FACE strengthens its capabilities in the energy transition of commercial real estate with the acquisition of Axtera, LBGE and LBGE Énergie

Paris, September 2025 – FACE Group, France’s leading specialist in building envelopes for professional buildings (installation, renovation, and maintenance), announces the acquisition of three companies: Axtera, LBGE, and LBGE Énergie. These transactions reflect the Group’s ambition, supported by shareholder Hivest Capital Partners, to expand its integrated offering and accelerate the decarbonization of France’s non-residential building stock.

A favorable market context

Nearly 70% of professional buildings in France are over 30 years old, representing a vast reservoir for renovation and solar deployment. More than 100 million m² of rooftops could be equipped with solar panels – equivalent to eight nuclear power plants. New regulations (ZAN, APER, Tertiary Decree), combined with the rapid payback period of projects (less than 7 years for self-consumption solar installations), create an environment that strongly supports FACE’s solutions.

Three acquisitions to strengthen FACE’s offering

• Axtera (Île-de-France)
  A company specialized in the upkeep and maintenance of non-residential building rooftops. This acquisition reinforces FACE’s presence in the Paris region, secures a portfolio of recurring contracts, and strengthens ties with property managers.
• LBGE (Brittany)
  A recognized player in industrial and commercial electrical engineering (HV/LV, automation, maintenance). Its integration broadens FACE’s energy expertise and strengthens its technical capabilities.
• LBGE Énergie (Brittany)
  A company dedicated to the design, installation, and maintenance of turnkey photovoltaic power plants. This addition enhances FACE’s capacity in rooftop solar, accelerates its national reach, and responds to the growing demand for solarization of commercial buildings.

A clear ambition

With 4 acquisitions completed in the past 18 months, FACE:

• Targets +50% growth in its photovoltaic business as early as 2025,
• Expands its Energy and Maintenance activities,
• Strengthens its regional footprint to better serve commercial real estate,
• Confirms its role as a key partner in the energy transition of buildings in France.

The Group now employs more than 800 people across 29 locations, generates approximately €380 million in revenue, and has doubled its EBITDA since Hivest Capital’s entry into the capital in July 2021.

This strong expansion has been driven by a structured organization led by Nicolas Petit (CEO).

FACE intends to continue its external growth strategy to accelerate its development in France, particularly in energy-related businesses (PV, Electrical Engineering, HVAC, etc.) and maintenance services.

About FACE Group

For over 45 years, FACE has been building, renovating, upgrading, and maintaining professional buildings in France. Its integrated offering covers building envelopes, electrical engineering, photovoltaics, and maintenance—enabling the energy-efficient renovation of sustainable, high-performing properties.

More information: www.face-sa.fr

About Hivest Capital Partners

Hivest Capital Partners is an independent European private equity firm authorized by the French Financial Markets Authority (AMF). In the context of buyout or expansion projects, Hivest Capital Partners invests in SMEs and mid-cap companies with revenues generally ranging from €50 million to €500 million. Its mission is to help companies reach their full potential through operational performance improvements and ambitious growth strategies.

More information: https://hivestcapital.com