Key Takeaways
- • Amethis acquired a majority stake in ATI Industries through its Amethis Europe Expansion fund, alongside Bpifrance's FIEE2 vehicle and the management team, which is reinvesting significantly.
- • The deal marks the exit of the Arlane fund, which helped double ATI's size in recent years, according to the company's announcement.
- • ATI, based in Gien, France with around 60 employees, generated nearly €20 million in 2025 revenue, with average growth above 15% in recent years and about 60% of revenue earned outside France.
- • Amethis plans to support ATI's expansion in existing and new markets, with a focus on Europe, the Middle East and Africa.
Summary
Amethis has acquired a majority stake in ATI Industries through its Amethis Europe Expansion fund, which targets European small and medium-sized enterprises seeking international expansion, including into Africa. The fund invested alongside Bpifrance's France Investissement Energie Environnement 2 (FIEE2) vehicle and ATI's management team, which is reinvesting significantly in the transaction. The deal marks a new stage in the company's development and the exit of the Arlane fund, which helped double ATI's size in recent years. Publisher context also reports that ARLANE announced the sale of its entire majority stake to Amethis, Bpifrance and management.
Based in Gien, France, ATI employs around 60 people and specialises in the design, assembly, installation and maintenance of complex thermal solutions. The company serves three main markets: medical and industrial waste incineration, precious metals recovery, and human and animal cremation. ATI has commercial relationships in more than 60 countries, with roughly 60% of revenue generated outside France, notably in Europe, Africa, the Middle East, Asia and Latin America. The company generated nearly €20 million in revenue in 2025 and has grown by more than 15% on average in recent years.
Amethis and FIEE2 plan to help ATI scale in its existing markets and enter new ones, with Amethis supporting international growth particularly in Europe, the Middle East and Africa. Romain Gauvrit and Nicolas Manardo, senior partners at Amethis, and Rebecca Denyer, investment director, said in a joint statement that ATI has established itself as a leading player in high-value waste incineration and cremation markets, citing its engineering know-how, equipment robustness and filtration expertise. They said Amethis would give management access to its networks across Europe, Africa and the Middle East to support international expansion and external growth.
Maxime Picard, ATI's president, described the change in shareholder structure as an opportunity to develop projects and services for customers in France and abroad, and welcomed Amethis and Bpifrance as shareholders to support organic and external growth, particularly internationally.
Based in Gien, France, ATI employs around 60 people and specialises in the design, assembly, installation and maintenance of complex thermal solutions. The company serves three main markets: medical and industrial waste incineration, precious metals recovery, and human and animal cremation. ATI has commercial relationships in more than 60 countries, with roughly 60% of revenue generated outside France, notably in Europe, Africa, the Middle East, Asia and Latin America. The company generated nearly €20 million in revenue in 2025 and has grown by more than 15% on average in recent years.
Amethis and FIEE2 plan to help ATI scale in its existing markets and enter new ones, with Amethis supporting international growth particularly in Europe, the Middle East and Africa. Romain Gauvrit and Nicolas Manardo, senior partners at Amethis, and Rebecca Denyer, investment director, said in a joint statement that ATI has established itself as a leading player in high-value waste incineration and cremation markets, citing its engineering know-how, equipment robustness and filtration expertise. They said Amethis would give management access to its networks across Europe, Africa and the Middle East to support international expansion and external growth.
Maxime Picard, ATI's president, described the change in shareholder structure as an opportunity to develop projects and services for customers in France and abroad, and welcomed Amethis and Bpifrance as shareholders to support organic and external growth, particularly internationally.
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