DAGARD

Founded in 1951, Dagard has established itself as one of Europe's leading players in the design, manufacture and distribution of cold rooms and isothermal constructions for the food processing industry. Employing around 380 people at its Boussac and Montluçon sites in central France, Dagard had annual revenues of around €72 million at the time of Initiative & Finance's investment. Having been restricted by an industrial shareholder that was suffering financial difficulties that had nothing to do with their business, Dagard's management found in Initiative & Finance a shareholder in sync with their ambitious development project in France and on the export market. The operation, which included measured leverage, made it possible to carry out a major industrial investment plan (worth nearly €4 million) over the period. A leader on its domestic market, with innovative products and cutting-edge manufacturing facilities, Dagard was then acquired by the Purever group (its former Iberian subsidiary), becoming the largest European player on its market.