AMR International supports Turenne Capital's €5m acquisition of CEDE

Centre Européen de Domotique et d’Energie (CEDE) is one of France’s leading distributors and installers of heat pumps. It mostly operates in Western France with c. 150 staff and it generated revenues in excess of €17m in 2008. The company has ambitious product and geographical development plans.

AMR International supported Turenne Capital with commercial due diligence on the transaction. Working to a very short deadline, we demonstrated the strength of CEDE’s competitive position and its excellent prospects through detailed regional market and customer analysis. In-depth interviews with CEDE’s partners e.g. suppliers and banks confirmed the differentiating know-how of the business and its management. AMR reviewed and validated CEDE’s growth strategy and revenue forecast which allowed us to recommend the investment to Turenne Capital. Following AMR’s analysis and recommendation, Turenne Capital invested €5m in CEDE.

“AMR delivered a quality piece of work under a very tight deadline. Their analysis and conclusions were clear and helped us to better understand the value of the business.” Francois Picarle, Turenne Capital