CFNEWS, September 3, 2024, by Anne-Gabrielle Mangeret.
The three-century-old family-owned high-end upholstery fabric manufacturer, generating €19 million in revenue, welcomes Pascal Cagni’s industrial holding company, C4 Industries, as a majority shareholder with plans to build a group in the world of French art de vivre.
Maison Lelièvre, with its rich history in tapestry and furniture making, begins a new chapter. The high-end fabric manufacturer is bringing a professional investor into its capital. “Maison Lelièvre needed capital to invest in its production tool and go-to-market,” says Wladimir d’Ormesson, Deputy CEO at C4 Industries. Pascal Cagni’s holding company takes a majority stake with an equity investment between €5 million and €10 million. Emmanuel Lelièvre, from the fourth generation leading the family business, will continue as CEO with a substantial stake. Frédéric Capelli, who has been with the company for fifteen years, and Laura Thivolet, director of investments at C4 Industries, have been appointed deputy CEOs of Lelièvre. This marks C4 Industries’ first investment in the French art de vivre sector. So far, the investment platform is known for C4 Ventures, which has around forty participations.
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An Entrepreneurial Platform
The new shareholder plans to invest several hundred thousand euros in the industrial tool before tackling the software side (production and stock management), then focusing on the commercial aspect. “Special attention will be given to the product offering to increase volumes and sales. We apply tech principles in an industrial world,” says Pascal Cagni, who aims to bring in architects and upholsterers to develop products and is also looking for a purchasing director and salespeople for the U.S. market. The investor aims to integrate other companies in the sector or value chain—dyers, thread manufacturers—to build a group in the French art de vivre world, while also targeting companies in the energy transition space. Beyond the “C4 Manufactures” vertical with direct acquisitions, C4 Industries also pursues other strategies: minority investments through “C4 Participations” with four portfolio companies and the para-hospitality sector under the “C4 Collection” banner. C4 Ventures is raising a third innovation capital vehicle—the previous one raised nearly €90 million—and the foundation, which has supported 15 philanthropic projects over the past ten years, continues its activities.
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