Arcole, a French private equity fund, has made a majority investment in Setic in partnership with longstanding shareholder and CEO Thierry Collard, who will continue in his current role.

A press release said that the investment will present a new phase of growth for Setic, a global leader in designing and manufacturing machinery for the wire and cable industry that is based in France in Roanne and Paris. The strategic investment aims at accelerating Setic’s development and enables a drastic deleveraging. “The company is thus in a very good position to capitalize on the favorable market trends anticipated in the coming years.”

Setic will fully embrace its role as a French industrial leader at the service of energy transition. The first steps on this path include enhancing the sales structure of the U.S. subsidiary, upgrading facilities in Roanne with new R&D capabilities, and rebranding the group as “Setic Pourtier” on the occasion of its 75th anniversary, combining the legacy of both historical brands. The presence of Arcole will not have an impact on customers.

Collard said that he was pleased with the deal. “I am delighted to have secured the redeployment of Setic Pourtier, keeping ownership in French hands and ensuring a promising future for our team while consolidating our growth trajectory that has taken us from a period of crisis to outstanding financial performance in just two years,” he said.

“We are thrilled about this investment, that gives Arcole the opportunity to support an industrial company with a French footprint and a global reach, based on a century-long legacy of technical excellence and innovation,” said Arcole Managing Partner Renaud Sueur. “I am very happy to partner with Thierry Collard, the CEO of Setic Pourtier, whose experience and knowledge of the market have been decisive in our will to invest in the Group.”