Evariste brings together 90 companies active in public works, maintenance and gardening on behalf of local authorities. (Photo: Shutterstock)

Evariste brings together 90 companies active in public works, maintenance and gardening on behalf of local authorities. (Photo: Shutterstock)

Luxembourg investment company Luxempart has acquired Montefiore's shares in Evariste for €87m. The company is a platform for SMEs in public works, maintenance and green spaces that work for public authorities.

"We are very pleased to make a new investment in France, in a very dynamic group with strong market positions. Evariste has a strong entrepreneurial spirit and will continue to act as a magnet for local family businesses that wish to join a dynamic federation of service providers committed to preserving the autonomy of its members," Luxempart managing director Olaf Kordes said in a statement announcing the Luxembourg investment.

Luxempart has taken over the shares that Montefiore had held since the end of 2013 in this conglomerate of French small and medium-sized enterprises.

Still headed by its founder, François Lavallée, Evariste achieved a turnover of more than €8m last year, with strong growth over the past two years. The group comprises 90 companies with a total of 4,000 employees.

This story was first published in French on . It has been translated and edited for Delano.