Energy transition Spac to be listed on Euronext Paris
Euronext Paris is set to welcome a new special purpose acquisition company (Spac) in the next few days. French entrepreneurs Xavier Caitucoli and Erik Maris as well as the chairman of Eiffel Investment Group Fabrice Dumonteil (through the Eiffel Essentiel SLP1 fund) are planning to list the Transition Spac which aims to make acquisitions in the energy transition sector.
The trio said in a statement that the objective of reaching carbon neutrality by 2050 will “bring a true big bang in the energy sector” and that a new type of player, especially in Europe, will emerge from this trend.
Thus, the Transition Spac will seek to acquire one or more companies recognised in the energy transition sector and headquarted in Europe. That with a view to build a new major player, “diversified and integrated on the value chain, which will be able to meet the challenges and changes of the energy sector over the next three decades,” according to a release.
Caitucoli has been the co-founder and CEO of French energy alternative supplier Direct Energy until 2019, a year after the company was sold to TotalEnergies. He then founded Crescendix.
Regarding former Lazard's vice chairman Maris, he co-founded and headed the investment bank Messier Maris & Associés from 2010 to 2020 until it was sold to Mediobanca. He now runs his own investment company Schuman Invest and is an advisory partner at Advent International.
As to Dumonteil, he is the founder, chairman and CEO of Paris-based Eiffel Investment Management, established in 2008 and numbering €3.5bn in assets. The firm's Eiffel Essentiel SLP fund is a growth equity fund dedicated to the energy transition.
The three entrepreneurs are backed by a board of directors composed of Marie-Claire Daveu (chief sustainability officer and head of international institutional affairs at Kering), Colette Lewiner (independent director), Christine Kolb (founding partner and head of business development at Sycomore AM), Béatrice Dumurgier (independent director) and French billionaire Monique Nepveu (independent director).