AXA invests in French house builder

The private equity unit of French insurance giant AXA has bought a stake in Trecobat Group for an undisclosed sum.

AXA Private Equity, the buyout arm of the French insurer, has taken a stake in
Trecobat Group, a builder of single family houses in Brittany, for an undisclosed sum.

The group’s turnover in 2006 was €105 million, selling more than 1000 houses during the year.

Its brand names Trecobat and Maisons Goëland are established throughout the Brittany region. The group is also present in the growing market for all-wood constructions, under the brand Maisons Nature et Bois, which currently accounts for some 10% of turnover.

Trecobat has also introduced a new design of single family house that emphasises energy saving.

Founder Marcel Treguer is staying on as chairman of the company, while ensuring the business’s senior management teams also have their own equity holdings.

Growth plans focus on the Brittany region, but do not rule out the possibility of developments elsewhere, according to a statement.

AXA Private Equity manages and advises private equity funds with assets in excess of €10 billion.