Cornet Vincent Ségurel advises Mansio Group on the acquisition of AZ Métal

Corporate Law – M&A – Private Equity

Press releases — 4 November 2025

One year after a second LBO, the Mayenne-based Mansio group has reached a new strategic milestone with the acquisition of AZ Métal. This fourth external growth operation since 2021 brings the group's consolidated turnover to over €50 million and confirms its ambition to become a leading player in selective sorting, hygiene equipment, and street furniture in France.

The Mansio Group (formerly M53) is continuing its industrial consolidation strategy with the acquisition of AZ Métal, a small and medium-sized enterprise based in Quévert (Côtes-d’Armor) since 1974. The transaction was carried out with the support of its four shareholders who acquired a stake in the company during the group’s capital restructuring at the end of 2024: Yotta Capital Partners, Épopée Gestion, SWEN Capital Partners, and BNP Paribas Développement. It marks the departure of Ronan Le Tiec, CEO and majority shareholder of AZ Métal for 25 years, as well as Sodero, an investor that acquired a stake in the company in 2022.

Immediate industrial and commercial synergies

AZ Métal has established itself as a recognized player in two areas of expertise: the manufacture of mechanically welded assemblies for urban development and industrial equipment, and the design of waste collection containers using rotational molding, which today accounts for 75% of its business, generating €8 million in revenue.

With a 2,000 m² production site equipped with cutting-edge technology (welding robots, laser tube cutting, rotational molding) and a portfolio of innovative patents, the Brittany-based company brings major strategic assets to the Mansio group. It strengthens its industrial capabilities, diversifies its product offering, and expands its customer portfolio to include major recycling companies such as Veolia, Romi, and Marc, thus complementing its long-standing customer base of public sector players.

The acquisition enables the group to pool its cutting-edge equipment, optimize its production capacities, and offer a complete range of solutions in France and internationally: street furniture, hygiene equipment, selective sorting solutions, and waste collection containers.

A sustained consolidation trajectory since 2021

This transaction is part of Mansio’s growth strategy, which began in 2021. Founded around Rossignol, a Mayenne-based manufacturer established in 1896 and specializing in waste sorting solutions and hygiene equipment, the group has pursued a methodical consolidation strategy:

2022: acquisition of Buton Industries (street furniture)
2023: acquisition of Lebeau Moulages Béton (urban equipment)
End of 2024: acquisition of MPS Toilettes Automatiques (hygiene solutions), accompanied by a second LBO
2025: acquisition of AZ Métal

With this new transaction, the Mansio group now employs 250 people across five production sites in France (Mayenne, Vendée, Cher, and Côtes-d’Armor) and has consolidated revenue in excess of €50 million. Mansio is one of the few diversified players in the French market with three complementary areas of activity.

A team from the law firm Cornet Vincent Ségurel, led by Pierre Lamidon, partner, assisted the Mansio group with the legal and tax structuring of this acquisition.

Participants

Company: AZ Metal (Ronan Le Tiec)

Buyer:

Mansio Group (Joël Bresteaux, Eric Fayol, Jean-Christophe Pascual)
Yotta Capital Partner (Benoît Perrot, François Rouault de La Vigne, Nina Hervé)
SWEN Capital Partners (Laurent Ghilardi, Léo Alvarez)
Épopée Gestion (Aymeric Le Renard)
BNP Paribas Développement (Julien Marronnier, Marjorie Loiseleur)

Seller: AZ Metal (Ronan Le Tiec), Sodero (Jean-Claude Cobat)

Debt: Hélia BPL (Lionel Milot, Delphine Guignard), Arkéa Banque Entreprises et Institutionnels (Mickael Chambon, Christophe Coz), Caisse d’Epargne Bretagne Pays de Loire (Sébastien Walkowiak, David Laidet), Crédit Mutuel Maine Anjou Basse Normandie (Mathilde Le Roy), BNP Paribas (Hugo Cotin), BRED (Charlène Fretay)

Advisors

Mansio Group lawyer: Cornet Vincent Ségurel (Pierre Lamidon, Sabrina Lemarié, Bleuen Geffray)

Financial due diligence: Eight Advisory (Christophe Delas, Guillaume Roque)

ESG due diligence: Nileo (Mélanie Guesné), Vertical Sea (Sylvain Bergeronneau)

M&A advisor to the seller: Societex (Clément Matelot, Thierry Depoux, Romain Allain)

Lawyer to the seller: Martine Vazel Law Firm (Marion Le Doeuff)