RAIL INDUSTRIES

CRITICAL CONNECTORS FOR THE RAILWAY INDUSTRY

Rail Industries, renamed SNIC Technologies in 2023, designs, manufactures and markets railway signalling components and systems (train detection, connectors, train-to-ground communication, level crossings). The group also serves demanding niche markets such as nuclear and defence.

Based in Bonneuil-sur-Marne (Val-de-Marne), the group has around 120 employees and works with SNCF, RATP and Alstom, in France and internationally.

KEY STRENGTHS

The group holds a position as a recognised specialist in railway signalling, a safety-critical market protected by high barriers to entry.

Initially a component supplier (connectors, train detectors), Rail Industries expanded into sub-systems and then complete signalling systems, becoming an OEM working directly with infrastructure managers.

Its asset-light model focuses on high value-added activities: design, assembly, integration and maintenance.

KEY MILESTONES

Innovafonds acted as majority shareholder between 2019 and 2023, alongside managers Xavier Payet and Vincent Menudier, in connection with the acquisition of Idemia’s railway activities.

The group has followed a very dynamic trajectory, with revenue growing from €14m to €36m.

Innovafonds supported the management team along three lines:

• ORGANIC GROWTH : moving upmarket into complete signalling systems and international expansion (United Kingdom with SNIC Rail UK, commercial partnership with a Spanish group),
• GROUP STRUCTURING : integration of acquired companies, implementation of consolidated reporting and debt refinancing,
• EXTERNAL GROWTH : transformative acquisition of Idemia’s railway activities (SNIC Rail, 2019), followed by SAIB (connectors for harsh environments, 2020) and SNIC Signalisation (systems, 2022), creating a leading player in France.