Grand Sud-Ouest Capital
Grand Sud-Ouest Capital (GSO Capital) is the captive private equity arm of 5 Credit Agricole regional caisses serving south-west France (CA Toulouse 31 + CA d'Aquitaine + CA Nord Midi-Pyrenees + CA Pyrenees Gascogne + CA Charente-Perigord). Founded in 1988 and headquartered at 14 Rue Montesquieu in Bordeaux with an office in Toulouse, the firm operates as an evergreen own-account investor (NOT AMF-regulated) deploying approximately EUR 230M in assets via three vehicles: GSO Capital (core evergreen SA founded 1988 EUR 40M share capital + capital transmission and growth tickets), GSO Innovation (v2018 Series A/Growth for regional tech startups), and GSO Financement (v2019 EUR 30M debt fund separate from PE scope). The firm targets south-west France SMEs and mid-market companies with minority equity tickets of EUR 1M-10M across all sectors, with a long-term partnership approach and no investment-duration constraint. Notable exits include Groupe Berdoues 2025 (Lea Nature trade sale + cross-poll Multicroissance batch #28) + Apex Energies 2023 Macquarie GIG 90 percent stake + Apside 2025 CGI Trade Sale (cross-poll CA captive ecosystem Socadif/Carvest/SOFIPACA/Nord Capital batches). 17 staff led by DG Frank Stephan since 2013. SIREN 344276134 SA HQ Bordeaux.
Key facts
Recent exits
Coverage notes
2 funds tracked, 52 portfolio companies (47 active · 5 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Grand Sud-Ouest Capital has raised, with its portfolio companies. Hand-checked from public filings.
GSO InnovationGrowth2018 · 8yr€50M15 active · 1 realized
Unrealized
15 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| 1001Pneus | Consumer | France | 2017 |
| 1Kubator | Business Services | France | 2018 |
| Alogia | Healthcare | France | 2019 |
| Certis Therapeutics | Healthcare | France | 2020 |
| Discurv | Software | France | 2021 |
| Expérence Platform | Business Services | France | 2020 |
| Febus Optics | TMT | France | 2022 |
| Genoskin | Healthcare | France | 2025 |
| Ipsophène | Healthcare | France | 2019 |
| Kapptiv | Software | France | 2020 |
| Medinbox | Healthcare | France | 2019 |
| Shippingbo | Software | France | 2019 |
| Symbiose | Industrials | France | 2021 |
| Turnk | Software | France | 2021 |
| Valoregen | Industrials | France | 2022 |
Grand Sud Ouest CapitalBuyout1991 · 35yr€100M32 active · 4 realized
Unrealized
32 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| AB7 | Healthcare | France | 2010 |
| ACTEON | Healthcare | France | 2018 |
| Amarenco | Energy | France | 2020 |
| Banquiz | Consumer | France | 2018 |
| Ceva Sante Animale | Healthcare | France | 2014 |
| Chausson Matériaux | Industrials | France | 2020 |
| CLER VERTS | Industrials | France | 2017 |
| Cofigeo | Consumer | France | 2015 |
| Eldo | Energy | France | 2015 |
| Ethiquable | Consumer | France | – |
| GA Smart Building | Industrials | France | 2017 |
| Groupe Nemea | Consumer | France | 2018 |
| Groupe Parera | Industrials | France | 2017 |
| H&A | Industrials | France | 2023 |
| Halloween Agency | Consumer | France | 2018 |
| Harmony | Healthcare | France | 2018 |
| Ipsophene | Healthcare | France | 2018 |
| Irrijardin | Consumer | France | 2010 |
| JASTEC-France | Industrials | France | 2018 |
| Le Piston Francais | Industrials | France | 2019 |
| Malherbe | Industrials | France | 2018 |
| Natimpact | Consumer | France | 2020 |
| Nexteam Group | Industrials | France | – |
| Paprec Group | Industrials | France | 2022 |
| Reseau Serenis | Healthcare | France | 2019 |
| SATYS | Industrials | France | 2018 |
| Scopelec | TMT | France | 2015 |
| Sermeta | Industrials | France | 2014 |
| Sodatec | Business Services | France | 2014 |
| Thalsol | Energy | France | 2017 |
| Valorem | Energy | France | 2014 |
| Vivalto Sante | Healthcare | France | 2016 |
Realized
4 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Apex Energies | Energy | France | 2018 | 2023 | Trade Sale | – | |
| Apside | TMT | France | 2018 | 2025 | Trade Sale | – | |
| Groupe Berdoues | Consumer | France | 2015 | 2025 | Trade Sale | – | |
| LMB Fans & Motors | Industrials | France | 2022 | 2025 | Trade Sale | – |
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About Grand Sud-Ouest Capital
Grand Sud-Ouest Capital is a private equity firm with €100 million of assets under management as of December 2024 and a founding year of 1988, headquartered in Paris. The platform targets majority and significant minority stakes in European mid-cap businesses across industrials, energy, healthcare and consumer, deploying institutional capital from successive flagship vehicles.
Investment thesis
The platform deploys buyout and growth equity capital across industrials, energy, healthcare and consumer 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
Recent realised exits include Paprec Group (industrials, 2015). The platform tracks 3 fund vehicles, 36 active portfolio companies and 1 realised exit across the strategy's history. 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·€33.0BFrance·€27.0BFrance·€13.2BFrance·€11.6BFrance·€9.0BFrance·€7.0BFrance·€6.7BFrance·€6.0BFrance·€5.1B