EPSA Innovation announces the acquisition of FI Group's international activities and becomes the global leader in innovation financing

• EPSA, a specialist in financial, operational and environmental performance, is a major player in innovation financing in France and Europe. EPSA Innovation, with €82 million revenues in this business segment (50% in France and 50% internationally), is experiencing rapid organic growth in Spain, Germany, the United States, Brazil, Italy, Belgium, Poland and Portugal.
• EPSA announces the acquisition of FI Group, a global specialist and established leader in innovation financing in Spain, Brazil and Portugal, also present in the United Kingdom, Hispanic America, Italy, Belgium, Germany and Singapore, with €100 million revenues.
• This strategic acquisition marks the emergence of EPSA Innovation as a global leader in innovation financing with projected €182 million revenues in 2025, more than 1,800 experts and 19,000 customers worldwide.

EPSA is the European specialist in performance optimization with a turnover of €500 million and a global presence. With the acquisition of FI Group’s international activities, EPSA is now the international leader in innovation financing. This milestone marks a significant step forward in EPSA’s global growth strategy, strengthening its strategic position in Southern Europe and the Americas.

The transaction does not include F. Initiatives (the former French entity of FI Group), which was separated from the rest of the group and carved out in June 2024 due to differences in strategic and operational priorities.

FI Group and EPSA share a common vision of innovation and consulting, rooted in a strong corporate culture based on expertise, service quality, technical excellence and regulatory compliance.

This acquisition also marks an important step in the development of EPSA Innovation, the new business unit dedicated to innovation financing: Research and Innovation Tax Credits, international and national grants (innovation, CAPEX, decarbonization, etc.) and IP Box. EPSA Innovation and FI Group will consolidate their presence in key markets and explore opportunities for future expansion together.

Thanks to this merger, EPSA Innovation will be present in 20 countries, with more than 1,800 experts in innovation financing, more than 19,000 clients supported, more than 20,000 projects per year and will process more than €2.6 billion in innovation grants.

María Corominas, CEO of FI Group, declares: ‘Today’s announcement marks the culmination of a journey that began when we first considered opening up to an investor to strengthen our financial capacity, support our expansion into new markets, accelerate our digitalization and diversification strategies, and improve our management capabilities. This process has prompted a thorough internal review and led to significant improvements in the way we operate as a company. What makes this new stage with EPSA particularly exciting is not only the strategic fit but also the cultural alignment. We share a common vision, underpinned by values such as integrity, excellence and commitment to compliance. Thanks to EPSA’s global reach and expertise, we are now able to offer an even stronger and more international value proposition, setting a new benchmark in the innovation financing sector and paving the way for ambitious projects and long-term success for our teams and clients.’

Godefroy de Colombe, CEO of EPSA Group: ‘The acquisition of FI Group strengthens EPSA’s leadership in innovation financing, a strategic issue for public institutions and companies facing current macroeconomic and geopolitical challenges. It consolidates our foothold in Southern Europe and enables us to accelerate our growth in South America and the United States. Together, EPSA and FI Group will be able to meet the needs of our customers with an extensive offering that is both local (in Spain, for example) and international for our global customers.’

Charles-Edouard de Cazalet, Director of EPSA Innovation: ‘In a context where companies’ expectations in terms of innovation financing are changing significantly, the creation of a global leader seems obvious. This project is based on solid foundations: quality customer relations, operational efficiency, excellence, regulatory compliance, technological innovation and shared values. We are delighted to welcome Maria Corominas and the FI Group teams to the EPSA adventure to accelerate our momentum and continue to develop our presence in our key markets.’