LBO France
LBO France is a Paris private equity firm with €2.5B AUM, 62 active companies and 44 exits.
- ·27 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 44 realized deals: 5 years.
- ·Fund cadence: ~2Y between vintages · last raise 2023.
Sector breakdown
96 companiesGeography breakdown
9 geographiesKey facts
Recent exits
LBO France sold Dominique Dutscher to Vivo Capital in 2026 after 6 years.
LBO France sold Dutscher to Vivo Capital in 2026 after 6 years.
LBO France sold Eurotab to McBride plc in 2026 after 7 years.
LBO France sold HMY to ITAB Shop Concept in 2025 after 8 years.
Coverage notes
5 funds tracked, 106 portfolio companies (62 active · 44 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund LBO France has raised, with its portfolio companies. Hand-checked from public filings.
Joliba Capital FundGrowth2023€33M12 assets2 exitsGrowth2023 · 3yr€33M122
Unrealized
12 held| Company | Entry |
|---|---|
| Beacon Power Services Industrials · Other | 2021 |
| Bizao Telecom · Other | 2022 |
| Codomus Real Estate · France | 2020 |
| Grand Angle Real Estate · Saint-Denis, France | 2019 |
| highland Real Estate · Courbevoie, France | 2016 |
| Honotel Real Estate · France | 2021 |
| IUC Business Services · Other | 2024 |
| Network 1 Real Estate · Bagneux, France | 2018 |
| network-2 Real Estate · France | 2020 |
| Poa! Telecom · Other | 2020 |
| Shamba Pride Business Services · Other | 2021 |
| Xeno Fintech · Other | 2024 |
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Actaris Metering Systems Industrials · France | 2001 | 2003 | Secondary | Montagu Private Equity | – |
| Actaris Metering Systems Industrials · France | 2005 | 2007 | Trade Sale | Itron | – |
LBO France Small CapBuyout2020€200M11 assets13 exitsBuyout2020 · 6yr€200M1113
Unrealized
11 held| Company | Entry |
|---|---|
| Alliance Marine Consumer · France | 2021 |
| Baobag Industrials · France | 2022 |
| Ecritel TMT · France | 2024 |
| ERE Industrials · France | 2024 |
| Hemodia MedTech · France | 2025 |
| ID Market Consumer · France | 2022 |
| Leasecorp Financials · France | 2024 |
| Mazarine Business Services · France | 2023 |
| Origine Consumer · France | 2021 |
| Rouquette Consumer · France | 2024 |
| Size Factory Hospitality · France | 2022 |
Realized
13 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| CMR Industrials · France | 2018 | 2023 | Trade Sale | Amphenol | – |
| Crouzet Aerospace & Defence · France | 2018 | 2022 | Secondary | Tikehau Ace Capital / Bpifrance / Société Générale Capital Partenaires | – |
| Dominique Dutscher Healthcare · France | 2020 | 2026 | Secondary | Vivo Capital | – |
| Dutscher Healthcare · France | 2020 | 2026 | Trade Sale | Vivo Capital | – |
| FH Orthopedics MedTech · France | 2015 | 2020 | Trade Sale | Olympus Corporation | – |
| HMY Industrials · France | 2017 | 2025 | Trade Sale | ITAB Shop Concept | – |
| Infodis TMT · France | 2019 | 2023 | Trade Sale | Groupe HLD | – |
| Passman Telecom · France | 2019 | 2023 | Secondary | Siparex ETI | – |
| Payot Consumer · France | 2019 | 2025 | Trade Sale | Ushopal | – |
| Prenax Business Services · France | 2019 | 2025 | Secondary | Triton Partners | – |
| RG Safety Industrials · France | 2017 | 2021 | Secondary | Ardian and Latour Capital | – |
| Serapid Logistics · France | 2020 | 2025 | Secondary | Capital Croissance | – |
| Spine innovations MedTech · France | 2017 | 2022 | Trade Sale | Spineway SA | – |
LBO France ItalyBuyout2018€100M4 assets4 exitsBuyout2018 · 8yr€100M44
Unrealized
4 held| Company | Entry |
|---|---|
| Amahorse Consumer · Italy | 2025 |
| Astidental Bquadro Healthcare · Italy | 2022 |
| Demas Healthcare · Italy | 2020 |
| Xolutions Industrials · Italy | 2018 |
Realized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Fine Sounds Group Consumer · Italy | 2014 | 2022 | Secondary | Highlander Partners | – |
| Lanterna Biotech · Italy | 2012 | 2015 | Trade Sale | Vandemoortele | – |
| VetroElite Industrials · Italy | 2017 | 2021 | Trade Sale | TricorBraun | – |
| Zato Industrials · Italy | 2019 | 2025 | Secondary | Abenex | – |
LBO France VentureVC2016€225M20 assets12 exitsVC2016 · 10yr€225M2012
Unrealized
20 held| Company | Entry |
|---|---|
| 12.5 TMT · France | 2025 |
| Antidote HealthTech · UK | 2025 |
| BIOSerenity MedTech · France | 2017 |
| Colpad Healthcare · France | 2024 |
| Diabeloop MedTech · France | 2022 |
| Hemea PropTech · France | 2022 |
| Incepto Medical HealthTech · France | 2022 |
| Induction Healthcare HealthTech · UK | 2015 |
| Kayentis HealthTech · France | 2016 |
| Mediaire HealthTech · Germany | 2025 |
| Meditect HealthTech · France | 2020 |
| QuantifiCare MedTech · France | 2019 |
| Siteflow SaaS · France | 2025 |
| SiVIEW HealthTech · France | 2022 |
| Smile2Impress Healthcare · Spain | 2022 |
| Teamoty SaaS · France | 2022 |
| Tribun Health HealthTech · France | 2019 |
| Vestalis Consumer · France | 2023 |
| Vetroelite S.p.A. Industrials · Italy | 2017 |
| Wandercraft MedTech · France | 2015 |
Realized
12 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Biomodex MedTech · France | 2016 | 2023 | Trade Sale | Mentice | – |
| Crocus Technology TMT · France | 2018 | 2023 | Trade Sale | Allegro MicroSystems | – |
| EI-Technologies Business Services · France | 2016 | 2020 | Trade Sale | Cognizant | – |
| FeetMe MedTech · France | 2017 | 2019 | – | – | – |
| FittingBox TMT · France | 2016 | 2021 | Trade Sale | Jins | – |
| H4D HealthTech · France | 2017 | 2024 | Trade Sale | MaQuestionMédicale | – |
| Hosman PropTech · France | 2020 | 2025 | Secondary | UL Invest | – |
| OpenHealth Company HealthTech · France | 2017 | 2022 | Trade Sale | Agir a dom | – |
| Paragon ID Deep Tech · France | 2017 | 2023 | MBO | Grenadier Holdings Ltd. | – |
| Stilla Technologies Biotech · France | 2018 | 2025 | Trade Sale | Bio-Rad | – |
| Voluntis HealthTech · France | 2014 | 2021 | Trade Sale | Aptar | – |
| Zeplug Mobility · France | 2020 | 2022 | Secondary | ICG Infra | – |
LBO France Mid CapBuyout2015€1.0B5 assets13 exitsBuyout2015 · 11yr€1.0B513
Unrealized
5 held| Company | Entry |
|---|---|
| Alantys TMT · France | 2019 |
| Bexley Consumer · France | 2017 |
| Heroiks Business Services · France | 2018 |
| Moustache Bikes Consumer · France | 2019 |
| Piex Pharma · France | 2017 |
Realized
13 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Alvest Aerospace & Defence · France | 2013 | 2015 | Secondary | Sagard | – |
| Averys Consumer · France | 2008 | 2015 | Secondary | Equistone Partners Europe | – |
| Bluclad Industrials · France | 2018 | 2025 | Trade Sale | YKK | – |
| Chryso Construction · France | 2014 | 2017 | Trade Sale | Cinven | – |
| DCI IT Services · France | 2011 | 2016 | Secondary | Naxicap Partners | – |
| Diam International Industrials · France | 2012 | 2016 | Secondary | Ardian | – |
| Eminence Consumer · France | 2011 | 2018 | Trade Sale | Delta Galil Industries | – |
| Eurotab Industrials · France | 2019 | 2026 | Trade Sale | McBride plc | – |
| Flash Europe Logistics · France | 2010 | 2015 | Secondary | Eurazeo PME | – |
| IKKS Consumer · France | 2013 | 2019 | – | – | – |
| Materne Consumer · France | 2010 | 2016 | Trade Sale | Groupe Bel | – |
| Promovacances Hospitality · France | 2011 | 2018 | Secondary | Equistone Partners Europe | – |
| The Kooples Consumer · France | 2011 | 2019 | Trade Sale | Maus Frères International | – |
Other portfolio companies
10 more LBO France investments not tied to a tracked fund.
- Cegelec · Business Services · France · 2006
- Consolis · Construction · France · 2007
- Exxelia (incl. Eurofarad) · Aerospace & Defence · France · 2010
- Geoxia · Construction · France · 2011
- Karavel · Hospitality · France · 2011
- Loxam · Construction · France · 2005
- Materis · Construction · France · 2006
- Medi-Partenaires · Healthcare · France · 2007
- RG Safety (Groupe RG) · Industrials · France · 2013
- Tractel · Industrials · France · 2007
About LBO France
LBO France is a French mid-market private equity firm with €2.5 billion of assets under management as of December 2024, headquartered in Paris. The firm has built a multi-decade track record across successive flagship buyout fund vintages, focusing on French and selectively European mid-cap LBO transactions with emphasis on operational value creation and management team partnership.
Investment thesis
LBO France targets French and selectively European mid-cap LBO transactions with equity ticket sizes typically ranging from €30 million to €150 million per transaction, focusing on profitable companies with €50 million to €500 million in enterprise value. Sector focus spans TMT, Business Services, Industrials, Consumer, Healthcare and Financials, with operational improvement initiatives and selective bolt-on M&A strategies driving value creation across the holding period.
Recent activity
Recent realised exits include Dutscher (healthcare, 2026), HMY (industrials, 2025), Hosman (TMT, 2025), Payot (consumer, 2025) and Prenax (business services, 2025), reflecting strong 2025-2026 distribution momentum across the platform. LBO France tracks 6 funds, 49 active portfolio companies and 39 realised exits across the multi-decade track record.
Frequently asked questions
- How many portfolio companies does LBO France have?
- LBO France has 62 active portfolio companies and 44 completed exits and 5 funds tracked on GP Intel.
- Where is LBO France headquartered?
- LBO France is headquartered in Paris, France.
- What is LBO France's assets under management?
- LBO France manages approximately €2.5B in assets under management.
- What are LBO France's recent exits?
- Recent realized exits by LBO France include: Dominique Dutscher (2026) to Vivo Capital; Dutscher (2026) to Vivo Capital; Eurotab (2026) to McBride plc; HMY (2025) to ITAB Shop Concept; Payot (2025) to Ushopal; Prenax (2025) to Triton Partners; Serapid (2025) to Capital Croissance; Zato (2025) to Abenex.
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