Drooms, Europe’s leading provider of digital data rooms, has announced that it supported Quadran, the independent market leader for the production of green energy, in structuring the Group’s due diligence process as part of its capital campaign, as well as ensuring the secure exchange of confidential documents between the different stakeholders involved.
In using the virtual data room solution from Drooms, Quadran’s operational teams were able to upload all documents relevant to the capital increase to the data room, define regulations for document access management, choose which users to invite and set access permissions for each individual document. This allowed both investors and Quadran partners to gain secure, real-time access to transaction-relevant documents.
Supporting Quadran’s growth by streamlining the due diligence process
The Quadran group, formed by the merger of JMB Energie and Aérowatt, has become one of France’s foremost independent green energy producers in less than a decade. As part of its strategy to cement its leading position, Quadran’s aim has been to accelerate the construction of new power stations, in particular wind and solar farms, in order to contribute to the growth of renewable energy in France while also reinforcing its local presence. To this effect, Quadran has launched a campaign to strengthen its equity base by raising capital from long-standing partners (Demeter Partners, SORIDEC and IRPAC Development under the management of UI Gestion) as well as investment banks ARKEA and BPI.
In terms of software, the due diligence process was facilitated by the virtual data room solution from Drooms. This allowed Quadran to make transaction-relevant documents available to investors, meaning that they were granted real-time access to 350,000 pages of documentation, all available online. The advanced permissions and documentation access management functionality enabled Quadran to effectively control the different stages of the due diligence process.
Jérôme Billerey, Chief Executive Officer at Quadran: “We were especially pleased with the reactivity of the data room solution from Drooms, as well as the support we were given, in particular with regard to uploading documents, setting permissions and inviting authorised users. Drooms enabled us to optimise and streamline the due diligence process for all the different parties involved in the project.”
Jochen Nuessle, Vice President at Taylor-DeJongh: “The Drooms platform was particularly intuitive and fast. Real-time document access meant we were able to save valuable time despite the sheer volume of documentation involved.”
Alexandre Grellier, Managing Director at Drooms: “We are pleased to have been able to help the Quadran Group implement this important step in its development strategy. It is an honour to have provided technical support for this major transaction in the field of renewable energy.” The capital campaign enabled Quadran to raise EUR 45 million, of which EUR 25 million was invested in equity by BPI France and EUR 5 million by Arkea Capital Investment. The remaining EUR 15 million was invested by the group’s long-standing financial backers (Demeter Partners, SORIDEC and IRPAC Development under the management of UI Gestion). The group is now preparing to embark upon a new phase of development.
