Fondasol Group applies an collaborative governance project that is resolutely original, and part of a long-term vision.
In 2017, a first capital operation enabled employees and managers to become the majority shareholders in the Group's capital, with 60% of the shares.
In 2021, another operation opened up the capital further, taking the share held by the staff to 75%.
During 2022, the pace of this drive to involve the employees in the company's capital will accelerate again, with the setting up of a FCPE, an employee investment fund. Mobilising the tools employee savings and profit sharing (two schemes in France, intéressement and participation) will enable us to bring all of the employees into the Group's shareholder base.
This desire to share the wealth created, and the economic and financial value generated by everyone, is a strong pillar in Fondasol Group's strategic plan and it's CSR policy.
This fundamental change in Fondasol Group's capital initiated in 2017 has been accompanied by the rolling out of a long-term strategic transformation plan.
It aims to rise to the challenges we face in our sector and those of society and to secure a lasting future for the Group.
The introduction of the employee shareholding scheme, combined with the support of our financial partners, facilitates the implementation of a continuous transformation:
The actions being implemented include:
What, given that the company is not listed on the stock exchange, is the best way of keeping our employee-shareholders informed? How can we involve them in the governance of the company?
To provide the answer, we have decided to overhaul our governance bodies. From 2022:
Consisting of 6 permanent members, our Management Committee meets bi-monthly.
Also attended by managers from our regions, subsidiaries, and managers of technical and other departments, and now the representatives of the employee-shareholders, the expanded Management Committee meets once a quarter.
These meetings are fixed before the monitoring committee meetings with the minority shareholder funds, so as to pre-validate the decisions.
Two investment funds renewed their confidence in the Group and its management at the time of the capital transaction in December 2021.
One of the investment funds of the banking group BNP Paribas, BNP Paribas Développement, manages 1 billion euros, investing its own funds directly to support the development of high-performing SMEs. Its mission is to accompany the management team to achieve its strategic project in the medium term.
BTP CAPITAL INVESTISSEMENT is a venture capital company that has been providing equity and quasi-equity funding in SMEs and intermediate-sized enterprises in the construction and related activities sector for over 45 years, and whose shareholders are the main institutions in the profession (Fédération Française du Bâtiment, BTP Banque, SMA BTP and ProBTP).
This funding round was also completed by two new investment funds aligned on the Group's capital and strategic project.
Bpifrance finances companies – at every stage of their development – through credit, guarantees and equity. Bpifrance accompanies them in their innovation and international projects. Bpifrance also insures their export activity through a wide range of products.
Advice, university, networking and an acceleration programme for start-ups, SMEs and intermediate-sized enterprises are also part of the offer to entrepreneurs. Thanks to Bpifrance and its 48 regional offices, entrepreneurs benefit from a single, effective local interlocutor who can support them as they face their challenges.
Since 2017, the Franco-African Funds have been investing in French SMEs with a development in Africa, existing or to be developed. They enable their holdings to deploy quickly across Africa, with the support of all the AfricInvest network, the leader in Private Equity in Africa.
Etoile Capital, a subsidiary of Crédit du Nord, is a shareholder in French SMEs, in a very diverse range of sectors, with a portfolio of about twenty holdings. It positions itself as a minority shareholder in the capital of companies that are customers of the different regional banks that make up the Crédit du Nord group.