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Meeting Market Expectations
Just one year ago, with Marlin Equity Partners' investment, Tennaxia announced strong ambitions to continue its growth, particularly through acquisitions. "This acquisition allows us to offer our clients a comprehensive sustainable performance management platform, with advanced carbon footprint management features, in a rapidly evolving market. As our clients focus on transitioning to sustainable business models, particularly driven by the Corporate Sustainability Reporting Directive (" CSRD "), they increasingly need a comprehensive view of their emissions and tools to effectively reduce their environmental footprint. This merger will enable companies to address all ESG topics with the same depth, rigor, and ambition. Both our companies are resolutely customer-centric, and our platforms share the same purpose: to empower organizations to take action, not just to comply, but also to act and transform. Beyond the obvious complementarity of our expertise, it is this shared vision alignment that attracted us.", explains Bernard Fort, CEO of Tennaxia.
The integration of Traace's features will enable Tennaxia to provide its clients with an advanced carbon accounting platform in combination with its non-financial performance management solution. "We are eager to combine our expertise and continue innovating together, as we always have, to help companies and financial institutions succeed in their sustainable transition strategy.", adds Maxime Delorme, co-founder and CTO of Tennaxia.
"Over the past four years, we have built a unique SaaS platform enabling organizations to monitor and improve their environmental footprint and CSR performance, which are becoming as important as financial reporting.", stated Thomas Guyot, co-CEO of Traace. "The combination of two advanced and highly complementary solutions allows us to create a unique product suite to address business challenges and environmental issues. Together, we are on the right path to shape the next generation of non-financial reporting solutions, which represents an exciting adventure for us, our employees, and our clients.", added Traace's other co-founders, Patrick Nollet and Rodolphe Denieau.
A Maturing Market
Faced with the explosion of corporate social responsibility topics, particularly driven by strong European regulations (CSRD), the market offering has multiplied and is tending to consolidate.
Tennaxia, a benchmark player since 2001, addresses all sustainability challenges through proven business software solutions and associated consulting expertise, applied to two main areas: HSE (Health, Safety, Environment) and ESG (Environmental, Social, and Governance) for companies (primarily mid-caps and large groups, including CAC 40 and SBF 120 companies) and investors (LPs, GPs, Private Equity). Tennaxia boasts prestigious clients such as Axa, Schneider Electric, Sanofi, Eiffage, Arkea Capital, and Pierre Fabre.
In an ecosystem that is structuring itself to meet increasingly specific needs, Tennaxia turned to Traace, a greentech founded in 2020 specializing in carbon topics, with clients such as Sodexo, LVMH, RATP, and Siemens. The Traace platform enables medium and large companies to efficiently report their emissions, set reduction targets, and create detailed action plans, while visualizing in real-time the future impact of measures on their emissions forecasts.
"The combination of Tennaxia's leading position in HSE and ESG and Traace's advanced carbon accounting features is very compelling. This allows for the creation of an extremely comprehensive platform for businesses, in an increasingly demanding regulatory environment, particularly with the implementation of the CSRD.", said Jeremy Nakache, Principal at Marlin Equity. "We are delighted to partner with the Traace team and accelerate its expansion in France and Europe by leveraging Tennaxia's existing network.".
"Tennaxia operates in a rapidly growing market, with sustainability becoming increasingly central to corporate strategies and subject to increased regulatory scrutiny. The combination of Tennaxia and Traace creates a major player in sustainability reporting in France and Europe,"added Jérôme de Bucy, Investment Director at Bpifrance.
"We are excited to accelerate Tennaxia's growth trajectory with the addition of Traace, which will bring significant value to its clients and solidify its leadership position in ESG data management and reporting.", said Frédéric Mimoun, Partner at IdiCo.
About Tennaxia
Founded in 2001, Tennaxia is a leader in SaaS-based HSE and ESG performance management software solutions. The software platform enables companies across all sectors and investors to comply with regulatory obligations and manage their sustainable performance. Consulting expertise complements the power of these tools, further supporting companies and investors in their operational and strategic considerations. HSE solutions cover waste management and traceability, associated cost management, regulatory watch and compliance, and risk management. ESG solutions address sustainability reporting challenges, non-financial performance management, and regulatory monitoring.
Headquartered in Laval, Tennaxia also has offices in Paris and Lyon. Tennaxia serves over 800 clients, including some of Europe's largest companies. For more information, please visit www.tennaxia.com
About Traace
Founded in Paris in 2020, Traace is a leader in carbon footprint management, enabling companies to effectively manage their environmental strategy to reduce their ecological footprint, accelerate their transition to a sustainable economic model, and comply with increasing regulatory requirements. Its modern data platform offers a unique set of features, including automated emissions data collection, climate impact measurement and analysis, environmental trajectory forecasting, management of action plans to achieve emissions reduction targets, financial analysis of the climate action plan, as well as supplier and value chain assessment. Traace's clients include companies such as Sodexo, LVMH, RATP, and Siemens. Traace also works with a network of consulting partners such as Deloitte, Bearing Point, and Carbone 4. Today, Traace manages 30 million tons of CO2 equivalent, representing nearly 10% of France's total annual emissions.
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with nearly $9 billion of capital commitments. The firm is focused on providing parent companies, shareholders, and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across various industries where its capital base, industry relationships, and extensive network of operational resources significantly strengthen a company's prospects and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed nearly 250 acquisitions. The firm is headquartered in Los Angeles, California, and has offices in London and Paris. For more information, please visit www.marlinequity.com.
About Bpifrance
Bpifrance's equity investments are managed by Bpifrance Investissement. Bpifrance finances companies – at every stage of their development – through loans, guarantees, and equity. Bpifrance supports them in their innovation and international development projects. Bpifrance also supports their export activities through a wide range of products. Consulting, training, networking, and acceleration programs for startups, SMEs, and mid-caps are also part of the services offered to entrepreneurs. Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a local, single, and effective point of contact to help them meet their challenges.
More information at: www.Bpifrance.fr – https://presse.bpifrance.fr/
Follow us on Twitter: @Bpifrance - @BpifrancePresse
About IdiCo
Stemming from Omnes Capital's private equity activities, idiCo is a major player in private equity and private debt, regulated by the French Financial Markets Authority, and a subsidiary of the IDI Group.
idiCo invests in French SMEs and mid-caps through minority and majority equity stakes or bond financing to support them in responsible value creation across 3 main strategies: lower-mid cap, small cap, and private debt.
idiCo manages nearly €1 billion in assets spread across 31 portfolio investments and has supported over 110 companies in recent years. The management company primarily operates in the healthcare, B2B services, technology, and industrial sectors.
For more information, please visit: www.idico.fr