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Capelia

Capelia

Lyon, France·Founded 2008··capelia.net

Capelia is a Lyon-based independent private equity firm founded in October 2008 by five entrepreneur-founders: Louis Veyret (President and Managing Partner), Jean-Christophe Fayard, Richard Suscillon, Xavier Levesy and Stéphane Gay. AMF-regulated under GP-16000001 since January 2012, the firm operates a 100 percent entrepreneurs' fund model in which natural-person entrepreneurs serve as LPs, growing from more than 30 subscribers in Capelia V to 75 in Capelia VI. Headquartered in Lyon with offices in Lille since March 2021 and Paris since September 2024, the team numbers around 13 staff including 6 associates. AUM exceeds EUR 155M across active vintages: Capelia V (final close of EUR 55M in March 2021), Capelia Impact (launched 2022, Article 6 SFDR) and Capelia VI (EUR 100M final close in September 2024, raised in under 3 months with 25 new entrepreneurs). The firm targets profitable French SMEs with EBITDA above EUR 1M and enterprise values of EUR 5M to 50M, taking minority or majority stakes in transmission and development deals with tickets of EUR 2-12M across all sectors, France only. Notable exits include ERE (Entreprise Redonnaise d'Electricite, partial sale to LBO France Secondary in 2025 with Capelia retaining a minority stake) and 123 Elec (tertiary LBO with Siparex Midcap in January 2026).

AUM
€155M
Funds
3
vintages 2008–2024
Portfolio
38
Exits
4

Capelia is a Lyon buyout firm with €155M AUM, 38 active companies and 4 exits.

Key takeaways
  • ·4 exits in the last 5 years · consistent DPI cadence.
  • ·Average hold across 4 realized deals: 6 years.
  • ·Top sector focus: Industrials (43% of portfolio).

Sector breakdown

42 companies
Industrials
18 · 43%
Consumer
13 · 31%
Business Services
3 · 7%
IT Services
2 · 5%
Telecom
1 · 2%
Energy
1 · 2%
E-commerce
1 · 2%
Construction
1 · 2%

Geography breakdown

2 geographies
France
41 · 98%
Valence, Auvergne-Rhône-Alpes, France
1 · 2%

Key facts

HQLyon, France
Founded2008

Recent exits

123ELEC

Capelia sold 123elec to Siparex Midcap + co-investors in 2026 after 6 years.

Capelia sold Everest to Batibig in 2026 after 9 years.

ERE

Capelia sold ERE to LBO France in 2025 after 3 years.

YMAG

Capelia sold YMAG to Septeo in 2024 after 6 years.

Coverage notes

3 funds tracked, 42 portfolio companies (38 active · 4 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

Every fund Capelia has raised, with its portfolio companies. Hand-checked from public filings.

3 funds
Capelia VI Fund
Buyout2024€100M14 assets1 exits

Unrealized

14 held
CompanyEntry
Absys
IT Services · France
2023
Antinea
Industrials · France
2023
Arnest
Industrials · France
2025
Blackandgold
Telecom · France
2024
BT Power
Industrials · France
2025
Deguisetoi
Consumer · France
2023
Handishare
Business Services · France
2024
Hera Distillerie GUY
Consumer · France
2023
Joint Dual
Industrials · France
2023
Ledperf
Industrials · France
2023
Praxy DÉVELOPPEMENT
Business Services · France
2024
Resma
Industrials · France
2023
Snic Technologies
Industrials · France
2025
Weepackup
Industrials · France
2024

Realized

1 exit
CompanyEntryExitTypeBuyerMOIC
ERE
Energy · France
20222025SecondaryLBO France–
Capelia Fund V
Buyout2021€55M23 assets3 exits

Unrealized

23 held
CompanyEntry
10 Doigts
Consumer · France
2020
4B Distrib
Consumer · France
2019
AIGA
IT Services · France
2019
Brevet Carrosserie
Industrials · France
2020
CIA
Industrials · France
2019
DPIA
Industrials · France
2019
DPIA Colaert
Industrials · Valence, Auvergne-Rhône-Alpes, France
2022
EDA
Industrials · France
2018
EGL / CARTOSPÉ
Industrials · France
2023
Elora
Consumer · France
2020
Groupe ALMA
Industrials · France
2019
Groupe SBTX
Industrials · France
2020
Lantana
Consumer · France
2020
LE Comptoir DE Mathilde
Consumer · France
2016
LES Bougies DE Charroux
Consumer · France
2021
MIDITRAÇAGE
Industrials · France
2019
Mieko
Consumer · France
2020
Mobilis
Consumer · France
2018
Morue France Cuisine
Consumer · France
2020
Safar
Industrials · France
2020
SPI Group
Consumer · France
2020
STG
Logistics · France
2019
Sveltus
Consumer · France
2020

Realized

3 exits
CompanyEntryExitTypeBuyerMOIC
123elec
E-commerce · France
20202026SecondarySiparex Midcap + co-investors–
Everest
Construction · France
20172026Trade SaleBatibig–
YMAG
SaaS · France
20182024Trade SaleSepteo–
Capelia Fund IRealized
Buyout2008€10M1 assets

Unrealized

1 held
CompanyEntry
EPSA
Business Services · France
2010

About Capelia

Capelia is a private equity firm with capital deployed across 5 active fund vehicles and a founding year of 2026, headquartered in Paris. The platform targets majority and significant minority stakes in European mid-cap businesses across consumer, healthcare, business services and industrials, deploying institutional capital from successive flagship vehicles.

Investment thesis

The platform deploys buyout and growth equity capital across consumer, healthcare, business services and industrials businesses in France and selectively across Europe, targeting majority and significant minority equity positions in mid-cap and lower mid-cap European companies. Value-creation framework emphasises operational improvement, working capital optimisation and selective M&A activity, with the partnership culture supporting management teams across multi-year ownership periods.

Recent activity

Realised exits across the current platform vintages remain limited, with the portfolio in active deployment and value-creation phase. The platform tracks 5 fund vehicles, 41 active portfolio companies and 0 realised exits across the strategy's history.

Frequently asked questions

What investment strategy does Capelia focus on?
Capelia focuses on Buyout, Growth strategies in the private equity space.
How many portfolio companies does Capelia have?
Capelia has 38 active portfolio companies and 4 completed exits and 3 funds tracked on GP Intel.
Where is Capelia headquartered?
Capelia is headquartered in Lyon, France.
What is Capelia's assets under management?
Capelia manages approximately €155M in assets under management.
When was Capelia founded?
Capelia was founded in 2008.
What sectors does Capelia invest in?
Capelia invests across Industrials, Consumer, Software, Healthcare, Business Services, TMT, Energy.
What are Capelia's recent exits?
Recent realized exits by Capelia include: 123ELEC (2026) to Siparex Midcap + co-investors; EVEREST (2026) to Batibig; ERE (2025) to LBO France; YMAG (2024) to Septeo.
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Last updated October 2026 · Sourced from public filings · Report an issue