We have advised SNAM on its fundraising of €8.7m, consisting of €5m in new shares and €3.7m through the conversion of shareholder loans.
SNAM (Société Nouvelle d'affinage des métaux), a subsidiary of Groupe Floridienne, has completed a capital increase alongside a cash-out. The capital increase, supported by a private investor, amounts to €8.7m, with €5m in new shares and €3.7m in the conversion of shareholder loans.
The company, which employs 100 people, is a European specialist in battery commissioning, particularly for the automotive industry (batteries from electric and hybrid vehicles). SNAM owns two industrial sites in Aveyron and Isère. Since 2012, the business has signed agreements with several car manufacturers (including Toyota, Honda, Volkswagen, Peugeot, Citroën, BMW, etc.) to collect and recycle used batteries from electric and hybrid vehicles.
