Industrial holding and turnaround vehicle led by Francois-Denis Poitrinal: Windhurst Industries (founded 2004) managed a diversified portfolio of French industrial assets (Clestra Hauserman, Dagard, Groupe Parisot, b2s) until the 2013-2014 group restructuring, after which Neopar (2014) was created as the turnaround and special-situations successor vehicle to continue with EUR 200M deployment proxy on the existing holding plus new distressed mandates.
Key facts
Recent exits
Coverage notes
1 fund tracked, 13 portfolio companies (4 active · 9 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Windhurst / Neopar has raised, with its portfolio companies. Hand-checked from public filings.
Windhurst / Neopar HoldingBuyout2004 · 22yr€200M4 active · 9 realized
Unrealized
4 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Controlab Technologies | Industrials | France | – |
| Fondamental Expo | Business Services | France | 2015 |
| La Lorraine | Industrials | France | – |
| SN ROXLOR | Industrials | France | – |
Realized
9 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| b2s | Business Services | France | 2009 | 2012 | MBO | – | |
| Clestra Hauserman | Industrials | France | 2008 | 2013 | Trade Sale | – | |
| Dagard | Industrials | France | 2011 | 2014 | Secondary | – | |
| Forget Formation | Education | France | – | – | – | – | – |
| Groupe Parisot | Consumer | France | 2013 | 2017 | MBO | – | |
| NextRoad | Business Services | France | 2017 | 2025 | Secondary | – | |
| SERI | Industrials | France | – | – | – | – | – |
| SFRH | TMT | France | 2017 | 2022 | Trade Sale | – | |
| Tifany Industries | Industrials | France | – | 2016 | Write-off | – | – |
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About Windhurst / Neopar
Windhurst / Neopar is an industrial holding and turnaround vehicle led by Francois-Denis Poitrinal with €200 million of assets under management, headquartered in Paris. Windhurst Industries (founded 2004) historically managed a diversified portfolio of French industrial assets including Clestra Hauserman, Dagard, Groupe Parisot and b2s until the 2013-2014 group restructuring, with the modern Windhurst / Neopar evergreen vehicle continuing the industrial holding strategy.
Investment thesis
Windhurst / Neopar targets French and European industrial mid-cap companies, with particular focus on turnaround and complex situations requiring active operational engagement. The evergreen holding structure enables long-duration positions unconstrained by traditional fund cycles, with the platform deploying patient capital alongside operational management initiatives. Sector focus spans Industrials, Business Services and selectively other complex situation verticals.
Recent activity
Recent realised exits include NextRoad (business services, 2025) and SFRH (TMT, 2022), reflecting selective distribution activity across the industrial holding portfolio. The platform tracks a single evergreen vehicle, 4 active portfolio companies and 3 realised exits across the multi-decade industrial turnaround programme. Detailed buyer names and multiple data available on Pro at €29/month.
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