#Zoom : A fine chemicals group seeking a new industrial partner

Founded in 2007, the group is a leading independent French player in fine and specialty chemicals. In recent years, the group has undertaken a repositioning of its market strategy and industrial organization and is seeking a new industrial partner to support the development of high value-added projects. To this end, its court-appointed administrators have launched a new call for tenders, with a deadline for submitting offers set for 28 novembre 2025.

As a major independent player in the fine chemicals sector, the group positions itself as a strategic subcontractor (CDMO) for the pharmaceutical, cosmetics, and mining extraction industries. Specializing in the synthesis of active pharmaceutical ingredients (APIs) and advanced intermediates, the group develops and produces both innovative molecules and generics, for which it holds 25 proprietary dossiers. It also manufactures industrial dyes through one of its subsidiaries.

Today, the group operates three production sites in France, employing 265 people. It is recognized as one of the leading independent French players in fine chemicals.

A Structured Organization Around Three Industrial Entities

With consolidated revenue of €59.4 million (external sales), the group generates 43% of its income from dye production, 29% from the pharmaceutical sector, and 23% from cosmetics. This sectoral diversity is supported by a structured organization around three complementary industrial entities:

• The main entity (Centre-Val de Loire – Loiret) is the pharmaceutical core of the group. It focuses on the production of intermediates and active ingredients for the pharmaceutical and cosmetics markets, with 162 employees and €29.7 million in revenue (statutory accounts).
• The Normandy subsidiary (Eure), 100% owned, specializes in industrial dyes, particularly for the oil and paper industries. It employs 53 people and generated €26.5 million in revenue in 2024 (statutory accounts).
• The Provence subsidiary (Alpes-Maritimes), also 100% owned, produces pharmaceutical intermediates and active ingredients, including around twenty generics with the necessary regulatory support (DMF, CEP). It has 50 employees and recorded €11.2 million in revenue in 2024 (statutory accounts).

Strategic Refocus and Search for a New Partner

Since 2022, the group has been restructuring its market positioning and industrial organization, including the sale of a fine chemicals site mainly dedicated to agrochemicals (2022) and the closure of a heavily loss-making site (2023).

At the same time, the group has refocused on higher value-added segments, with a stronger emphasis on pharmaceutical projects and supporting laboratories in the development of innovative molecules.

The arrival of a new majority shareholder in April 2024 marked a new phase, with significant restructuring of tax, social, financial, and supplier debts.

However, in a challenging economic context (decline in demand for high-end cosmetics, Asian competitive pressure, soaring energy costs), these efforts were not enough to turn the group around. As a result, on 29 avril 2025, the group’s parent company was placed under judicial reorganization by the Commercial Court of Orléans. Then, on 23 septembre 2025, a judicial reorganization was also initiated against the Provence subsidiary.

As part of this procedure, its court-appointed administrators, AJ Associés (Nicolas Deshayes) and Ajilink (Vincent Labis), have launched a new call for tenders to find an industrial partner to support the group in developing new high value-added projects. The deadline for submitting offers is Friday, 28 novembre 2025, at 12:00 PM.

Par Agathe Caquineau