The Fonds Stratégique de Participations: a new long-term investment in the capital of one of the flagships of the French industrial sector

June 1 2015

The Fonds Stratégique de Participations (FSP) announced its third long-term investment through the acquisition of a stake in Zodiac Aerospace, a worldwide leader in aeronautical equipment and systems, totalling €350 million.

As a long-term investor, the FSP plans to offer Zodiac Aerospace development support and to participate in its governance.

On the occasion of this new acquisition, the FSP and its founders – BNP Paribas Cardif, CNP Assurances, Crédit Agricole Assurances (through its subsidiary Predica), and Sogecap (Societe Generale Group) – also announce that two new shareholders, Groupama  and Natixis Assurances, have joined the FSP.

The FSP is managed by the Edmond de Rothschild Group.

With the support of six major insurers in France, the FSP is a long-term shareholder in the capital of French companies and thereby intends to help support the French economy.

The FSP provides support for the strategies established and implemented by companies selected for their sound financial situation, capacity for innovation and visibility.

Carried out in cooperation with the target companies, the FSP’s investments enable the FSP to be represented on the companies’ board of directors or supervisory board. In this regard, the FSP proposes to each company an independent person to sit on its board and participate in the company’s governance.

The FSP has recently chosen to invest in the capital of Zodiac Aerospace, a company with high added value in the aeronautical industry.

Zodiac Aerospace is the world leader in many market segments in aeronautical equipment and systems. Supported by a strong family shareholder structure, this group, which is a flagship in French industry, operates in a promising market in aeronautics and implements an efficient development model which is balanced between organic growth and targeted external growth.

The FSP decided to invest €350 million in Zodiac Aerospace’s capital given its growth prospects, its disciplined and sustainable value creation strategy, and its top-notch management team.

Mr Olivier Zarrouati, Chairman of Zodiac Aerospace’s Executive Board, commented, “We are delighted to welcome the Fonds Stratégique de Participations as a new shareholder. The FSP’s acquisition of interest in Zodiac Aerospace reinforces the stability of our leading shareholders and our strategy to create sustainable value.”

Mr Jérôme Grivet, Chairman of the FSP, commented, “After investments in SEB and Arkema, the FSP is pleased to offer its long-term support to Zodiac Aerospace, one of the flagships of the French industrial sector. In doing so, the FSP confirms its commitment to support major French companies.”

Today, the FSP is a shareholder and administrator of Arkema and Groupe SEB. Last December the FSP, true to its mission as a long-term investor that fosters initiatives that create value, participated in the capital increase of Arkema during the acquisition of Bostik.

By investing in the FSP, the six insurance companies – as leading institutional investors – aim to channel a portion of French long-term savings, held particularly through life insurance, towards equity investments compatible with their long-term liabilities.

The FSP is continuing to assess new investment opportunities.