EPSA Innovation Acquires FI Group’s International Business to Become the Global Leader in Innovation Financing
- EPSA, a specialist in financial, operational, and environmental performance, is already a key player in innovation financing in France and Europe. With revenues of €82 million in this sector (50% in France, 50% internationally), EPSA Innovation is experiencing rapid organic growth in Spain, Germany, the United States, Brazil, Italy, Belgium, Poland, and Portugal.
- EPSA has now announced the acquisition of the FI Group, a global specialist and established leader in innovation financing in Spain, Brazil, and Portugal, with a strong presence also in the UK, Latin America, Italy, Belgium, Germany, and Singapore, generating €100 million in revenue.
- This strategic acquisition positions EPSA Innovation as a global leader in the innovation financing market, with forecasted revenues of €182 million in 2025, more than 1,800 experts, and 19,000 clients worldwide.
Paris, 29/04/2025 – EPSA is the European specialist in performance optimization, with €500 million in revenue and a global presence. With the acquisition of FI Group’s international operations, EPSA has now become the global market leader in innovation financing. This milestone represents a significant step in EPSA’s global growth strategy and strengthens the company’s strategic position in Southern Europe as well as North and South America.
The transaction does not include F. Initiatives (the former French unit of FI Group), which was separated from the group in June 2024 due to differing strategic and operational priorities.
EPSA and FI Group share a common vision for innovation and consultancy, rooted in a strong corporate culture based on expertise, service quality, technical excellence, and regulatory compliance.
This acquisition also represents a pivotal step in the evolution of EPSA Innovation, the newly established division dedicated to innovation financing: including R&D tax credits, international and national grants (for innovation, CAPEX, decarbonization, etc.), and the IP Box. EPSA Innovation and the FI Group will consolidate their presence in key markets and jointly explore opportunities for further expansion.
Thanks to this merger, EPSA Innovation will operate in 20 countries, with more than 1,800 innovation financing experts, over 19,000 supported clients, 20,000+ projects annually, and will manage over €2.6 billion in innovation grants.
María Corominas, CEO of FI Group, commented: “Today’s announcement marks the culmination of a journey that began when we first considered opening up to an investor to enhance our financial capabilities, support expansion into new markets, accelerate our digital and diversification strategies, and improve our management capabilities. This process led to a thorough internal review and significant improvements in how we operate. What makes this new phase with EPSA particularly exciting is not just the strategic fit, but also the cultural alignment. We share a common vision, built on values like integrity, excellence, and regulatory compliance. With EPSA’s global reach and expertise, we can now deliver an even stronger, more international value proposition, setting new standards in innovation financing and paving the way for ambitious projects and long-term success for our teams and clients.”
Godefroy de Colombe, CEO of the EPSA Group, added: “The acquisition of the FI Group strengthens EPSA’s leadership in innovation financing – a strategic topic for public institutions and businesses facing today’s macroeconomic and geopolitical challenges. It reinforces our position in Southern Europe and allows us to accelerate our growth in South America and the United States. Together, EPSA and the FI Group will meet the needs of clients with a comprehensive offer, both locally (e.g., in Spain) and globally.”
Charles-Edouard de Cazalet, Director of EPSA Innovation, stated: “In a context where corporate expectations around innovation financing are shifting significantly, building a global leader is a logical next step. This project is built on strong foundations: solid client relationships, operational excellence, regulatory compliance, technological innovation, and shared values. We are excited to welcome María Corominas and the FI Group teams to the EPSA journey, as we accelerate our momentum and expand our footprint in key markets.”
About the FI Group:
The FI Group is a global consulting firm specializing in managing innovation funding. With over 25 years of experience, the company operates in Europe, the Americas, and Asia, with 34 offices and 1,400 international scientific and technical experts. FI Group supports over 15,000 clients in financing innovation through comprehensive management of R&D grants and tax incentives. www.fi-group.com
Source: www.de.epsa.com