Coriance

Coriance

Located throughout France and Belgium, Coriance operates a portfolio of 41 district heating concessions, delivering heat to residential, social and commercial buildings. Coriance serves a broad customer base across public and private sectors, including housing managers, schools, universities, hospitals, municipal buildings and industrial sites. Most of its revenues are generated from long-term heat contracts which typically have a duration of 20-30 years.
 

Under our ownership, Coriance instilled a robust health and safety culture through its health and safety action plan. This plan decreased accident frequency rates by 80% since the acquisition. As part of our drive to encourage strong governance, Coriance’s operational structure was improved through several digitisation initiatives that enhanced performance, sales effectiveness and customer experience. It also successfully drove sustainable savings across energy purchasing, G&A and personnel to improve long-term profitability. 
 

Over the investment period, Coriance’s win rates quadrupled, and market share rose from 5% to 8%. This resulted from the organisation's strategic restructuring, rigorous internal tender processes, and divestment of non-core services segments.
 

In 2019, Coriance expanded into the industrial heating market by acquiring the Commentry biomass cogeneration plant to support the local food processing industry. Coriance is now considered the greenest player in the French district heating market, resulting from 69% of its fuel mix deriving from renewable sources.