LP Promotion (the “Group”) is pleased to welcome Aermont Capital Real Estate Fund IV, advised by Aermont Capital (together, “Aermont”), as a new shareholder alongside the management. The operation allows Abenex, shareholder since 2017, and the Group’s founder Lucien Ponsot to sell their stake in the Group.
Twenty-five years after it was created in Toulouse in 1996, LP Promotion has become a leading residential real estate player in France. Active in both residential property development and serviced residence management, the Group has offices in seven locations in Occitanie, New Aquitaine and Île-de-France.
The new shareholder structure ensures the continuity of management and operations and allows several managers to enter the Group’s capital. It also brings substantial additional financial resources to support the growth ambitions of the Group, including new regional openings and acceleration of the development and management of serviced residences (student, co-living, intergenerational and seniors).
“We are delighted to partner with Aermont, with whom we share an ambitious vision for our future. As under Abenex ownership, we plan on strengthening our role as a key housing partner for local authorities and accelerating our development nationwide. We are also proud to welcome several Group managers as shareholders, sharing the value that we create together, and further fostering commitment and loyalty to the Group.”, commented Laurent Ponsot, Managing director of LP Promotion.
“Our investment in LP Promotion is an exciting opportunity to support a major player in French residential development, with a history of strong growth with nearly 2,700 units reserved in 2019 vs. 1,700 four years ago. We have been particularly impressed by the quality of the management team and the strong values held by the Group, as well as its potential for significant expansion as a property developer and operator. We are delighted to participate to the acceleration of its development.”, says Vincent Rouget, Aermont.
“We are proud to have supported the managers of LP Promotion during these four years, during which the Group structured its organization to consolidate its leadership in Occitanie and New Aquitaine, and successfully developed its presence outside its historic markets, particularly in Île-de-France. We wish the managers continued success on this exciting entrepreneurial adventure with their new partner.”, specify Olivier Moatti and Julien Keignart, Abenex.
