Nov 7, 2014 -- SPRING Technologies is funding a new growth stage with a new round of capital investment from its historic partner CM-CIC Capital Innovation together with ACE Management’s Aerofund III and CM-CIC Capital Privé, alongside with an Innovation loan from Bpifrance sovereign investment bank.
This €5.0M injection will enable CEO Gilles Battier to energize the company’s development on the international scale, and speed up product innovation through disruptive R&D investments.
SPRING Technologies is a French software company dedicated to CNC machine-tool users in all industry areas, allowing them to reduce operating costs, optimize machine fleets and increase the robustness of their manufacturing processes for high-precision, high added-value products.
SPRING Technologies’ NCSIMUL SOLUTIONS software range provides comprehensive, integrated control of manufacturing processes that include machining metals and composite layup, optimization of cutting and milling conditions, CAM program post-processing, 3D CNC machine simulation, technical content publishing and machine status monitoring across the workshop.
The company generated a consolidated turnover of €10.0M in 2013 through the sales of software and related services, that have now become a standard in the aerospace, defense, shipbuilding, automotive and energy sectors. It employs circa 100 engineers in France and in three offices abroad.
SPRING Technologies is recognized as an Innovative French SME, spearheading highly successful collaborative research projects in the Systematic and Astech competitiveness clusters. It has also been selected by Airbus, Safran, Zodiac and Dassault Aviation as an associate member of the “Aerospace Factory of the Future” initiative led by France’s civil aeronautics research council (CORAC).
To speed up its development, SPRING Technologies, which already has offices in Germany (Frankfurt), P.R. China (Shanghai) and the USA (Boston), has taken the twofold initiative of deploying internationally and investing in innovation, in close collaboration with its major clients. The company is also well positioned to examine acquisition opportunities in other European countries.
“I am delighted to pursue our adventure with our historic partner CM-CIC Capital Innovation, and to welcome ACE Management into our capital structure. Both investors are highly familiar with the market cycles in which we operate and understand the needs and demands from our customers, especially in the aerospace industry. By leveraging on their financial capabilities and excellent knowledge of the industrial environment, they can help us develop ambitious long-term projects, and bring an even bigger contribution to the improvement of our customers’ industrial processes through innovative digital technologies”, adds Gilles Battier.
Further information at: www.springplm.com
About CM-CIC Capital Innovation
CM-CIC Capital Innovation is a subsidiary of CM-CIC Capital Finance, specialized in venture capital investment. Its goal is to invest in businesses that develop promising technologies as from the upstream stages. CM-CIC Capital Innovation selects companies with strong growth potential in dynamic sectors such as information technology¸ telecommunications, electronics, life sciences, new materials and the environment.
Its policy is to provide long-term equity support for innovative startups to smooth their path to success. The level of investment is adapted on a case-by-case basis, ranging generally from €0.5 to 5M – these funds are injected in instalments to address ongoing development needs.
Further information at: www.cmcic-capitalfinance.com
About CM-CIC Capital Privé
CM-CIC Capital Privé is a subsidiary of CM-CIC Capital Finance (CM-CIC Group), specialized in trades venture capital, capital development and transmission, by investing in SMEs with growth potential, having demonstrated the relevance of their positioning. The company puts its expertise at the service of the leaders supporting medium-term projects and assists in the development of their organization. CM-CIC Capital Privé manages € 376M through his FIP (Proximity Investment Funds) and innovation-focused mutual funds.
Further information at: www.cmciccapitalprive.fr
About ACE Management:
ACE Management is a private equity firm which has focused on technology companies predominantly in the Aerospace, Maritime, Defense and Security sectors over the past 20 years. ACE Management manages 7 different investment vehicles representing about €450M of capital, including the flagships Aerofund (I, II and III) dedicated to Aerospace, Financière de Brienne, Sécurité and Atalaya.
The limited partners of these funds are European industrial groups (Airbus, Safran, Airbus Group, Airbus Helicopters, Thales, DNCS, CEA, Louis Dreyfus Armateurs, Areva), institutional investors (Bpifrance, Fonds de Solidarité des Travailleurs du Québec (FTQ), GICAN - Groupement des Industries de Construction et Activités Navales, Société Générale, Crédit Agricole, CIC, AXA, Crédit Coopératif) and 4 regions of France (Midi-Pyrénées, Aquitaine, Pays de la Loire and Centre).
Further information at: www.acemanagement.fr