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ADVISO PARTNERS advises the TGW GROUP’s shareholders in the reorganisation of its capital, with the investment of RAISE IMPACT alongside historical financial investors BPIFRANCE and RIVES CROISSANCE
04/2023

The TGW Group (TRI-O & GREENWISHES), an independent leader in the management of general industrial waste for service sector companies in Ile-de-France, continues to grow with investment by a new shareholder, RAISE IMPACT. RAISE is taking a stake alongside historical financial investors BPIFRANCE (through its dedicated energy and environmental transition fund), RIVES CROISSANCE and TREC.

Waste management, a major challenge in developing the circular economy


Identified by Shift Project and ADEME as one of the key solutions for meeting the ambitious target of carbon neutrality by 2050, waste management is an essential lever for preserving resources in order to ease pressure on non-renewable materials. In particular, it is estimated that recycling, an absolute priority in the fight for the environment, can cut CO2 emissions by the equivalent of 20 million tonnes annually.

To meet this major challenge, the TGW Group, a French company specialising in collecting and sorting waste from businesses, has developed four separate offers, adapted to all sizes of organisations and buildings. The company is set up to provide innovative, agile and highly structured solutions for managing waste produced by businesses.

Beyond its business model, with its natural focus on promoting the ecological transition and the circular economy, TGW has made its social inclusivity commitments a key priority; in particular it offers people with disabilities meaningful roles at its GROOM subsidiary. GROOM is a disability-friendly company and a French benefit corporation employing nearly 75% disabled workers.

The Group is therefore pursuing growth that is both responsible and ambitious, and is rounding out its offer in new markets. For example, 2023 will see it launch AQUARYS, a new benefit corporation specialising in washing and re-cycling reusable food containers for the restaurant market. It is also opening a new branch in the Centre-Val de Loire region and actively seeking build-up opportunities.

At the same time, TGW has developed an innovative waste management and traceability approach: 2.0, its high-end customised reporting tool, includes up to 30 KPIs that provide the Group’s customers with full traceability and analysis of their waste flow management to the closest 200 grammes.

Innovation is at the heart of TGW’s value proposition. The company has created a “circular innovation department” to carry out strategic monitoring, trial new solutions and develop operational services.

In this transaction, RAISE IMPACT is taking a stake alongside historical financial investors BPIFRANCE, RIVES CROISSANCE and TREC. This capital restructuring will notably enable the TGW Group to:



Mattieu de CHANALEILLES, Chairman of the TGW Group: “We are very proud to welcome a new shareholder to our company with the arrival of RAISE IMPACT, and to see the renewed trust of our historical shareholders, BPIFRANCE, RIVES CROISSANCE and TREC, which represents a strong statement for our group and the market. The challenge for the TGW Group is to continue to innovate and develop to improve waste recovery through better collection and ever more efficient sorting in order to support our customers in their environmental approach. The arrival of RAISE IMPACT, with its DNA and ecosystem, will enable us to continue to capitalise on the Group’s values and our model’s fundamentals, while positioning ourselves in new markets and regions.”

Aglaé TOUCHARD-LE DRIAN and Serge BEDROSSIAN, Co-Heads of RAISE IMPACT: “RAISE IMPACT is particularly pleased to support TGW in this new growth phase and thus help develop France’s recycling ecosystem and circular economy. We firmly believe that TGW’s differentiated business waste management offer, as well as its active role in the circular economy and its vision of developing a network of recycling channels, are key drivers for meeting current environmental challenges. We were also much impressed by TGW’s commitment to social inclusion and the employment of people with disabilities, which reflects our own vision of a positive social impact. We are therefore proud to be supporting this high-quality management team in its development and innovation challenges, and we look forward to working with TGW to help promote recycling and the circular economy in France.”

Alexis MAHIEU, Senior Investment Director at BPIFRANCE INVESTISSEMENT: “We are delighted to be once again partnering this excellent team led by Matthieu de CHANALEILLES, through our dedicated energy transition fund. In recent years, TGW has established a distinctive market positioning by offering relevant, innovative and constantly evolving circular economy solutions. The Group’s outlook is good, with considerable potential for replicating and expanding its offer nationwide in a very buoyant market.”

Denis COUDERCHET, Director of Large Enterprises and Engineering at BANQUE POPULAIRE RIVES DE PARIS: “We are delighted to be continuing to support TGW and its CEO Matthieu de CHANALEILLES in the company’s growth trajectory.”

Luc VERNHET, Managing Director at ADVISO PARTNERS: “This transaction is fully in line with ADVISO PARTNERS’ M&A impact activity, and we are delighted to have supported the TGW Group’s shareholders in this major step in its development.”