Watera has reshuffled its board of directors, bringing Centre Capital Développement back as a board member and replacing Groupe Okwind, the company said in a statement.
The move is framed not as a break but as a renewed relationship with what Watera calls a “historic” partner—signaling ties that predate this latest board mandate as the company pursues its growth strategy.
Centre Capital Développement returns to Watera’s board
Watera said Centre Capital Développement has rejoined its board as a director, taking the seat previously held by Groupe Okwind. The company described the change as a strengthening of a long-standing partnership aimed at supporting Watera’s growth strategy.
The wording of Watera’s announcement emphasized continuity rather than disruption, presenting the board change as a reinforcement of an existing relationship.
Who is Centre Capital Développement?
Centre Capital Développement is registered under legal form 5710 and is headquartered on Rue de Monttessuy in Paris’ 7th arrondissement. The firm was created on May 28, 2015, and remains active, according to official French records from INSEE and INPI.
Its chief executive is Philippe Boudriot, the same official data shows.
A busy 2026 market for growth equity
The growth-equity market in France remains active in 2026, with regional and national players competing for stakes in companies in expansion mode. Watera’s decision to add Centre Capital Développement to its board fits that broader dynamic, as funds seek to deepen their positions in businesses they view as having identified potential.
What the governance change could mean for Watera
The return of Centre Capital Développement signals a long-term relationship between the investor and Watera, given that the firm had already served on the board in the past. Watera is also explicitly presenting the partnership as a lever to support growth, though it has not publicly detailed priority initiatives.
At the same time, swapping out Groupe Okwind and bringing in a specialist in capital development changes the balance between industrial and financial perspectives inside the boardroom.
Groupe Okwind exits the board, with no public financial details
Watera did not present Groupe Okwind’s departure as a contentious disengagement. Neither side appeared to issue a public explanation for the exit, and no financial terms of the change were disclosed.
Such board-level shifts are common among growth companies seeking to align directors with current priorities. A returning “historic” investor can also indicate a desire to refocus or accelerate along certain strategic lines.
Governance is getting more attention for mid-sized companies
Governance at France’s mid-sized companies—often referred to as “ETI,” a French category roughly akin to mid-market firms—has drawn increasing attention. A June 2026 opinion piece in La Tribune argued that ETI companies remain largely absent from governance debates despite their role in employment and regional economic vitality.
Watera’s decision to reinforce its board with a growth-equity specialist runs counter to that pattern, potentially influencing financing priorities, choices about target markets, and the pace of expansion.
What Watera’s “return” language suggests about its trajectory
Watera’s use of the word “return” is telling: Centre Capital Développement had previously held a board seat, later giving way to Groupe Okwind, and is now coming back. The back-and-forth suggests the relationship between Watera and Centre Capital Développement remained intact over time—and that the investor continues to see potential in the company.
For Watera, the challenge now is turning a governance reshuffle into operational momentum. A refreshed board does not create value on its own; the strategic agenda it drives will determine whether the change produces concrete results in the months ahead.
Key facts at a glance
Centre Capital Développement has joined Watera’s board, replacing Groupe Okwind. Watera describes Centre Capital Développement as a historic partner that is returning to the board. Centre Capital Développement is based in Paris’ 7th arrondissement, was created on May 28, 2015, and is led by CEO Philippe Boudriot. Groupe Okwind’s exit was announced without public financial details. Watera says the move is intended to strengthen support for its growth strategy.
Sources
Les Echos Comfi; Capital Finance (Les Echos); La Tribune (June 2026 archives).
