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Investments  |  26/04/2024

Petit Forestier Group strengthens long-term shareholder base with investment from Wren House

Petit Forestier Group, the European leader in sustainable refrigeration rental, announces that agreements have been reached between Petit Forestier Group and Wren House, a global infrastructure investment fund and Sofina, a Belgian global investment company, to acquire the minority stake the latter has held in the Group since 2007.

Wren House has a track record of over a decade of successfully investing in infrastructure assets. Based in London, Wren House is a growing platform that seeks to build a diversified, high-quality portfolio of direct infrastructure investments in OECD countries. Wren House is pleased to enter into this long-term partnership with the Group as it seeks to execute its strategic growth plans.

This investment strengthens Petit Forestier’s shareholder base and provides the Group with stability to pursue its strategic plans. These plans follow its development along three key pillars: international expansion within both its existing markets and new markets outside of Europe, a commitment to the sector’s energy transition, and the digitalisation of the Group.

Léonard FORESTIER, CEO Petit Forestier Group, said: ‘For our family-owned group, this agreement marks a new step in our ambition to become the world leader of sustainable refrigerated rentals. I would like to thank Sofina for these incredible 17 years of trusted partnership. With Wren House, we have found a long-term partner who will support us in our development while respecting our heritage, the entrepreneurial spirit of the Forestier family, our passion for service and the creation of value for our customers’.

Philippe Busslinger, CEO of Wren House, said: “We are excited to partner with Petit Forestier Group’s exceptional management team and the Forestier family to support the Company’s growth, digitalisation plans and the ongoing electrification of its fleet. This partnership marks our third investment in the logistics leasing space in the past couple of years and highlights our strong conviction in the growth trends underlying these critical services. This investment continues Wren House’s investment strategy in France following the acquisition of Almaviva Sante in 2021. We look forward to working with the management team and our new partners to capitalise on the many opportunities in this fast-growing and evolving market.”

Finally, Harold Boël, CEO of Sofina added ‘It has been a privilege to be an investor and partner in Group Petit Forestier for the past 17 years, during which we have seen the company grow and thrive. We are proud of our journey together and the many years of fruitful collaboration between ourselves and the Forestier family. We are delighted that a new strong partner will step in to accompany the group in the next chapters of value creation for all stakeholders. As the company embarks on a new chapter in its development, it is an excellent moment for Sofina to crystallize value, in line with our strategy. We admire the Forestier family’s entrepreneurial spirit and remain strong believers in their ambitious plans. We wish the family, the new investor and all GPF employees the best of success for the future.