Siparex
AUM
€4.3B
Funds
7
vintages 2018–2025
Portfolio
164
Exits
57
Siparex is a Lyon private equity firm with €4.3B AUM, 164 active companies and 57 exits.
Key takeaways
- ·47 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 49 realized deals: 4 years.
- ·Fund cadence: ~1Y between vintages · last raise 2025.
Sector breakdown
218 companiesIndustrials
43 · 20%
Consumer
39 · 18%
Business Services
30 · 14%
Construction
25 · 11%
TMT
16 · 7%
Logistics
9 · 4%
Healthcare
8 · 4%
Hospitality
8 · 4%
Geography breakdown
4 geographiesFrance
213 · 98%
Italy
3 · 1%
Denmark
1 · 0%
Japan
1 · 0%
Key facts
HQLyon, France
Websitesiparex.com
Recent exits
Siparex sold Maltem to Astek Technologies in 2026 after 4 years.
Siparex sold SDAG Adhésifs to InnovaFonds + Bpifrance in 2026 after 4 years.
Siparex sold Siléane to Motion Equity Partners in 2025 after 2 years.
Coverage notes
7 funds tracked, 221 portfolio companies (164 active · 57 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Siparex has raised, with its portfolio companies. Hand-checked from public filings.
7 funds
Fund
Strategy
Vintage
Size
Assets
Exits
Fonds France Nucléaire 2Buyout2025€250M10 assets2 exitsBuyout2025 · 1yr€250M102
Unrealized
10 held| Company | Entry |
|---|---|
| Efectis Construction · France | 2024 |
| F2A Construction · France | 2022 |
| Groupe ADF Construction · France | 2024 |
| Groupe PG (Gault Industries) Industrials · France | 2023 |
| JST Transformateurs Industrials · France | 2024 |
| Masci Industrials · France | 2022 |
| Serapid Logistics · France | 2025 |
| Siteflow SaaS · France | 2021 |
| Sites Business Services · France | 2022 |
| Vulcain Ingénierie Business Services · France | 2023 |
Siparex Entrepreneurs 6Growth2025€100M45 assets15 exitsGrowth2025 · 1yr€100M4515
Unrealized
45 held| Company | Entry |
|---|---|
| Aéroprotec Aerospace & Defence · France | 2025 |
| Airria TMT · France | 2025 |
| Alinto TMT · France | 2025 |
| Altéréo Business Services · France | 2025 |
| Antares Diffusion Consumer · France | 2025 |
| Atecna Business Services · France | 2025 |
| Auxilium TMT · France | 2025 |
| Bebeboutik Consumer · France | 2025 |
| Bordas Industrial Group Construction · France | 2023 |
| Brifer Industrials · France | 2025 |
| Ceetadel Business Services · France | 2023 |
| Clic’issimo TMT · France | 2025 |
| Cofarco Financials · France | 2025 |
| Cogerim Real Estate · France | 2025 |
| Ecoris Business Services · France | 2025 |
| Fargeot Podowell MedTech · France | 2025 |
| Gamasonic MedTech · France | 2025 |
| Groupe Phea Industrials · France | 2025 |
| Handi-Pharm Groupe Healthcare · France | 2025 |
| Impack Industrials · France | 2025 |
| Kercia TMT · France | 2024 |
| Kokoon Animal Shop Consumer · France | 2023 |
| Labellemontagne Hospitality · France | 2025 |
| Labojal Consumer · France | 2025 |
| Laboratoire Polidis Pharma · France | 2025 |
| Laser Game Evolution Hospitality · France | 2025 |
| Le Guellec Industrials · France | 2023 |
| Legos Telecom · Denmark | 2025 |
| Martel Groupe Construction · France | 2021 |
| Mediactive TMT · France | 2025 |
| Noous Business Services · France | 2025 |
| Optim Real Estate · France | 2025 |
| Orion Santé Healthcare · France | 2023 |
| Provendi Laboratoire Consumer · France | 2021 |
| Quanteo Business Services · France | 2023 |
| Rumeur Publique Business Services · France | 2024 |
| Sagis Financials · France | 2025 |
| Selagip Business Services · France | 2025 |
| Solembra Consumer · France | 2022 |
| Speechi EdTech · France | 2021 |
| Structa Consumer · France | 2025 |
| TAP Logistics · France | 2025 |
| Tecmaplast Mobility · France | 2025 |
| TEP Etanchéité Construction · France | 2025 |
| Tersedia IT Services · France | 2025 |
Realized
15 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| ABC Distribution Consumer · France | – | – | Secondary | James Christian Bany and management, with Rives Croissance and Bpifrance | – |
| Alcadia Business Services · France | 2020 | 2023 | MBO | Management and Bpifrance Capital II | – |
| Alcatraz IT Telecom · France | 2020 | 2023 | Trade Sale | Koesio | – |
| Alive Groupe Business Services · France | 2020 | 2023 | MBO | Management, Idia Capital Investissement, Bpifrance and IRD Invest | – |
| Atlantic Ingénierie Business Services · France | – | – | – | – | – |
| Coquelle Logistics · France | 2018 | 2021 | – | – | – |
| EnergyGo ClimateTech · France | 2020 | 2023 | Trade Sale | HomeServe | – |
| Horison Holding Consumer · France | – | – | – | – | – |
| Maten Secomoc Aerospace & Defence · France | 2014 | 2023 | Trade Sale | Groupe M | – |
| Medical Group MedTech · France | 2021 | 2024 | MBO | Management | – |
| Metaline IT Services · France | 2019 | 2022 | Secondary | LFPI | – |
| Mome Sweet Mome Business Services · France | – | – | – | – | – |
| Serchim Industrials · France | – | – | – | – | – |
| Sieve France Consumer · France | – | – | – | – | – |
| TBS Group SaaS · France | 2018 | 2022 | MBO | Andera Partners (management sponsorless MBO) | – |
Siparex Intermezzo 3Debt2025€150M22 assets3 exitsDebt2025 · 1yr€150M223
Unrealized
22 held| Company | Entry |
|---|---|
| Alliage Care Healthcare · France | 2022 |
| Asia Voyages Hospitality · Japan | 2026 |
| ATK Sports Consumer · Italy | 2026 |
| BCM Construction · France | 2025 |
| Camerus Business Services · France | 2025 |
| Captain Tortue Consumer · France | 2025 |
| Distriwatt/Negowatt Industrials · France | 2023 |
| Ecritel TMT · France | 2025 |
| Ekstend Business Services · France | 2025 |
| Espaces Atypiques Real Estate · France | 2021 |
| European Homes Real Estate · France | 2025 |
| Fédération Studios Consumer · France | 2024 |
| Goldmund Consumer · France | 2025 |
| Hatom Telecom · France | 2025 |
| HB Aesthetics Healthcare · France | 2023 |
| Heitz TMT · France | 2025 |
| Kitsuné Consumer · France | 2023 |
| Lébénoïd Construction · France | 2021 |
| Orians TMT · France | 2025 |
| OTCex Financials · France | 2025 |
| PCS Creacard Fintech · France | 2022 |
| Vignal Lighting Group Mobility · France | 2025 |
Siparex Midcap 4Buyout2023€310M22 assets12 exitsBuyout2023 · 3yr€310M2212
Unrealized
22 held| Company | Entry |
|---|---|
| 123 Elec Construction · France | 2026 |
| AXE Group Logistics · France | 2026 |
| Bassetti TMT · France | 2022 |
| Capron Podologie Healthcare · France | 2024 |
| Cevino Glass Construction · France | 2023 |
| Comptoir Rhodanien Consumer · France | 2025 |
| Demeures Caladoises Construction · France | 2023 |
| Elba Ora Consumer · France | 2024 |
| Emalec Construction · France | 2025 |
| Estemi (Ouvêo) Consumer · France | 2021 |
| Groupe Corali Industrials · Italy | 2026 |
| Groupe ORA Business Services · France | 2025 |
| L2G Industrials · France | 2023 |
| Lacoste Consumer · France | 2023 |
| Mobsuccess AdTech · France | 2024 |
| NovaKamp Aerospace & Defence · France | 2026 |
| Packing Consumer · France | 2023 |
| Pharmactive Pharma · France | 2021 |
| SAIP Industrials · France | 2023 |
| Syscom Prorep Industrials · France | 2021 |
| Top Chrono Logistics · France | 2022 |
| Vulcain Construction · France | 2024 |
Realized
12 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Bracchi Logistics · Italy | 2020 | 2023 | Secondary | Argos Climate Action Fund | – |
| Briconord Construction · France | 2011 | 2025 | Secondary | Oddo BHF | – |
| HNH Hospitality · France | – | – | Secondary | Fondo Italiano d'Investimento and Eulero Capital | – |
| Locabri Construction · France | 2020 | 2023 | Trade Sale | GL Events | – |
| Mathevon Industrials · France | 2018 | 2025 | Trade Sale | Montyon Capital | – |
| Mediascience Business Services · France | 2017 | 2022 | Secondary | Arkea Capital, BNP Paribas Developpement and IRD Invest | – |
| Nerco Business Services · France | 2020 | 2024 | MBO | Management, Azulis Capital and ODDO BHF Asset Management | – |
| Nowak Industrials · France | 2023 | 2024 | Trade Sale | Marle | – |
| Plurima Business Services · France | 2019 | 2022 | Trade Sale | Poste Welfare Servizi | – |
| SDAG Adhésifs Consumer · France | 2022 | 2026 | Secondary | InnovaFonds + Bpifrance | – |
| Seiven Industrials · France | 2022 | 2025 | MBO | Management | – |
| Viasphère Business Services · France | 2017 | 2021 | MBO | Christian Lehr and management | – |
Siparex ETI 5Buyout2021€450M27 assets11 exitsBuyout2021 · 5yr€450M2711
Unrealized
27 held| Company | Entry |
|---|---|
| Aldès Construction · France | 2022 |
| Altema Construction · France | 2023 |
| ATK Bindings Industrials · France | 2026 |
| Babeau Seguin (Groupe) Construction · France | 2017 |
| Batibig Construction · France | 2022 |
| Biscuits Bouvard Consumer · France | 2017 |
| Clayens Group Mobility · France | 2019 |
| Dandurand Consumer · France | 2021 |
| DBM Group Industrials · France | 2021 |
| Destia Healthcare · France | 2024 |
| Eskimoz TMT · France | 2024 |
| Ginger CEBTP Construction · France | 2019 |
| Groupe Lacroix Consumer · France | 2021 |
| Jacky Perrenot Logistics · France | 2020 |
| Jet Metal Industrials · France | 2021 |
| LNA Santé Healthcare · France | 2021 |
| Maped Consumer · France | 2021 |
| Minafin Industrials · France | 2017 |
| Odontolia Healthcare · France | 2022 |
| Passman Telecom · France | 2024 |
| Piercan Industrials · France | 2023 |
| Proaction International Business Services · France | 2021 |
| Sodikart Consumer · France | 2023 |
| Solotech Business Services · France | 2021 |
| Texelis Aerospace & Defence · France | 2018 |
| Winncare MedTech · France | 2021 |
| WVT Group Industrials · France | 2025 |
Realized
11 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Apside IT Services · France | 2021 | 2025 | Trade Sale | CGI | – |
| Demeco Logistics · France | 2022 | 2025 | Secondary | Argos Wityu | – |
| Gérard Perrier Industrie Industrials · France | 2012 | 2025 | Secondary | Credit Mutuel Equity | – |
| Grand Frais (Prosol) Consumer · France | 2017 | 2025 | Secondary | Apollo | – |
| Groupe Carso Industrials · France | 2021 | 2025 | Trade Sale | Bactéries et Aliments | – |
| Groupe Orion Financials · France | 2021 | 2024 | Secondary | Ardian | – |
| NG Travel Hospitality · France | 2021 | 2023 | MBO | Management, Andera Acto and Trocadero Capital Partners | – |
| Safe Industrials · France | 2006 | 2015 | – | – | – |
| Synchrone TMT · France | 2021 | 2024 | Secondary | Naxicap Partners | – |
| Topsolid TMT · France | 2019 | 2024 | Secondary | Crédit Mutuel Equity | – |
| Valentin Traiteur Consumer · France | 2019 | 2024 | MBO | Management | – |
Siparex TerritoiresGrowth2021€110M31 assets13 exitsGrowth2021 · 5yr€110M3113
Unrealized
31 held| Company | Entry |
|---|---|
| Alpinstore Consumer · France | 2021 |
| Artisans Partenaires Industrials · France | 2021 |
| Atomelec Industrials · France | 2021 |
| Azur Confort Consumer · France | 2021 |
| Barou Equipements Industrials · France | 2021 |
| Biose Biotech · France | 2021 |
| Chovet Business Services · France | 2023 |
| Cotelac Consumer · France | 2021 |
| Dracula Industrials · France | 2021 |
| Dreyer Industrials · France | 2025 |
| e-Recycle Industrials · France | 2021 |
| Elydan Construction · France | 2022 |
| Greenmot Business Services · France | 2021 |
| Groupe AVEK Business Services · France | 2021 |
| Groupe Mas Miquel Consumer · France | 2021 |
| Groupe Off Consumer · France | 2023 |
| Jet Metal Technologies Industrials · France | 2021 |
| LDLC Arena Hospitality · France | 2021 |
| Les CoPains Hospitality · France | 2025 |
| Mihotel Hospitality · France | 2017 |
| Minssieux Construction · France | 2021 |
| Nosoli Consumer · France | 2021 |
| Pralus Consumer · France | 2025 |
| RCTs Business Services · France | 2021 |
| Réjence Consumer · France | 2021 |
| Revol Industrials · France | 2021 |
| SAF Aerogroup Business Services · France | 2025 |
| Stane HealthTech · France | 2021 |
| TDS Industrials · France | 2021 |
| Technogenia (TECHNOSUP) Industrials · France | 2021 |
| Wichard Industrials · France | 2023 |
Realized
13 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Askol Mobility · France | 2021 | 2025 | – | – | – |
| Batiroc Protect Construction · France | 2021 | 2025 | – | – | – |
| Compte-r Construction · France | 2015 | 2019 | – | – | – |
| Groupe GBI Construction · France | 2021 | 2025 | – | – | – |
| Loire Etude Mobility · France | 2021 | 2025 | – | – | – |
| Mixel Industrials · France | 2021 | 2023 | – | – | – |
| Pignat Industrials · France | 2021 | 2025 | – | – | – |
| Promotion LH Business Services · France | 2021 | 2025 | – | – | – |
| RBD Industrials · France | 2021 | 2025 | – | – | – |
| Romaire Industrials · France | 2021 | 2025 | – | – | – |
| SFGP Aerospace & Defence · France | 2012 | 2017 | MBO | Management and family shareholders of Gerard Perrier Industrie | – |
| Temahome Consumer · France | 2021 | 2024 | Trade Sale | IVP International Vision Power LDA | – |
| Vitacuire Consumer · France | 2021 | 2024 | Secondary | Altis Capital | – |
Fonds TransatlantiqueGrowth2018€75M4 assets1 exitsGrowth2018 · 8yr€75M41
Unrealized
4 held| Company | Entry |
|---|---|
| Missler Software TMT · France | 2018 |
| Pack Solutions Business Services · France | 2018 |
| Rondot Group Industrials · France | 2018 |
| TBS SaaS · France | 2018 |
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| In-rgy TMT · France | 2018 | 2022 | Trade Sale | HR Path | – |
Other portfolio companies
3 more Siparex investments not tied to a tracked fund.
- Ascaudit Groupe · Business Services · France · 2016
- Groupe Omega · Healthcare · France · 2016
- Royal Moto France · Consumer · Austria · 2002
About Siparex
Siparex is a French regional mid-cap private equity platform with €4.3 billion of assets under management as of December 2024, headquartered in Lyon with regional offices in Paris, Nantes, Strasbourg, Bordeaux and Lille. Founded in 1977, Siparex is one of the oldest French private equity platforms with a 48-year continuous track record across multiple investment cycles. The firm is partner-owned and independent, distinguishing it from bank-affiliated French peers and maintaining a strong regional French presence beyond the Paris-centric concentration of most competitors.
Investment thesis
Siparex deploys capital across complementary strategies including mid-cap LBO (majority and significant minority equity), small-cap LBO (Sigex), mezzanine financing, and selective growth equity, with equity tickets ranging from €5 million to €100 million per transaction depending on the underlying vehicle and stage focus. Sector focus spans Industrials, Consumer, TMT, Business Services, Healthcare, Financials and Real Estate, with particular depth in industrial mid-cap businesses across French regional markets. The regional office network provides proprietary deal flow and management team relationships across primary and secondary French markets.
Recent activity
Recent realised exits include Maltem (TMT, 2026), SDAG Adhésifs (consumer, 2026), Apside (TMT, 2025), ASKOL (industrials, 2025), Batiroc Protect (industrials, 2025) and Briconord (consumer, 2025), reflecting strong distribution momentum across the platform. Siparex tracks 7 funds, 156 active portfolio companies and 55 realised exits, reflecting the high deal frequency and long track record of the French regional mid-cap franchise.
Frequently asked questions
- How many portfolio companies does Siparex have?
- Siparex has 164 active portfolio companies and 57 completed exits and 7 funds tracked on GP Intel.
- Where is Siparex headquartered?
- Siparex is headquartered in Lyon, France.
- What is Siparex's assets under management?
- Siparex manages approximately €4.3B in assets under management.
- What are Siparex's recent exits?
- Recent realized exits by Siparex include: Maltem (2026) to Astek Technologies; SDAG Adhésifs (2026) to InnovaFonds + Bpifrance; Ekoscan (2025) to Eurazeo; Siléane (2025) to Motion Equity Partners; Malherbe (2025) to Unknown; Briconord (2025) to Oddo BHF; Mathevon (2025) to Montyon Capital; Seiven (2025) to Management.
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Last updated September 2026 · Sourced from public filings · Report an issue