Azulis Capital
Key facts
Recent exits
Coverage notes
4 funds tracked, 43 portfolio companies (20 active · 23 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Azulis Capital has raised, with its portfolio companies. Hand-checked from public filings.
Azulis MMF VIBuyout2021 · 5yr€280M12 active
Unrealized
12 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| ACENSI | TMT | France | 2025 |
| ADVANS GROUP | Industrials | France | 2023 |
| DESTIA | Healthcare | France | 2021 |
| EURADIF | Industrials | France | 2022 |
| FIDEL FILLAUD | Industrials | France | 2021 |
| HeRo medicare | Healthcare | France | 2026 |
| HJD Process Vegetal Techno | Consumer | France | 2025 |
| La Phoceenne de Cosmetique | Consumer | France | 2021 |
| Mews Partners | Business Services | France | 2026 |
| NERCO | Industrials | France | 2024 |
| ORSYS | Business Services | France | 2021 |
| WICHARD | Industrials | France | 2023 |
Azulis MMF VBuyout2015 · 11yr€215M6 active · 9 realized
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Eksae | TMT | France | 2019 |
| Frio - La Sommeliere | Consumer | France | 2019 |
| Ital Passion | Consumer | France | 2019 |
| Jordenen | Business Services | France | 2018 |
| La Boutique Officielle | Consumer | France | 2016 |
| Love & Green | Consumer | France | 2019 |
Realized
9 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| DESTIA (MMF V) | Healthcare | France | 2016 | 2021 | – | – | – |
| HELIOS | Industrials | France | 2019 | 2022 | Trade Sale | – | |
| Ital Express (MMF V) | Industrials | France | 2019 | 2024 | Secondary | – | |
| Marcel & Fils | Consumer | France | 2015 | 2021 | Secondary | – | |
| Meotec | TMT | France | 2018 | 2024 | Secondary | – | |
| Novepan | Consumer | France | 2017 | 2022 | Secondary | – | |
| Radiologie Paris Ouest | Healthcare | France | 2019 | 2024 | Trade Sale | – | |
| Talis Business School | Business Services | France | 2020 | 2021 | Secondary | – | |
| Vivalto Vie | Healthcare | France | 2015 | 2020 | Secondary | – |
Azulis MMF IVBuyout2011 · 15yr€225M1 active · 7 realized
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Father & Sons | Consumer | France | 2014 |
Realized
7 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Bioclinic | Healthcare | France | 2012 | 2018 | Secondary | – | |
| CEME | Industrials | France | 2014 | 2022 | Secondary | – | |
| Holweg Weber | Industrials | France | 2012 | 2018 | Secondary | – | |
| Ital Express | Industrials | France | 2014 | 2019 | Secondary | – | |
| Lagarrigue | Healthcare | France | 2011 | 2016 | Secondary | – | |
| LV Overseas | Industrials | France | 2013 | 2019 | Secondary | – | |
| Sitour | Business Services | France | 2011 | 2017 | Secondary | – |
Azulis MMF IIIBuyout2004 · 22yr€109M1 active · 7 realized
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Altair - Groupe Brunel | Industrials | France | 2010 |
Realized
7 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Inicea | Healthcare | France | 2010 | 2016 | Secondary | – | |
| Mademoiselle Desserts | Consumer | France | 2009 | 2018 | Secondary | – | |
| Martine Specialites | Consumer | France | 2009 | 2013 | Secondary | – | |
| Optimum | Industrials | France | 2010 | 2015 | Secondary | – | |
| Prodene Klint | Consumer | France | 2009 | 2014 | Trade Sale | – | |
| Rossignol (waste bins) | Industrials | France | 2009 | 2021 | MBO | – | |
| Savena | Consumer | France | 2007 | 2011 | Secondary | – |
Saved GPs appear in your watchlist, one click from your workspace.
About Azulis Capital
Azulis Capital is a French mid-market private equity firm with €495 million of assets under management as of December 2024, headquartered in Paris. The firm has built a multi-decade track record across successive flagship vintage funds focused on French mid-cap LBO transactions, with sector breadth across industrials, healthcare, business services and consumer verticals spanning the French mid-market spectrum.
Investment thesis
Azulis targets French mid-cap LBO transactions with equity ticket sizes typically ranging from €10 million to €40 million per transaction, focusing on profitable companies with strong management teams and growth potential. Sector focus spans Industrials, Healthcare, TMT and Business Services, with the firm emphasising operational value creation through management team partnership and selective bolt-on M&A strategies across the holding period.
Recent activity
Recent realised exits include Ital Express (industrials, 2024), Meotec (TMT, 2024), Radiologie Paris Ouest (healthcare, 2024) and CEME (industrials, 2022), reflecting active distribution across multiple sectors. The platform tracks 4 funds, 18 active portfolio companies and 22 realised exits across the multi-vintage French mid-cap programme. Detailed buyer names and multiple data available on Pro at €29/month.
Similar firms
Other private equity firms tracked on GP Intel.
France·€196.0BFrance·€52.8BFrance·€40.8BFrance·€39.0BFrance·€33.8BFrance·€33.0BFrance·€27.0BFrance·€23.0BFrance·€21.2BFrance·€20.0BFrance·€13.4BFrance·€13.2B