With sales of €8 million, Novag, a manufacturer of seed drills for regenerative agriculture based in the Deux-Sevres region of France, has raised €4 million from Famae Impact and Galia Gestion, who value the company at between €5 and €10 million. The founder-managers retain a majority stake, while Poitou-Charentes Innovation and Expanso Capital dilute their stake to around 20%.
Famae Impact and Galia Gestion are investing in Novag to give the company the capacity to accelerate its growth, pursue its development in France and abroad, particularly in new high-potential markets, and contribute to an active approach to soil protection and regeneration.
Created in 2019, Famae Impact is a management company specializing in growth capital operations in companies with a positive environmental impact. Through its investments, it aims to reduce the carbon intensity of economic activities and preserve biodiversity in the service of a fair ecological transition. Famae Impact’s investment sectors are: waste, water, energy, mobility, housing and agriculture/food.
Counsels: Maud PARTOUCHE – Carole HADRYS
Press releases: https://www.cfnews.net/L-actualite/Capital-developpement/Operations/Augmentation-de-capital/Nouvelle-recolte-pour-Novag-455831 https://www.clearwatercf.com/fr/experience/transactions/clearwater-advises-the-management-of-novag-on-its-fundraising-to-boost-business-growth/