Paris, 4th July 2006. Assigned by the founding executives of GENEXCO, the CFK Finance consultancy has just concluded the sale of their company with EUROSIT, a subsidiary of the SOFIKOA group.
This transaction brings together two highly complementary players on the dynamic and competitive market of work-space and collective-space furnishing. The partnership established thus will generate industrial and commercial synergies and will strengthen the position of each entity both nationally and internationally.
Designer of lines and distributor of its own ranges of products (reception-area seats and furniture, office accessories and lights), which combine aesthetics and ergonomics, GENEXCO has retained demanding clients, primarily key accounts, since its establishment in 1986. The company, based in Montbazon (37), employs nearly 20 staff and achieved a turnover in the region of €2 M in 2005.
For its part, EUROSIT is one of the European leaders in the field of office chairs. On the initiative of its executive and founder, Gérard Legas, the company, based in Nevers, became part of the SOFIKOA group in 1997, a holding group integrating another leader in office furnishing, the Basque company SOKOA. The founder of SOKOA (and the SOFIKOA group), Patxi Noblia, is a charismatic and energetic self-made man who, in 35 years, has made his group into a key player and a driving force in the furnishing of work space in Europe. Bringing together nearly 235 employees today, the group has seen steady growth, achieving a turnover of €35 million in 2005. Its development is largely based on the technical innovation of its products, but also on the choice of materials used and the design of the products.
CFK Finance managed the entire sale process: approaching market players, discussions, arbitrations, and fine-tuning agreements with the selected partners up to the ownership transfer stage. The transaction was carried out by Daniel Delamard, Partner/Director, and Christian Douesnard, Partner/business manager.
“GENEXCO,” emphasises Daniel Delamard, “is an exemplary group that combines creative ambition, innovation and technical expertise, while respecting the environment and quality standards. The external growth strategy conducted by Patxi Noblia has always enabled each entity integrated in the group to retain a great deal of commercial autonomy, thereby preserving their cultural and creative identity. By looking for new development opportunities for their company, the founders of Genexco were attracted by the development model of the SOKOA group.”