EMZ Partners
AUM
€5.8B
Funds
5
vintages 2005–2022
Portfolio
39
Exits
97
Key facts
HQParis, France
Websiteemzpartners.com
Recent exits
Ayming
Business Services · 2025 · 3yr hold
Fotofinder Systems
Healthcare · 2025 · 3yr hold
Ingentis
Software · 2025 · 4yr hold
Fauché
Industrials · 2024 · 3yr hold
Coverage notes
5 funds tracked, 136 portfolio companies (39 active · 97 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund EMZ Partners has raised, with its portfolio companies. Hand-checked from public filings.
5 funds
EMZ 102022 · 4yr€1.4B19 active · 2 realized
Unrealized
19 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Advancy | Business Services | France | – |
| Aspire Education Group | Business Services | Germany | – |
| Axdis | Industrials | France | 2024 |
| Batibig | Business Services | France | 2022 |
| Clubfunding Group | Financials | France | 2022 |
| Fauché | Industrials | France | 2024 |
| Fovea | Healthcare | France | – |
| Group Positive | Software | France | 2022 |
| H&Z | Business Services | Germany | – |
| imes-icore | Healthcare | Germany | 2023 |
| implid | Business Services | France | 2025 |
| ionBench | Healthcare | France | 2025 |
| koenig.solutions | TMT | Germany | 2025 |
| POwR Group | – | – | 2024 |
| Safic-Alcan | Industrials | France | 2022 |
| SNIC Technologies | TMT | France | 2026 |
| Vulcain Engineering | Industrials | France | – |
| Wishcard Technologies Group | Consumer | Germany | 2022 |
| Yuri & Neil | TMT | France | – |
AdvancyActive
Business ServicesFrance
Aspire Education GroupActive
Business ServicesGermany
AxdisActive
IndustrialsFrance· Entry 2024
BatibigActive
Business ServicesFrance· Entry 2022
Clubfunding GroupActive
FinancialsFrance· Entry 2022
FauchéActive
IndustrialsFrance· Entry 2024
FoveaActive
HealthcareFrance
Group PositiveActive
SoftwareFrance· Entry 2022
H&ZActive
Business ServicesGermany
imes-icoreActive
HealthcareGermany· Entry 2023
implidActive
Business ServicesFrance· Entry 2025
ionBenchActive
HealthcareFrance· Entry 2025
koenig.solutionsActive
TMTGermany· Entry 2025
POwR GroupActive
· Entry 2024
Safic-AlcanActive
IndustrialsFrance· Entry 2022
SNIC TechnologiesActive
TMTFrance· Entry 2026
Vulcain EngineeringActive
IndustrialsFrance
ConsumerGermany· Entry 2022
Yuri & NeilActive
TMTFrance
Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Ayming | Business Services | France | 2022 | 2025 | MBO | – | |
| Fotofinder Systems | Healthcare | Germany | 2022 | 2025 | Secondary | – |
EMZ 92020 · 6yr€1.0B6 active · 7 realized
Unrealized
6 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Biogroup LCD | Healthcare | France | 2020 |
| Celebrate | Consumer | Germany | 2021 |
| Ceva Sante Animale | Healthcare | France | 2020 |
| Jacky Perrenot | Industrials | France | 2020 |
| Labelys | Industrials | France | 2020 |
| Pipersberg | Industrials | Germany | 2021 |
Biogroup LCDActive
HealthcareFrance· Entry 2020
CelebrateActive
ConsumerGermany· Entry 2021
Ceva Sante AnimaleActive
HealthcareFrance· Entry 2020
Jacky PerrenotActive
IndustrialsFrance· Entry 2020
LabelysActive
IndustrialsFrance· Entry 2020
PipersbergActive
IndustrialsGermany· Entry 2021
Realized
7 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Ankerkraut | Consumer | Germany | 2020 | 2022 | Trade Sale | – | |
| Assepro | Financials | France | 2020 | 2023 | Trade Sale | – | |
| Fauché | Industrials | France | 2021 | 2024 | MBO | – | |
| France Air | Industrials | France | 2020 | 2024 | Trade Sale | – | – |
| HR Works | Software | Germany | 2020 | 2023 | Secondary | – | |
| Ingentis | Software | Germany | 2021 | 2025 | Secondary | – | |
| Simon Hegele | Industrials | Germany | 2021 | 2024 | Trade Sale | – |
EMZ 82017 · 9yr€815M8 active · 6 realized
Unrealized
8 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Arturia | Consumer | France | 2019 |
| Azae | Business Services | France | 2017 |
| Diam | Consumer | France | 2018 |
| Forlam | Industrials | France | 2017 |
| Lumibird | Industrials | France | 2019 |
| Spie Batignolles | Industrials | France | 2019 |
| Vignal Lighting Group | Industrials | France | 2018 |
| Weyou Group | Business Services | France | 2019 |
ArturiaActive
ConsumerFrance· Entry 2019
AzaeActive
Business ServicesFrance· Entry 2017
DiamActive
ConsumerFrance· Entry 2018
ForlamActive
IndustrialsFrance· Entry 2017
LumibirdActive
IndustrialsFrance· Entry 2019
Spie BatignollesActive
IndustrialsFrance· Entry 2019
Vignal Lighting GroupActive
IndustrialsFrance· Entry 2018
Weyou GroupActive
Business ServicesFrance· Entry 2019
Realized
6 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Castellet Hospitality | Consumer | France | 2017 | 2022 | Secondary | – | |
| Crouzet | Industrials | France | 2018 | 2022 | Secondary | – | |
| Groupe Ginger | Industrials | France | 2017 | 2021 | MBO | – | |
| MCI Group | Business Services | France | 2017 | 2024 | Secondary | – | |
| Onet | Business Services | France | 2017 | 2022 | MBO | – | |
| Rail Industries | Industrials | France | 2019 | 2023 | – | – | – |
Rail IndustriesExited 2023
IndustrialsFrance· Entry 2019
EMZ 72012 · 14yr€750M1 active · 20 realized
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| My Media Group | TMT | France | 2015 |
My Media GroupActive
TMTFrance· Entry 2015
Realized
20 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Alvest | Industrials | France | 2013 | 2015 | Secondary | – | |
| Atalian | Business Services | France | 2009 | 2013 | – | – | – |
| Biogroup LCD | Healthcare | France | 2015 | 2020 | GP-led | – | |
| Carso | Healthcare | France | 2014 | 2017 | Secondary | – | |
| Chryso Group | Industrials | France | 2014 | 2017 | Secondary | – | |
| CNIM | Industrials | France | 2014 | 2017 | – | – | – |
| Coventya | Industrials | France | 2016 | 2021 | Trade Sale | – | |
| Cyrillus Vertbaudet | Consumer | France | 2013 | 2021 | – | – | – |
| Ekkia | Consumer | France | 2011 | 2018 | – | – | – |
| Eurodatacar | Business Services | France | 2014 | 2019 | – | – | – |
| Gerflor | Industrials | France | 2011 | 2015 | – | – | – |
| Groupe Bertrand | Consumer | France | 2012 | 2016 | – | – | – |
| IPH | Industrials | France | 2013 | 2017 | – | – | – |
| Linedata | Software | France | 2015 | 2018 | – | – | – |
| Orolia | TMT | France | 2012 | 2016 | – | – | – |
| Paprec | Industrials | France | 2012 | 2015 | – | – | – |
| Quick – Burger King | Consumer | France | 2015 | 2018 | Trade Sale | – | |
| Stokomani | Consumer | France | 2012 | 2022 | Trade Sale | – | |
| Trigo | Business Services | France | 2011 | 2016 | – | – | – |
| Ubiqus | Business Services | France | 2014 | 2022 | Trade Sale | – |
AtalianExited 2013
Business ServicesFrance· Entry 2009
CNIMExited 2017
IndustrialsFrance· Entry 2014
Cyrillus VertbaudetExited 2021
ConsumerFrance· Entry 2013
EkkiaExited 2018
ConsumerFrance· Entry 2011
EurodatacarExited 2019
Business ServicesFrance· Entry 2014
GerflorExited 2015
IndustrialsFrance· Entry 2011
Groupe BertrandExited 2016
ConsumerFrance· Entry 2012
IPHExited 2017
IndustrialsFrance· Entry 2013
LinedataExited 2018
SoftwareFrance· Entry 2015
OroliaExited 2016
TMTFrance· Entry 2012
PaprecExited 2015
IndustrialsFrance· Entry 2012
TrigoExited 2016
Business ServicesFrance· Entry 2011
EMZ Legacy2005 · 21yr€1.8B3 active · 62 realized
Unrealized
3 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Heka Insurance Solutions | Financials | Germany | 2022 |
| Oderis | Business Services | France | 2024 |
| vVardis | Consumer | Switzerland | 2022 |
Heka Insurance SolutionsActive
FinancialsGermany· Entry 2022
OderisActive
Business ServicesFrance· Entry 2024
vVardisActive
ConsumerSwitzerland· Entry 2022
Realized
62 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Aixam | Industrials | France | 2006 | 2013 | Trade Sale | – | |
| Alain Afflelou | Consumer | France | 2000 | 2002 | IPO | – | – |
| AltéAd | Industrials | France | 2008 | 2016 | – | – | – |
| Aubret | Consumer | France | 1999 | 2002 | – | – | – |
| Autodistribution | Consumer | France | 1999 | 2009 | Write-off | – | |
| B&B | Consumer | France | 2005 | 2010 | Secondary | – | |
| Bonna Sabla | Industrials | France | 2002 | 2005 | Secondary | – | |
| CCMX | Software | France | 1999 | 2004 | Trade Sale | – | |
| Ceva | Healthcare | France | 1999 | 2014 | Secondary | – | |
| CIM Group | Energy | France | 2000 | 2005 | – | – | – |
| CNN/CIM | Energy | France | 1999 | 2003 | – | – | – |
| Cognon Morin | Healthcare | France | 2002 | 2006 | – | – | – |
| Consolis | Industrials | France | 2005 | 2007 | – | – | – |
| Courtepaille | Consumer | France | 2000 | 2011 | – | – | – |
| Daher Lhotellier | Industrials | France | 2000 | 2003 | – | – | – |
| Elis | Business Services | France | 2002 | 2007 | – | – | – |
| Eminence | Consumer | France | 2004 | 2011 | – | – | – |
| Etimex | Industrials | Germany | 2007 | 2010 | – | – | – |
| FDI | Business Services | France | 2004 | 2014 | – | – | – |
| Fives Lille | Industrials | France | 2004 | 2006 | – | – | – |
| FPEE | Industrials | France | 2003 | 2015 | – | – | – |
| Frans Bonhomme | Industrials | France | 2005 | 2007 | – | – | – |
| Gardiner | TMT | France | 2003 | 2006 | – | – | – |
| Groupe France Agricole | TMT | France | 2005 | 2011 | – | – | – |
| Histoire d'Or | Consumer | France | 2006 | 2010 | – | – | – |
| La City | Consumer | France | 2008 | 2011 | – | – | – |
| La Croissanterie | Consumer | France | 2006 | 2017 | – | – | – |
| Laho Equipement | Industrials | France | 2000 | 2007 | – | – | – |
| Le Moniteur | TMT | France | 2005 | 2006 | – | – | – |
| Linvosges | Consumer | France | 2010 | 2016 | – | – | – |
| Loxam | Industrials | France | 2003 | 2005 | – | – | – |
| LPR | Industrials | France | 2006 | 2011 | – | – | – |
| Maisons Du Monde | Consumer | France | 2004 | 2013 | – | – | – |
| Marc Orian | Consumer | France | 2001 | 2006 | – | – | – |
| Martek Power | Industrials | France | 2008 | 2011 | – | – | – |
| Materis | Industrials | France | 2003 | 2006 | – | – | – |
| Mecatherm | Industrials | France | 2006 | 2011 | – | – | – |
| Medi-Partenaires | Healthcare | France | 2005 | 2007 | – | – | – |
| Medica | Healthcare | France | 2003 | 2006 | – | – | – |
| Medix | Healthcare | France | 2001 | 2004 | – | – | – |
| Metal Deployé | Industrials | France | 2001 | 2005 | – | – | – |
| Mont Blanc Materne | Consumer | France | 2010 | 2016 | – | – | – |
| Nocibé | Consumer | France | 2006 | 2014 | – | – | – |
| Oberthur Card Systems | TMT | France | 1999 | 2005 | – | – | – |
| Orexad/Orefi | Industrials | France | 2006 | 2013 | – | – | – |
| Parcours | Business Services | France | 2005 | 2011 | – | – | – |
| Picard | Consumer | France | 2001 | 2010 | – | – | – |
| Pisto & Pistofin | Energy | France | 2000 | 2005 | – | – | – |
| Prezioso | Industrials | France | 2000 | 2003 | – | – | – |
| Promovacances | Consumer | France | 2007 | 2018 | – | – | – |
| Rocamat | Industrials | France | 2005 | 2014 | – | – | – |
| Saeco | Consumer | Italy | 2004 | 2006 | – | – | – |
| Safe | Industrials | France | 2006 | 2015 | – | – | – |
| Safic Alcan | Industrials | France | 2015 | 2022 | Secondary | – | |
| Saime | Healthcare | France | 2004 | 2005 | – | – | – |
| Saverglass | Industrials | France | 2006 | 2011 | – | – | – |
| Selective Beauty | Consumer | France | 2006 | 2009 | – | – | – |
| Titanobel | Industrials | France | 2001 | 2012 | – | – | – |
| Trefilaction | Industrials | France | 2006 | 2018 | – | – | – |
| Un jour ailleurs | Consumer | France | 2006 | 2015 | – | – | – |
| Ventilo | Consumer | France | 2001 | 2007 | – | – | – |
| Welcome Real Time | TMT | France | 2007 | 2014 | – | – | – |
AltéAdExited 2016
IndustrialsFrance· Entry 2008
AubretExited 2002
ConsumerFrance· Entry 1999
CIM GroupExited 2005
EnergyFrance· Entry 2000
CNN/CIMExited 2003
EnergyFrance· Entry 1999
Cognon MorinExited 2006
HealthcareFrance· Entry 2002
ConsolisExited 2007
IndustrialsFrance· Entry 2005
CourtepailleExited 2011
ConsumerFrance· Entry 2000
Daher LhotellierExited 2003
IndustrialsFrance· Entry 2000
ElisExited 2007
Business ServicesFrance· Entry 2002
EminenceExited 2011
ConsumerFrance· Entry 2004
EtimexExited 2010
IndustrialsGermany· Entry 2007
FDIExited 2014
Business ServicesFrance· Entry 2004
Fives LilleExited 2006
IndustrialsFrance· Entry 2004
FPEEExited 2015
IndustrialsFrance· Entry 2003
Frans BonhommeExited 2007
IndustrialsFrance· Entry 2005
GardinerExited 2006
TMTFrance· Entry 2003
Groupe France AgricoleExited 2011
TMTFrance· Entry 2005
Histoire d'OrExited 2010
ConsumerFrance· Entry 2006
La CityExited 2011
ConsumerFrance· Entry 2008
La CroissanterieExited 2017
ConsumerFrance· Entry 2006
Laho EquipementExited 2007
IndustrialsFrance· Entry 2000
Le MoniteurExited 2006
TMTFrance· Entry 2005
LinvosgesExited 2016
ConsumerFrance· Entry 2010
LoxamExited 2005
IndustrialsFrance· Entry 2003
LPRExited 2011
IndustrialsFrance· Entry 2006
Maisons Du MondeExited 2013
ConsumerFrance· Entry 2004
Marc OrianExited 2006
ConsumerFrance· Entry 2001
Martek PowerExited 2011
IndustrialsFrance· Entry 2008
MaterisExited 2006
IndustrialsFrance· Entry 2003
MecathermExited 2011
IndustrialsFrance· Entry 2006
Medi-PartenairesExited 2007
HealthcareFrance· Entry 2005
MedicaExited 2006
HealthcareFrance· Entry 2003
MedixExited 2004
HealthcareFrance· Entry 2001
Metal DeployéExited 2005
IndustrialsFrance· Entry 2001
Mont Blanc MaterneExited 2016
ConsumerFrance· Entry 2010
NocibéExited 2014
ConsumerFrance· Entry 2006
Oberthur Card SystemsExited 2005
TMTFrance· Entry 1999
Orexad/OrefiExited 2013
IndustrialsFrance· Entry 2006
ParcoursExited 2011
Business ServicesFrance· Entry 2005
PicardExited 2010
ConsumerFrance· Entry 2001
Pisto & PistofinExited 2005
EnergyFrance· Entry 2000
PreziosoExited 2003
IndustrialsFrance· Entry 2000
PromovacancesExited 2018
ConsumerFrance· Entry 2007
RocamatExited 2014
IndustrialsFrance· Entry 2005
SaecoExited 2006
ConsumerItaly· Entry 2004
SafeExited 2015
IndustrialsFrance· Entry 2006
SaimeExited 2005
HealthcareFrance· Entry 2004
SaverglassExited 2011
IndustrialsFrance· Entry 2006
Selective BeautyExited 2009
ConsumerFrance· Entry 2006
TitanobelExited 2012
IndustrialsFrance· Entry 2001
TrefilactionExited 2018
IndustrialsFrance· Entry 2006
Un jour ailleursExited 2015
ConsumerFrance· Entry 2006
VentiloExited 2007
ConsumerFrance· Entry 2001
Welcome Real TimeExited 2014
TMTFrance· Entry 2007
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About EMZ Partners
EMZ Partners is a French sponsor-less mid-cap private equity firm with €5.8 billion of assets under management as of December 2024, headquartered in Paris with additional offices in Frankfurt and Madrid. Founded in 1999 by Thierry Raiff, the firm is partner-owned and independent, deploying capital across successive vintage funds with a distinctive sponsor-less mandate that distinguishes EMZ from typical LBO firms. The platform specialises in supporting owner-operator businesses through long-tenure minority equity positions aligned with management succession and growth capital needs.
Investment thesis
EMZ targets European mid-cap companies with €100 million to €1 billion in annual revenue, deploying significant minority equity positions alongside owner-operators rather than taking control through traditional LBO structures. The sponsor-less mandate enables management teams and founding families to retain operational control while accessing institutional capital for growth, succession or partial liquidity needs. Sector focus spans Business Services, Industrials, Consumer, Financials, Healthcare, Software and Energy, with long holding periods aligned with the patient capital nature of sponsor-less investing across multiple economic cycles.
Recent activity
Recent realised exits include Ayming (business services, 2025), Fotofinder Systems (healthcare, 2025), Fauché (industrials, 2024), France Air (industrials, 2024), MCI Group (business services, 2024) and Onet (business services, 2024), reflecting active distribution across the sponsor-less franchise. The platform tracks 6 funds, 39 active portfolio companies and 96 realised exits across a 26-year track record, with the latest vintage actively deploying capital across European mid-market opportunities. Detailed buyer names and multiple data available on Pro at €29/month.
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