Paris, November 12, 2020 – UGGC Avocats, a leading business law firm, assisted Bpifrance in its investment of eight million euros in the capital of the family-owned industrial group Coretec. Coretec represents the first participation of the Fonds Avenir Automobile 2.
Created in 2012 and led by Nicolas Dufourcq, Bpifrance finances companies – at every stage of their development – with credit, guarantees and equity. Bpifrance supports them in their innovation projects and internationally and also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration programs for start-ups, SMEs and ETIs are also part of the offer proposed to entrepreneurs.
Through Bpifrance and its 50 regional offices, entrepreneurs benefit from a close, unique and efficient partner to help them manage their challenges.
Created in 2002 by its current CEO, Daniel Le Corre, Coretec is an integrator of robotic production lines for the automotive industry. The group employs approximately 360 people, spread over four sites, two of which are located in France, one in Poland and one in the Czech Republic. Coretec had a turnover of €33M as of March 31, 2020
Bpifrance’s investment in Coretec’s capital is intended to finance the group’s strong growth based on its close relationships with its historical clients, equipment manufacturers and car manufacturers. Through this operation, Bpifrance becomes the second shareholder of the Coretec group behind the Le Corre family, which remains the majority shareholder.
This investment in equity and quasi-equity is the first of the Fonds Avenir Automobile 2 managed by Bpifrance and designed to support the growth and innovation of SMEs and ETIs in the French automotive industry.
The UGGC Avocats team that supported Bpifrance in this operation includes Charles-Emmanuel Prieur (partner), Laura Malach (counsel), Rebecca El-Hakim (associate) and Bernard De La Vallée Poussin (associate).
Other advisor involved in the transaction
Fidal advised the Coretec group with Charlette Mercier (partner) and Caroline André (associate).
About UGGC Avocats
Created in 1993, UGGC Avocats is one of the leading independent business law firms in France. Operating alongside private companies, public entities and individuals, it has a rich range of legal and tax services and a very large capacity for international operations, thanks to its offices or first-class desks in Europe (Paris, Marseille and Brussels), Africa (Casablanca), Asia (Shanghai and Hong Kong) and South America (Sao Paulo and Belo Horizonte). Positioned as a “firm of Clients”, it bases its approach on the ability of its departments to work transversally and to deploy, according to their needs, a complete range of expertise. UGGC Avocats is made up of more than 150 lawyers and attorneys, including some thirty partners; in 2019, its turnover was approximately 32 million euros.
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