Ciclad

About Ciclad

Ciclad is a French private equity firm with €610 million of assets under management, headquartered in Paris. The firm has built a multi-decade track record across successive flagship vintage funds focused on French small and mid-cap LBO transactions, with particular depth in industrial businesses and selective energy and services verticals.

Investment thesis

Ciclad targets French small and 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, Energy, IT Services and selectively other small/mid-cap verticals, with the platform's industrial focus enabling deep operational and consolidation expertise across portfolio companies.

Recent activity

Recent realised exits include H&A (industrials, 2024), KYOTHERM (energy, 2024), TIBBLOC (industrials, 2024) and BH TECHNOLOGIES (IT services, 2023), reflecting active distribution across the industrial and energy franchises. The platform tracks 5 funds, 35 active portfolio companies and 27 realised exits across the multi-decade French small/mid-cap track record.

Frequently asked questions

How many portfolio companies does Ciclad have?

Ciclad has 43 active portfolio companies and 29 completed exits and 6 funds tracked on GP Intel.

Where is Ciclad headquartered?

Ciclad is headquartered in Paris, France.

What is Ciclad's assets under management?

Ciclad manages approximately €610M in assets under management.

What are Ciclad's recent exits?

Recent realized exits by Ciclad include: OKTEY (2025) to Hornetsecurity; KYOTHERM (2024) to InfraVia Capital Partners; SOLICE (2024) to isoplus Group; TIBBLOC (2024) to Gimv; BH TECHNOLOGIES (2023) to Yotta Smart Industry; H&A (2023) to Galia Gestion, IDIA Capital Investissement and Grand Sud-Ouest Capital; EDEIS (2023) to Trévise Participations; PAILLARD (2023) to Picardie Investissement.