Alternatives specialist 21 Invest‘s French arm has bought Agorastore, a digital platform for circular economy auctions, to kickstart the deployment of its sixth generation of funds.
The firm said Agorastore allows companies and public authorities to value and give a second life to their used equipment and real estate assets through an online auction platform.
21 Invest’s deal also sees Bpifrance come in as a minority shareholder.
Agorastore targets public entities such as local authorities and administrations, as well as businesses with large fleets of equipment such as Veolia, Suez, Eiffage, Colas, Keolis, Transdev and SNCF.
Sales at the company have reached €100m, having grown by nearly 30% per year over the last three years.
21 Invest Partner Antoine Vigneron said, “Agorastore has all the characteristics of the projects we wish to support: a leading position in a buoyant market, excellent financial performance, a business model offering great recurrence and finally a unique momentum on the European market which presents solid opportunities for consolidation.
“We were also seduced by the potential in terms of environmental and societal impact, which is perfectly in line with our approach as a responsible investor.
“Agorastore has the expertise, customer recognition and ideal positioning to create a leading player in its market in France but also in Europe.”
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