Qualitas Funds has announced the successful sale of Solice, a company in the Qualitas Funds I portfolio. The transaction resulted in a gross multiple of 4.2x invested capital and a gross IRR of 108.5% for Qualitas Funds I investors.

Founded in 2002 and headquartered in Chapponnay, France, Solice is a designer and manufacturer of pre-insulated tubes for heating and cooling networks in urban areas, contributing to the reduction of greenhouse gas emissions.

Since the initial GP’s investment, the company has added four key management positions, including a CFO and the head of the Creutzwald production facility. It has implemented a “lean manufacturing” initiative that has significantly improved efficiency and productivity. Furthermore, it has taken steps to take advantage of the favorable momentum of the energy transition trend and increased demand for these projects throughout France.

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