Why We invested
Trend – In France, about 75% of the 18 million French houses are considered as energy inefficient. In addition, some additional market levers have been introduced through national energy efficiency policy to support the renovation market.In a deep energy inefficient home market, owners are getting more and more concerned by the energy bill they have to support while not being much aware of the very large set of solutions that are implementable for their specific home. Renovation market is thus turning into a simpler and easier whole-home approach where owners want to get a trustful partner to design and implement a dedicated renovation scheme.
Strengths – Optireno has a seasoned team which has developed a new positioning for the company within the renovation market. The company offers a global-home and trustful one-stop approach enabling home and small building owners to implement easily energy focused solutions while improving living comfort.Optireno was a pioneer in one-stop energy efficiency renovation solution approach in France. The company has a global and affordable offer and has already a leading position in the geographies it covers.
Development thesis – Aster Capital is helping Optireno to ramp from a seed stage regional development level to large scale in France with a unique and effective business model of value creation. Following Aster’s investment, which occurred a few months after the company span-out from Saint Gobain, Optireno has successfully managed to build its offer and deploy its market presence in two major region in France. The company has also been able to deliver a sharp growth in sales since its inception and is now turning into a global scale development.