Climater : Over 500 employee shareholders form the foundation of a stable ownership structure
Founded on the basis of the GILET family business, Climater has, over 35 years, become one of the leading in-house provider of building mechanical services in France, Canada, and Switzerland.
More than 500 managers and employees hold a significant stake in the company thanks to a shareholding value-sharing policy initiated in 2005 by Stéphane GILET.
This model has been instrumental in our success from the very beginning and at each acquisition, where we consistently offered managers and employees the opportunity to participate in Climater’s ownership to support the transition.
“Transfer of expertise and governance within Climater’s companies and at Group level has always been a major priority for our leadership, in order to maintain the quality of services owed to our clients and ensure our operational and financial excellence.”
To continue this committed leadership that embodies Climater’s values, Yves GILET handed over the presidency to his son Stéphane in 2002. In June 2023, Marc TROUCHAUD, Managing Director since 2013, succeeded him as CEO.
As of 2025, Stéphane GILET has become Chairman of the Supervisory Board while remaining a key shareholder alongside his family, including his brother Christophe. Together, they continue to support this remarkable journey, embodied by its high caliber directors and employees under the leadership of Marc TROUCHAUD.
A Carefully Orchestrated Journey, Year After Year
Founding of a strong family business specialized in HVAC and plumbing engineering and installation.
Quercy Confort was established in 1989 by Yves GILET in Moissac (France), followed by the creation / acquisition of three additional companies in other French regions.
This period laid the technical and human foundations for success in the evolving field of HVAC and plumbing.
By 2002, the company had 83 employees and €10.5 million in revenue. His son Stéphane succeeded him on July 1st, 2002.
Accelerated growth along with end-market and client diversification.
Across both regions, Quercy Confort Group grew rapidly, increasingly contributing to major regional projects in industrial, commercial and government sectors.
As time went by, Quercy Confort became a leading reference in its respective end-markets.
Staff increased to 131 and revenue reached €24 million.
Climater was created through the partnership between Quercy Confort Group led by Stéphane GILET and the private equity investor 'Industries & Finances' represented by Marc TROUCHAUD.
This marked the beginning of a buy and build strategy aiming at creating a multi-regional group specialized in building mechanical services.
During this period, six acquisitions were made in Occitanie (France) and Provence-Alpes-Côte d’Azur (France). The Group’s model, made up of high-performing, independent companies embedded in their ecosystems, sharing resources and best practices, was born.
In 2010, we created CID (Climater Engineering) to position the group on design & build projects and thus, strengthen our service offering. Climater Maintenance was also established.
Acquisitions included: RC-Clim, Bourrié, GPR, Justumus, Groupe GCM, and Alpes Sanitherm.
This phase was marked by the second LBO backed by private equity investor Weinberg Capital Partners. Climater continued its M&A pace with four acquisitions across three regions, including two new ones: Aquitaine and Paris region, along with significant strengthening in the Auvergne-Rhône-Alpes region.
During this period, we standardized and enhanced the quality of our costing and purchasing processes. We implemented dedicated ERP for project monitoring (Espace Affaires), costing / pricing (Quick Devis) and standard materials purchasing (BASC).
Acquisitions: Groupe CMFT, Aurion, Aditec, and Groupe Air Climat.
We initiated our international expansion with the acquisition of Thermex in Switzerland.
Five other companies joined Climater in the Lyon region (France), Nouvelle-Aquitaine (France), and Occitanie (France), where we became the market leader in building mechanical services.
By early 2021, our workforce exceeded 1,000 employees, with 24 companies across 2 countries. We also strengthened our central holding team (CFO, Legal Director, IT, and HR).
Acquisitions: Groupe EFM, Sedicam, Thermex, Amardeilh, Thermatic, and Favre.
With the support of our financial sponsor Sagard, who has been with the group since 2018, we entered the Canadian market through the acquisition of Groupe GR, rapidly followed by Aéro Mécanique Turcotte.
Acquisitions: GR, Aéro Mécanique Turcotte.
The co-presidency between Stéphane GILET and Marc TROUCHAUD, initiated in 2022, came to an end. Marc TROUCHAUD became CEO of Climater. End of Q1 2025, Stéphane GILET became Chairman of the Supervisory Board. Just as in 2002 between Yves and Stéphane GILET, the transition between Stéphane and Marc was carefully planned long in advance.
With two additional acquisitions in the Greater Montreal Area (Canada), Climater became, in just two years, one of the leading building mechanical services company in Quebec and across Canada.
Acquisitions: LS, HVAC.
ATSI (France) joined Climater, bringing our first major diversification into automatic fire protection (sprinkler systems) with a national (France) network of agencies.
Acquisition: ATSI.
