Résidis announces the acquisition of the VSP-Logely group, making it one of France’s leading providers of solidarity accommodation
Résidis, a specialist in solidarity accommodation, announces the acquisition of the VSP-Logely Group, which brings together the companies Voyage Services Plus, a receptive agency specializing in tourism, and Logely, a leading player in emergency accommodation. The structuring merger project between the different entities, concluded on December 31, 2023, outlines the contours of a significant project: to become the reference player in solidarity accommodation in France.
This merger marks the birth of a group with strong values: those of solidarity, commitment, and responsibility towards the populations in precarious situations hosted within its 21 residences, which comprise 2,846 apartments.
Offering high-quality, self-contained accommodation adapted to the needs of the sheltered population
The new group is a commited actor prioritizing housing quality as a fundamental condition for empowering individuals referred to its facilities. The two entities share significant operational synergies and will now jointly provide high-quality, fully self-contained solidarity housing. These accommodations feature fully equipped apartments, complete with kitchenettes, bathrooms, and sanitary facilities, all strategically located for easy access to public transportation and local amenities.
The accommodation solutions offered by the merged group are specifically tailored to meet the needs of vulnerable groups referred to the structures of the group, including precarious workers, single women with children, and families. The combined expertise of the Résidis and Logely teams in hotel management and social innovation, coupled with their proficiency in welcoming and supporting residents, enables the new group to deliver top-notch assistance to its public, para-public, and associative partners. This support is coordinated by qualified staff specially trained to assist individuals facing precarious situations.
New short-term strategic directions to complement the development of new residences
As social diversity is a major concern for the Group, a new range of publicly approved accommodation, such as mobility residences, will be developed. A brand dedicated to RHVS (“Residences Hôtelières à Vocation Sociale”) will be created to diversify quality accommodation solutions at a controlled cost.
This new offering will benefit from a booking platform, operational from 2024, aimed at social partners and private individuals, in particular working people or young people on the move, looking for temporary accommodation, thus enabling us to welcome a mixed public within our RHVS.
Finally, the Group is systematically expanding the residences it owns and operates, to offer ever-greater accommodation capacity to its clients. For example, 25 apartments will be created in the Bussy-Saint-Georges (Seine-et-Marne) residence in 2024, built to the highest quality standards and designed to relieve congestion in dilapidated social housing and accommodate vulnerable groups in exemplary conditions. The Group will also be opening a new 45-apartment Appart-Hotel in Paray-Vieille-Poste (Essonne), also in 2024, to accommodate people with reduced mobility.
A group backed by leading financial partners, fully in line with the social impact approach at the heart of the Résidis project
Backed since 2020 by Metric Capital Partners and Weinberg Capital Partners, Résidis has implemented an ambitious and innovative social impact approach across its ten existing residences, which will be applied within the Logely Group’s nine residences and the two new Résidis residences due to open in 2024 in Toulouse.
The aim of this impact plan is to improve residents’ quality of life and facilitate their independence, and to ensure a perfect alignment of interests between all the Group’s stakeholders, notably its principals, its partners, the local authorities within which Résidis operates and the populations it houses.
As part of the merger with the VSP-Logely Group, the Group raised ESG-compliant financing, underwritten by leading lenders: Eiffel Investment Group (notably via impact funds), BNP Paribas Asset Management and Bank of Ireland. Sienna Investment Managers, lender to the VSP-Logely group, has confirmed and extended its support for the new group.
The newly formed group is thus supported by a group of financial partners who fully endorse its approach to institutionalizing and professionalizing the social housing sector.
Chiffres clés des activités du groupe :
- 17 residences in the Paris region and 4 in the PACA and Occitanie regions
- 2,846 fully equipped self-contained apartments
- Up to 8,956 accommodation places available to partners
- A network of 110 hotel partners offering an additional 9,000 accommodation places nationwide and trained to welcome a wide range of people
Résidis: Alexandre Fedoroff (Managing Director), Marc-Edouard Trentesaux (Finance and Administration Director), Sabrina Nadji (Social Impact Director)
VSP-Logely: Robin Cote
Metric Capital Partners: John Sinik, Alastair Balfour, Louis Robert, Robert Blase, Nicolas Angelier, Laszlo Gut
Weinberg Capital Partners: Cédric Weinberg, Aude Wathier
Eiffel Investment Group: Marie Bursaux, Edouard Grimm
BNP Paribas Asset Management: Giovanni Girbino
Bank of Ireland: Nicolas Sandevoir, Marius Le Tan
Sienna Investment Managers: Florent Villaret
Advisors to Résidis :
Legal consulting: White & Case
Corporate: Saam Golshani, Alexandre Balat, Baptiste Ferraud
Financing: Neeloferr Roy, Michel Courtois, Philippine Chinaud
Tax: Estelle Philippi, Claire Sardet
Financial Due Diligence: Eight Advisory (Rupert Templeman, Dan Parsons, Sixtine de Menthon, Charline Pebe)
Financial advisors: Rothschild & Co (Grégory Fradelizi, Alexandre Duhem, Adam Lado, Baptiste Marquet)
Advisors to VSP-Logely
M&A advisory: PwC Corporate Finance (Antoine Grenier, Salim Berkaïne, Juliette Courret)
Legal consulting : Fidal (Thomas Bortoli, Virginie Mouls)
Tax: PwC Société d’Avocats (Jérôme Leroux, Virginie Reynaud-Dulaurier)
Goodwin (Adrien Paturaud, Laurent Bonnet)
SVZ (Emmanuelle Vicidomini)
Résidis is one of France’s leading private operators in social housing.
With 11 years’ experience in the hotel and shelter business, Résidis is one of France’s leading providers of social housing, with over 3,000 residents a day and a staff of nearly 100.
Résidis currently operates 10 sites, including 8 in the Paris region, and 2 in the south of France, in Marseille and Perpignan, close to business districts and city centers.
To tackle the problem of homelessness and help people facing temporary housing difficulties, Résidis offers a flexible accommodation solution combining the comfort of independent housing, quality of service and controlled prices.
Our determination to act as a responsible player is reflected in our new impact-based business model, with concrete commitments and resources dedicated to improving the quality of life of our residents. It’s about more than just providing quality accommodation; we’re creating the conditions for a dignified and inclusive residential pathway.
We create real “places to live”! Quality apartments and services to guarantee their autonomy and safety, shared residential areas and a range of socially oriented activities to promote integration, well-being and living together.
For more information: www.residis.fr
Responsible, supportive, and committed, Logely provides decent accommodation solutions for people in precarious situations. Its offer is aimed at the entire emergency accommodation ecosystem, whether public bodies, associations, or private sector companies. Logely strives to offer ever-higher quality accommodation to people in need. Our residences accommodate almost 4,700 people a day, and we actively collaborate with 60 organizations and players in the social sector, with whom we share common values and ambitions: to enable people in precarious situations to benefit from decent accommodation, to welcome them with kindness, and to provide them with the best possible support during their stay, through informative and educational activities. Thanks to its scale, Logely can offer a wide range of accommodation options for both single people and large families.
For more information: www.logely.fr
Voyages Services Plus (VSP) is an incoming agency that relies on a team of multilingual professionals and a network of specialists to enable its customers to find the exceptional and escape to live new experiences through travel. VSP meets all your expectations and offers a wide choice of services: hotels, transfers, restaurants, trips, excursions, guided tours, cabaret for groups or individuals, hobbies or business and for all budgets.
For more information: https://vsp-incoming.com/en/home
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