The Fayat Group has announced that Clément Fayat, founder of the company, passed away at the age of 90.
A statement from the Fayat Group said he was a native of the Corrèze department, in south-central France and remained loyal to his rural roots. Clément Fayat was “a visionary entrepreneur” and "a self-taught man who was self-assured and inspired.”
In 1957, Fayat acquired his first excavator and created Société Nouvelle de Terrassement with the company Vincent, which still employed him at the time - he was only 25 years old. He later acquired his employer Vincent, the first of many acquisitions. With the acquisition of Bec Frères in 2002, Bomag in 2004 and Razel in 2008, the Fayat Group entered the sectors of earthworks, civil engineering and construction.
The global Fayat Group today has 21,666 employees, €4.6 billion in turnover in 2021 and operates in 170 countries. He stepped down a few years ago to hand the management over to his two sons, Jean-Claude and Laurent.
“All of us who had the opportunity to meet him can attest to the profound respect commanded by this tireless worker. He was both admired and feared, and profoundly respected by his employees and peers for his fairness and rigour,” noted the Group’s statement. “We extend to his sons Jean-Claude and Laurent Fayat, as well as to their entire family, our heartfelt condolences.”
