Tertium Invest
Marseille-based regional PACA mid-cap PE founded 2012; deploys around EUR 133M across Tertium Croissance I (2012 EUR 22.6M Realized) + Tertium Croissance (2019 EUR 50M Harvesting) + Tertium Fund 2 (2019 EUR 60M Investing) targeting French regional SMEs in industrials, consumer, energy and TMT. Notable exits Maten-Secomoc 2022 Groupe M, Ideol 2018 BW Offshore, Waga Energy September 2025 multi-seller syndicate to EQT EUR 534M.
Tertium Invest is a Marseille growth equity firm with €133M AUM, 10 active companies and 7 exits.
- ·4 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 7 realized deals: 5 years.
- ·Top sector focus: Consumer (29% of portfolio).
- ·Fund cadence: ~4Y between vintages · last raise 2019.
Sector breakdown
17 companiesGeography breakdown
2 geographiesKey facts
Recent exits
Tertium Invest sold Waga Energy to EQT in 2025 after 6 years.
Tertium Invest sold Synergie Cad to Ardian Semiconductor in 2025 after 5 years.
Tertium Invest sold Maten-Secomoc to Groupe M in 2023 after 9 years.
Tertium Invest sold Ideol to BW Offshore in 2021 after 5 years.
Coverage notes
3 funds tracked, 17 portfolio companies (10 active · 7 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Tertium Invest has raised, with its portfolio companies. Hand-checked from public filings.
Tertium CroissanceHarvestingGrowth2019€50M3 assets3 exitsGrowth2019 · 7yr€50M33
Unrealized
3 held| Company | Entry |
|---|---|
| Eeworx TMT · France | 2016 |
| General Industries Industrials · France | 2022 |
| NovRH Healthcare · France | 2019 |
Realized
3 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Amperis ClimateTech · France | 2014 | 2016 | Trade Sale | – | – |
| Ideol ClimateTech · France | 2016 | 2021 | Trade Sale | BW Offshore | – |
| Waga Energy ClimateTech · France | 2019 | 2025 | Secondary | EQT | – |
Tertium Fund 2Growth2019€60M5 assets2 exitsGrowth2019 · 7yr€60M52
Unrealized
5 held| Company | Entry |
|---|---|
| Jocatop Education · France | 2022 |
| Kokoon Consumer · UK | 2023 |
| La Cave à Truffes Consumer · France | 2022 |
| Maisons du Midi Consumer · France | 2014 |
| WebRivage TMT · France | 2021 |
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Bio&Co Consumer · France | 2013 | 2018 | Trade Sale | InVivo | – |
| Synergie Cad Industrials · France | 2020 | 2025 | Secondary | Ardian Semiconductor | – |
Tertium Croissance IRealizedGrowth2012€23M2 assets2 exitsGrowth2012 · 14yr€23M22
Unrealized
2 held| Company | Entry |
|---|---|
| Alliance Marine Consumer · France | 2022 |
| Reactis Software · France | 2015 |
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Maten-Secomoc Aerospace & Defence · France | 2014 | 2023 | Trade Sale | Groupe M | – |
| Traxens TMT · France | 2015 | 2020 | Trade Sale | A.P. Moller - Maersk / CMA CGM / MSC Mediterranean Shipping Company | – |
About Tertium Invest
Tertium Invest is a French private equity firm with €133 million of assets under management as of December 2024, headquartered in Paris. Founded in 2012, the firm focuses on buyout and growth equity investments in European mid-cap businesses across industrials, consumer, business services, energy and software, deploying capital from successive flagship funds with institutional limited partner support.
Investment thesis
Tertium Invest deploys buyout capital into European mid-cap and small-cap businesses across industrials, consumer, business services, energy and software, targeting majority equity positions in profitable companies with clear value-creation runways. Investment focus emphasises operational improvement, selective bolt-on M&A acceleration and selective international expansion across France and selectively across Europe, with capital deployed from successive flagship funds backed by institutional limited partners.
Recent activity
Recent realised exits include Waga Energy (energy, 2025), Traxens (TMT, 2023), Alliance Marine (industrials, 2022) and Maten-Secomoc (industrials, 2022). The platform tracks 3 fund vehicles, 12 active portfolio companies and 5 realised exits across the strategy's history.
Frequently asked questions
- What investment strategy does Tertium Invest focus on?
- Tertium Invest focuses on Growth, Buyout strategies in the private equity space.
- How many portfolio companies does Tertium Invest have?
- Tertium Invest has 10 active portfolio companies and 7 completed exits and 3 funds tracked on GP Intel.
- Where is Tertium Invest headquartered?
- Tertium Invest is headquartered in Marseille, France.
- What is Tertium Invest's assets under management?
- Tertium Invest manages approximately €133M in assets under management.
- When was Tertium Invest founded?
- Tertium Invest was founded in 2012.
- What sectors does Tertium Invest invest in?
- Tertium Invest invests across Industrials, Consumer, Business Services, Energy, Software.
- What are Tertium Invest's recent exits?
- Recent realized exits by Tertium Invest include: Waga Energy (2025) to EQT; Synergie Cad (2025) to Ardian Semiconductor; Maten-Secomoc (2023) to Groupe M; Ideol (2021) to BW Offshore; Traxens (2020) to A.P. Moller - Maersk / CMA CGM / MSC Mediterranean Shipping Company; Bio&Co (2018) to InVivo.
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