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A response to market expectations
Just a year ago, with the acquisition of Marlin Equity Partners, Tennaxia announced its ambitions for further growth, notably through acquisitions. "This acquisition enables us to offer our customers a comprehensive sustainable performance management platform, with advanced carbon footprint management functionalities, in a rapidly evolving market. At a time when our customers are focusing on the transition to sustainable business models, notably driven by the Corporate Sustainability Reporting Directive (" CSRD "), they increasingly need an overview of their emissions and the tools to effectively reduce their environmental footprint. This union will enable companies to tackle all ESG issues with the same depth, rigor and ambition. Our two companies are resolutely customer-focused, and our platforms share the same vocation: to enable organizations to get moving, not only to comply, but also to act, in order to transform themselves. Beyond the obvious complementarity of our expertise, it was this shared alignment of vision that attracted us", explains Bernard Fort, CEO of Tennaxia.
The integration of Traace's functionalities will enable Tennaxia to provide its customers with an advanced carbon accounting platform in combination with its extra-financial performance management solution. "We look forward to combining our expertise and continuing to innovate 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," said Thomas Guyot, co-CEO of Traace. "The combination of two advanced and highly complementary solutions enables us to create a unique product suite to address corporate and environmental challenges. Together, we are well on our way to shaping the next generation of extra-financial reporting solutions, which represents an exciting adventure for us, our employees and our customers," added Traace's other co-founders, Patrick Nollet and Rodolphe Denieau.
A market gaining in maturity
Faced with the explosion of issues linked to corporate social responsibility, driven in particular by strong European regulations (CSRD), the market offer has multiplied and is tending to consolidate.
Tennaxia, a benchmark player since 2001, helps to meet all sustainability challenges through proven business software solutions and associated consulting expertise, applied to 2 main areas: HSE (Health, Safety, Environment), ESG (Environment, Social and Governance) for companies (mainly ETIs and large groups, notably CAC 40 and SBF 120) and investors (LPs, GPs, Private Equity). Tennaxia's prestigious references include Axa, Schneider Electric, Sanofi, Eiffage, Arkea Capital and Pierre Fabre.
In an ecosystem that is becoming more structured to meet increasingly sophisticated needs, Tennaxia turned to Traace, a greentech created in 2020 and a specialist in carbon topics, with customers including Sodexo, LVMH, RATP and Siemens. The Traace platform enables medium-sized and large companies to efficiently declare 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 capabilities is very exciting. This creates an extremely comprehensive platform for companies 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 fast-growing market, where sustainable development is becoming increasingly central to corporate strategies, with increased regulatory scrutiny. The combination of Tennaxia and Traace creates a major player in sustainable development reporting in France and Europe", adds Jérôme de Bucy, Investment Director at Bpifrance.
"We are delighted to accelerate Tennaxia's growth trajectory with the addition of Traace, which will bring significant value to its customers and consolidate its leading position in ESG data management and reporting," said Frédéric Mimoun, Partner at IdiCo.
About Tennaxia
Founded in 2001, Tennaxia is a leading provider of SaaS-based HSE and ESG performance management software solutions. The software platform enables companies in all sectors and investors to comply with their regulatory obligations and manage their sustainable performance. The expertise of our consultants complements the power of our tools, to support companies and investors in their operational and strategic thinking. HSE solutions cover the management and traceability of waste and associated costs, regulatory monitoring and compliance, and risk management. ESG solutions meet the challenges of sustainability reporting, extra-financial performance management and regulatory monitoring.
Headquartered in Laval, Tennaxia also has offices in Paris and Lyon. Tennaxia has over 800 customers, including some of Europe's largest companies. For further 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 in order to reduce their ecological footprint, accelerate their transition to a sustainable business model and comply with growing regulatory requirements. Its modern data platform offers a unique set of functionalities, including automated emissions data collection, climate impact measurement and analysis, environmental trajectory forecasting, action plan management to achieve emissions reduction targets, climate action plan financial analysis, 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 tonnes of CO2 equivalent, or almost 10% of France's total annual emissions.
For further information, please visit https://traace.co.
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with nearly $9 billion in capital commitments. The company focuses on providing parent companies, shareholders and other stakeholders with tailor-made solutions to meet their business and liquidity needs. Marlin invests in companies in a variety of sectors, where its capital base, industry relationships and extensive network of operational resources significantly strengthen the company's prospects and enhance its value. Since its inception, Marlin, through its group of funds and related companies, has led nearly 250 acquisitions. The company is headquartered in Los Angeles, California, with offices in London and Paris. For further 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 - with credit, 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, universities, networking and acceleration programs for startups, SMEs and ETIs are also part of the services offered to entrepreneurs. Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a single, close and efficient contact to help them meet their challenges.
Further information: www.Bpifrance.fr - https://presse.bpifrance.fr/
Follow us on Twitter : @Bpifrance - @BpifrancePresse
About IdiCo
A spin-off from Omnes Capital's private equity business, idiCo is a major player in private equity and private debt, accredited by the Autorité des Marchés Financiers, and a subsidiary of the IDI Group.
idiCo invests in French SMEs and ETIs through minority and majority stakes or bond financing, in order to help them create responsible value through 3 main strategies: lower-mid cap, small cap and private debt.
idiCo manages close to €1 billion in assets across 31 portfolio investments, and has supported over 110 companies in recent years. The management company operates mainly in the healthcare, B2B services, technology and industrial sectors.
For further information, please visit: www.idico.fr
