We have advised InSitu Groupe, an expert in the high-end to very high-end operated office market, on the sale of a minority stake in its capital from Armonia, a hospitality and facility management specialist and subsidiary of the Sofinord group.
Founded in 1997 in Blagnac, InSitu Groupe has achieved sales of €30m by 2023 and operates 60,000 sq.m. of office space in Toulouse, Montpellier, Aix-en-Provence, and Rennes. Its ultimate ambition is to accelerate its development on a national and international scale.
On the strength of this merger, InSitu Groupe is pursuing its development, aiming for sales of €100 to 150m over the next five years, with 200,000 sq.m. in operation. This aligns with Armonia's ambition to offer a comprehensive range of services to businesses in Europe as the relationship between work and the office changes.
Ambitious projects are already underway, including the opening of a "palace dedicated to businesses" at 186, avenue Victor Hugo in the 16th arrondissement of Paris by 2025, as well as the forthcoming move to the Compagnie de Phalsbourg Ecotone programme in Sophia Antipolis and the takeover of 14,000 m² in Marne-la-Vallée.