Acquisition by the de Dietrich family of Bpifrance’s shareholding in De Dietrich Process Systems
The de Dietrich family, one of the oldest French industrial dynasties, announced that it had repurchase, via its family holding company (Financière Jaergerthal), the 21.88% shareholding held by Bpifrance in De Dietrich Process Systems.
Thanks to the support of Bpifrance, which in 2011 acquired a stake in De Dietrich Process Systems, the Alsace-based family group has been able to weather the delayed effects of the 2008 financial crisis and contributed to its development and international expansion, notably in Asia.
Bpifrance and the de Dietrich family share the belief that the Group, which is financially and operationally sound, now has the capacity to continue on its growth trajectory unaided.
Since 2019, under the chairmanship of Jacques Moulin, the company has grown steadily, with sales now in excess of €200 million, 60% of which are generated in Europe.
De Dietrich Process Systems, which has successfully leveraged the reshoring in Europe of a section of the pharmaceutical industry, has a very positive outlook in its traditional markets and for new growth drivers in pharmaceuticals, plant chemistry and environmental solutions. The opening of a metal fabrication school on the company’s historic site in Zinswiller (Bas-Rhin), to secure key industrial skills, as well as new international production units, such as the recently acquired Zean Engineering in Spain, reflect this momentum in France and internationally.
According to Marc-Antoine de Dietrich, Chairman of Financière Jaergerthal (holding company of the de Dietrich family), “This transaction is a natural extension of strategic, operational and managerial continuity for De Dietrich Process Systems. With an industrial base in France dating back more than 300 years, and as a shareholder with a long-term outlook, the de Dietrich family is proud to support the company’s ambitions and to play a full role in its continued expansion into new markets thanks to innovation, digitalisation and investment in its manufacturing base, initiated with the assistance of Bpifrance, who we would like to thank for their support over the past 11 years.”
Thierry Sommelet, member of the Management Committee of Bpifrance’s Large Cap team, said, “Our investment in De Dietrich Process System is a perfect illustration of the role Bpifrance plays in the share capital of French family-owned mid-cap companies. Bpifrance is proud to have backed the de Dietrich family since 2011 and, in particular, to have supported it during periods of international crisis, helping to shape a global industrial champion in its field. Bpifrance has also been involved in the Group’s development and enabled it to achieve the financial and operational stability that today allows it to continue its growth unaided.”
Stakeholders in the transaction
The de Dietrich family is advised by Edmond de Rothschild and CAA-Avocats Cohen-Amir-Aslani.
The sale of the stake held by Bpifrance has been completed by Thierry Sommelet, Rafaël Duch and Sophie Paquin.
About De Dietrich Process Systems
Founded in 1684, de Dietrich Process Systems is a French industrial group with a long tradition of innovation.
De Dietrich Process Systems designs, manufactures and distributes engineered systems, process solutions and premium equipment for pharmaceuticals, chemicals and green solutions. The company, which employs almost 1,100 people, works with the world’s leading pharmaceutical companies and operates 20 sites in 13 countries. It also leverages a global sales network. The Group is currently structured around three complementary activities, enabling it to offer a comprehensive range to its customers, including Systems, Equipment (enamel, borosilicate glass and filter dryers) and Services. Since 2020, the Group has been improving its range of green solutions to help contribute to a sustainable and environmentally responsible economy.
Bpifrance’s equity investments are made by Bpifrance Investissement. Bpifrance finances companies at every stage of their development with credit, guarantees and equity, and supports them in their innovation and international projects. Bpifrance also insures their export activity through a wide range of policies. The services offered to entrepreneurs also encompass consultancy, university, networking and acceleration programmes for start-ups, SMEs and mid-caps.
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