Acquisitions in France

Valtus Group, a France-headquartered executive interim management firm, announced a strategic partnership under which Nordic private equity firm Polaris Private Equity will become its majority investor. The investment is intended to accelerate Valtus’s international expansion and operational scaling, with existing shareholders GENEO Capital Entrepreneur and Société Générale Capital Partenaires remaining invested alongside management.

Lemon Learning, a European digital adoption platform (DAP), acquired Aidaxis, a specialist in desktop application solutions and advanced artificial intelligence technologies. The deal expands Lemon Learning’s coverage beyond web-based applications to include desktop/legacy client-based software and strengthens its AI research and product capabilities through Aidaxis’ technology and technical team.

Ouster, Inc. closed its acquisition of StereoLabs SAS on February 4, 2026, adding StereoLabs’ ZED stereo cameras and AI vision/perception software to Ouster’s digital lidar business. The deal is intended to create a unified sensing and perception platform for “Physical AI,” combining lidar, cameras, AI compute, sensor fusion, and perception software/models. The acquisition was funded with approximately $35 million in cash and 1.8 million shares, and StereoLabs will operate as a wholly owned subsidiary.

Valtris Specialty Chemicals has completed the sale of its Champlor Renewables business in Baleycourt, France to Avril Industrie. Champlor Renewables operates rapeseed crushing, refining, and biodiesel production, and the divestiture supports Valtris’ focus on its core specialty additives business.

Search Fund Ulam Transmission, led by founder Dimitri Novikov, acquired the S.A.M.U. Soins des Arbres en Milieu Urbain group. The target specializes in maintenance, management, and enhancement of urban tree assets in the Île-de-France region and beyond, serving public authorities and private clients. The transaction followed a search fund/BIMBO structure and was supported by a pool of financial investors alongside management and reinvesting shareholders.

TITAN Group completed the acquisition of Vracs de L'Estuaire (VDE), an established cementitious business in northern France. The deal adds VDE’s clinker grinding plant at the port of Le Havre (0.6 million tons annual capacity), expanding TITAN’s French footprint and supporting its TITAN Forward 2029 strategy focused on growth and lower-carbon/alternative cementitious materials.

IKON Capital partnered with David Blitzer’s Bolt Ventures and Main Street Advisors to acquire Red Bull KTM Tech3 (Tech3), a long-tenured MotoGP racing team based in France. The new ownership group positioned the deal as a capital infusion and operational upgrade, appointing longtime motorsport executive Guenther Steiner as CEO to help professionalize commercial operations and build franchise value.

Black Knight Football Club (BKFC) acquired the remaining 60% equity interest in FC Lorient, making BKFC the 100% owner of the French Ligue 1 club. Former majority owner Loïc Féry is taking part of the consideration in BKFC shares and will remain President of FC Lorient.

Netmore Group acquired Paris-based Actility, consolidating two major players in low-power wide-area networking to scale and unify the global LoRaWAN ecosystem for massive IoT. The transaction also includes Actility’s subsidiary Abeeway and expands Netmore’s footprint to more than 14 million contracted IoT devices, deployments in 100+ countries, and partnerships with 50+ LoRaWAN network operators.

Docebo Inc. acquired all issued and outstanding shares of 365Talents, a France-based AI-powered skills intelligence and workforce analytics company, for approximately $54.6 million in cash. The deal adds an AI-driven “skills intelligence” layer to Docebo’s enterprise learning platform, with up to $5.1 million of additional earn-out consideration tied to financial milestones and expectations that 365Talents will generate about $9 million in revenue through December 31, 2026.

Houlihan Lokey signed an agreement to take a controlling interest in Audere Partners, a French mid-cap corporate finance advisory firm operating under the Natixis Partners brand, with closing expected in the first quarter of 2026 and subsequent rebranding under Houlihan Lokey. Separately, Houlihan Lokey has acquired the real estate capital advisory business of Mellum Capital (operating in Munich and London), which has already been integrated into Houlihan Lokey’s Capital Solutions Group; Mellum Real Estate GmbH was excluded and remains under original ownership.

Taconic Biosciences, Inc. acquired TransCure bioServices SAS, a France-based provider of preclinical research services using humanized immune system (HIS) mouse models. The combination creates a unified global platform spanning humanized model generation and cohort customization through in vivo translational pharmacology studies to support biotech and pharmaceutical drug discovery.

SaleCycle, an e-commerce performance technology provider backed by BGF, has acquired French on-site personalization and conversion optimization company BEYABLE. The combination is intended to create a full-funnel European martech platform for enterprise e-commerce brands, integrating capabilities such as identity resolution, intent scoring, on-site personalization, A/B testing, and remarketing across channels including email, SMS, WhatsApp and RCS.

Siemens has acquired ASTER Technologies, a privately held provider of printed circuit board assembly (PCBA) test verification and engineering software headquartered in Cesson-Sévigné, France. The acquisition integrates ASTER’s “shift-left” Design-for-Test (DFT) and test coverage analysis capabilities—anchored by its TestWay product—into Siemens’ Xpedition and Valor software portfolios within Siemens Xcelerator to improve earlier defect detection, reduce re-spins and field failures, lower costs, and accelerate time-to-market. Financial terms were not disclosed.

Siemens announced it has acquired Canopus AI, a Grenoble, France-based company focused on computational and AI-driven metrology solutions for semiconductor wafer and mask inspection. The deal expands Siemens’ EDA software portfolio and semiconductor manufacturing “digital thread” by integrating AI-enhanced metrology and inspection capabilities. The transaction closed on January 12, 2026.

THEON INTERNATIONAL acquired a 9.77% stake in Exosens from HLD Europe, pursuant to an agreement previously announced on 13 October 2025. The transaction was agreed at a price of €54 per share, and following closing HLD Europe retained a 22.35% stake in Exosens.

Atar Capital and its affiliate company Keypoint Intelligence acquired DataMaster Online (DMO), a France-based benchmark service and testing resource for the print industry. DMO will be integrated into Keypoint Intelligence’s global platform to expand Keypoint’s European footprint and enhance localized research, testing, and evaluation capabilities for imaging and printing technologies.

VB Spine LLC completed the acquisition of Stryker’s spine implant manufacturing facility in Cestas, France, bringing the site’s employees, infrastructure, and processes into VB Spine. The deal expands VB Spine’s global manufacturing footprint and supports future growth, including expanded medical education and training programs in Europe.

Phoenix Tower International (PTI) closed the acquisition of Infracos, a joint venture owned by Bouygues Telecom and SFR that manages approximately 3,700 wireless sites across France. The transaction expands PTI’s French tower portfolio to nearly 10,000 sites and increases PTI’s pro forma global footprint to more than 33,000 telecom towers across Europe, the United States, Latin America and the Caribbean.

RELEX Solutions acquired Ida, a French SaaS company focused on AI-driven fresh replenishment and store ordering optimization for loose and perishable grocery items. The deal expands RELEX’s AI-driven retail and supply chain planning platform with additional store-level capabilities for fresh and ultra-fresh categories, aiming to reduce waste and improve availability and labor efficiency for grocers.

IK Partners, through its IK Small Cap IV Fund, acquired a majority stake in Ascora Group as part of a management buyout to support founder succession. The transaction enables Ascora’s management team led by CEO Bruno Deschamps to increase its shareholding and positions the French insurance broker to pursue continued buy-and-build and organic growth.

Seven2, a Pan-European mid-market private equity firm, acquired a majority stake in ILLUIN Technology, a French software and consulting company delivering bespoke enterprise artificial intelligence solutions. Seven2 invested via its Apax Development Fund II, while CEO and co-founder Robert Vesoul retained a significant stake and the management team increased its participation to support ILLUIN’s growth and European expansion.

Blake Charles Salon, founded by Blake C. McCall, acquired Salon Le Boudoir, a luxury hair salon in Saint-Tropez, France, marking the brand’s first expansion into Europe. Christophe Gaye, who founded Salon Le Boudoir, will remain as manager during the transition, and the location is expected to be rebranded as Blake Charles Salon in January 2026.

BuDhaGirl, a Dallas, Texas-based lifestyle brand, acquired French fashion jewelry brands Kumali and ShanShan. The acquisitions create Zen Collective, a newly formed holding company intended to unite BuDhaGirl, Kumali, and ShanShan under founder and CEO Jessica Jesse and expand the group’s European presence through Paris operations.

Oakley Capital Fund VI is investing in Brevo, a Paris-founded customer engagement and marketing automation software platform, alongside General Atlantic. Existing investors Bpifrance and Bridgepoint will remain minority investors, while Brevo’s management team (including founder/CEO Armand Thiberge) and employees will become the largest combined shareholder group after the transaction. The funding will support product investment (including AI), expansion in the United States, and an accelerated M&A strategy.

RiskConcile, a Belgian provider of cloud-based regulatory reporting and fund data solutions, has acquired B4Finance, a Paris-based provider of digital investor onboarding and fund subscription software. The deal expands RiskConcile’s RegTech offering to include automated KYC/AML onboarding and subscription workflows and strengthens its presence in France. This is the second add-on acquisition in RiskConcile’s buy-and-build strategy since partnering with Main Capital Partners in June 2024.

Prodalim, a global juice and specialty ingredients solutions provider, acquired René Laurent, a beverage flavours company founded in 1885 and based in the Grasse area of southern France. The business was purchased from International Flavours & Fragrances Inc. (IFF) and will be integrated into Prodalim’s Beverage Compounds business unit to broaden its flavour-based solutions offering for food and beverage customers.

Camlin Fine Sciences Limited (CFSL) completed the acquisition of a majority stake in Vinpai on November 27, 2025 via a block acquisition from significant shareholders at EUR 3.60 per share, resulting in CFSL holding 78.68% of Vinpai’s share capital. CFSL also planned conversion of Vinpai convertible bonds into 1,100,000 new Vinpai shares, which would increase its ownership to 83.82% of share capital (80.86% of voting rights), and intends to launch a simplified cash tender offer for the remaining shares, with a potential squeeze-out if conditions are met.

Newmark Group, Inc. acquired Catella Valuation Advisory SAS, a Paris-based real estate valuation and advisory firm formerly a subsidiary of Catella France SAS. The deal expands Newmark’s Valuation & Advisory capabilities across EMEA and significantly increases its presence in France, with Catella’s full team joining and operating under the Newmark brand.

Cathay Capital completed the sale of its approximately 5% minority stake in Diot-Siaci Group, which it had held since 2021 following the Diot-LSN and Siaci Saint Honoré merger. The transaction finalizes Diot-Siaci’s new ownership structure, alongside founders/management and institutional investors including Ontario Teachers’ Pension Plan Board, Bpifrance, and Mubadala.

Waste Vision, a smart waste-management technology company backed by MML Keystone, acquired Incitat Environment to expand its presence in France and create what the companies describe as France’s largest smart waste-technology platform for municipalities. Incitat will integrate Waste Vision’s technology suite (sensors, access control, AI-driven logistics optimization and asset-management software) into its municipal waste operations offering across France.

Groupe HLD, an entrepreneurial investment group, acquired Exosens and partnered with management to drive a four-year growth program. Following HLD’s entry, Exosens tripled in size, completed nearly 10 acquisitions, and grew to 1,900 employees across 10 countries with €394 million in revenue, culminating in an IPO journey.

YOOBIC, an AI-powered retail operations platform company, announced the acquisition of Humanitics, a France-based AI retail analytics provider. The deal adds Humanitics’ predictive analytics capabilities to YOOBIC’s platform to deliver AI-driven recommendations aimed at improving store performance, employee productivity, and customer experience. In conjunction with the acquisition, YOOBIC launched its Store Manager Copilot AI assistant, with a global rollout expected in early 2026.

In September 2025, USU GmbH announced the acquisition of Mayday, a France-based provider of AI-powered knowledge management software for customer service and IT service operations. The deal strengthens USU’s knowledge management portfolio and supports its international expansion strategy, combining USU’s enterprise experience with Mayday’s modern UX/UI and rapid innovation to target further growth across Europe and into North America.

Coincheck Group N.V. completed its acquisition of Aplo SAS, a Paris-founded digital asset prime brokerage serving institutional crypto investors. All issued and outstanding shares of Aplo were exchanged for newly issued ordinary shares of Coincheck Group, and Aplo’s founders will continue with the business post-closing.

Atelier Expressions, a company recently created by TVS Venu International Holdings Pte Ltd, announced the acquisition of French Limoges porcelain manufacturer JL Coquet. JL Coquet will continue to be led by CEO Sébastien Cich, with the transaction positioned as supporting international development, craftsmanship promotion, and job preservation.

Capgemini acquired 100% of SEIMAF, an industrial engineering and technical consulting group specializing in nuclear engineering and serving the energy, environmental, and industrial sectors. Headquartered in Paris, SEIMAF will strengthen Capgemini Engineering’s specialist capabilities to support expanding nuclear programs across Europe, particularly in France and the United Kingdom.

H.I.G. Capital, through one of its affiliates, completed the acquisition of the France Workwear business from Rentokil Initial. France Workwear is a France-headquartered provider of full-cycle textile services (design, rental, laundry/repair) for workwear, flat linen, and hygiene solutions, serving over 21,000 customers across 34 sites with a nationwide logistics network. The business is expected to be rebranded and operate under a new name in early 2026.

Ecobat completed the sale of its French lead operations to Campine NV following works council consultations, execution of a share purchase agreement, and receipt of regulatory clearances. The transaction includes Ecobat facilities in Estrée-Saint-Denis, Bazoches, and Pont-Sainte-Maxence, supporting Ecobat’s strategy to focus on core growth platforms in battery recycling.

TeamSystem acquired Sellsy, a French cloud SaaS provider of all-in-one CRM and financial management (lead-to-cash) software for SMEs, to strengthen its presence in France and expand its positioning in Spain via Sellsy’s subsidiaries such as Quipu. PSG Equity will exit its investment in Sellsy through its PSG Europe I Fund, while Sellsy’s existing management team will continue to lead the business within the TeamSystem group.

Kerogo Finance acquired French accounting firms Expertise Comptable Lelouch Assuied (ECLA) and Cabinet Joël Pruvost, adding two new bolt-on acquisitions to its group. Backed by Perwyn, Kerogo Finance is pursuing a roll-up strategy to reach critical scale in the accounting market, while allowing the acquired firms to retain their identities and leverage the group’s technology and digital expertise.

LuminUltra, a Canada-headquartered applied molecular diagnostics company backed by XPV Water Partners, acquired GL Biocontrol, a Montpellier, France-based provider of microbial testing and risk management solutions for municipal and industrial water systems. GL Biocontrol will continue operating under its current name while gaining access to LuminUltra’s broader portfolio and scientific infrastructure, strengthening LuminUltra’s European water diagnostics presence and establishing France as its European headquarters.

Backed by 21 Invest France and minority co-investors, TVH Consulting announced three strategic acquisitions: Augusta Reeves, Olivia Sistemas, and BCSYS. The deals expand TVH Consulting’s European footprint and strengthen its capabilities in ERP integration and related digital transformation offerings, including SAP S/4HANA Cloud and Microsoft Business Central services.

CQL, a digital commerce agency and Shopify Platinum Partner, has acquired Riess Group, another Shopify Platinum Partner known for omnichannel and point-of-sale (POS) implementations. The combination is positioned as a leading global Shopify agency for unified commerce, expanding CQL’s capabilities across ecommerce, in-store POS, and end-to-end customer experience delivery. Riess Group founder Mike Riess will join CQL as VP of Unified Commerce and Managing Director of EMEA.

GSG GENII Software Group (GENII) acquired Inlog SAS, a Lyon-based provider of laboratory software solutions including blood transfusion and information systems (BTIS), laboratory information systems (LIS), and quality management systems (QMS). The deal strengthens GENII’s laboratories division and expands its European footprint, leveraging Inlog’s leading position in France and its cloud-based, modular platform.

ARCHIMED, a healthcare-focused private equity firm, acquired Groupe Laboratoire Rivadis (Rivadis), a French developer, manufacturer, and distributor of skincare products for infants and the elderly, including the Rivadouce and Milton brands. Rivadis also owns the Auriège cosmetics brand specialized in direct retail sales. Rivadis’ majority shareholder Christian Lainé is reinvesting a significant portion of his sale proceeds back into the company.

CGI completed its previously announced acquisition of Apside, a France-based provider of digital and engineering services. The deal strengthens CGI’s presence in France and other European markets and Morocco, and enhances its capabilities in areas including manufacturing and financial services as well as data, AI, cloud and cybersecurity.

Vellox Group, an aviation operations software platform backed by Arcadea Group, acquired France-based ADSoftware (ADS), a provider of CAMO and maintenance/airworthiness ERP software. The deal expands Vellox into the maintenance domain, adding ADS’s AIRPACK suite (to be rebranded under Vellox) and strengthening Vellox’s end-to-end offering spanning flight operations through maintenance.

Jennmar, a FalconPoint Partners portfolio company, acquired Weber Mining & Tunnelling SAS and its subsidiaries, a France-headquartered manufacturer of resins and foams used for strata stabilization and roof support in mining and tunneling applications. The deal expands Jennmar’s international footprint via Weber’s manufacturing sites in France and Poland and strengthens Jennmar’s mining and tunneling solutions with Weber’s patented resin and foam product portfolio.

TowerBrook Capital Partners announced that TowerBrook Fund VI has completed the acquisition of RYDGE Conseil, formerly the Chartered Accountancy division of KPMG France. RYDGE provides accounting, payroll, tax & legal, and advisory services to French SMEs, and TowerBrook will partner with CEO Jérôme Kieffer, the RYDGE partner group, and incoming Chairman François Enaud to support the company’s carve-out and growth strategy.

Jet Aviation acquired ASTONSKY's ground handling, hangarage, and FBO (fixed-base operator) operations at Paris-Le Bourget Airport in France. The acquired facility, opened in 2019, provides handling, fueling, hangarage, parking, and passenger/crew services and will be integrated into Jet Aviation’s global network of FBOs.

Perwyn joined SoftNext as a strategic investor to support the company’s long-term growth and expansion across Europe. Perwyn is partnering alongside SoftNext’s management team and founding shareholder Groupe Baelen to continue building SoftNext as a leading French and European software platform.

Mercialys completed the acquisition of the remaining 49% stake it did not already own in Hyperthétis Participations for a total investment of €28 million. Hyperthétis Participations holds a retail real estate portfolio totaling 66,000 sqm of gross leasable area across five sites in Angers, Brest, Niort, Narbonne and Le Puy, enabling Mercialys to obtain full real estate control over these assets.

Summit Partners announced a growth investment in Dreampath Diagnostics, a healthcare technology company focused on digitizing anatomical pathology lab workflows. The funding will support Dreampath’s plans to accelerate global growth, scale operations, and expand its commercial reach and product portfolio. Financial terms were not disclosed.

inherent Group, a B2B cloud and connectivity services provider backed by Keensight Capital, announced the acquisition of Systonic, an independent provider of secure managed cloud hosting services. The deal strengthens inherent’s regional footprint in France and expands its sovereign cloud, hosting, and managed services capabilities. Systonic will be integrated into inherent’s adista brand, with Systonic chairman Damien Delavie appointed Director of Cloud and Infrastructure at adista.

Esta Investments Pte. Ltd., an investment vehicle controlled by Temasek, crossed the 5% ownership threshold in Tikehau Capital. The change resulted from a share swap in which Esta Investments exchanged shares in Tikehau Capital Advisors (Tikehau Capital’s controlling shareholder) for shares in Tikehau Capital, bringing its stake to 5.46% as of 4 July 2025.

Assessio, backed by Pollen Street Capital, has acquired Elevo, a French HR technology scale-up focused on performance and talent development. The deal expands Assessio’s capabilities into areas such as performance reviews, 360° feedback, goal setting, and people analytics, supporting its strategy to build an end-to-end, AI-enabled talent journey across Europe.

Eftsure has acquired France-based Sis ID, an anti-fraud and payment verification solution, with plans to integrate Sis ID under the Eftsure brand. The combination is intended to expand global business payment protection and verification coverage across major markets including the United States and Europe. Financial terms were not disclosed.

Main Capital Partners has made a majority investment in PRIM'X, a French provider of encryption and data confidentiality software serving enterprise and (semi-)public administration customers, including defense and government end markets. PRIM'X’s management team, led by founder and CEO Serge Binet, will remain operationally involved and retain a significant minority stake following the receipt of required regulatory approvals.

FAYAT Group acquired full ownership of the Mecalac Group, a manufacturer of compact construction equipment for urban jobsites. Mecalac will join FAYAT’s Road Equipment Division while continuing to operate autonomously under its existing brand, with plans to support technology development and expand distribution.

inherent group, a B2B cloud and connectivity services provider, announced the acquisition of Everlink, a telecommunications services provider and solutions integrator serving SMEs in the Paris region. The deal strengthens inherent group’s position in the IT and telecom services market and expands its footprint in the Paris region. Keensight Capital supported inherent group in completing the acquisition.

Ares Sports, Media and Entertainment funds, part of Ares Management, acquired a minority stake in the France SailGP Team. Ares joins an existing consortium of investors in the team, which includes footballer Kylian Mbappé, as SailGP continues to expand its global racing championship.

N2F, a France-headquartered provider of spend management software, secured a growth equity investment from FTV Capital to accelerate product innovation (including AI capabilities) and support international expansion across Europe and beyond. As part of the transaction, existing investor PSG Equity will exit its investment in N2F.

HCSS, a provider of construction management software for heavy civil and infrastructure projects, has acquired Dispatcher-Pro (known in Europe as “Dispatcher”), a Paris-based cloud-native resource management software company. The deal expands HCSS’s scheduling and resource planning capabilities, strengthening office-field collaboration and workforce/equipment planning for contractors.

Ekinops completed the acquisition of 100% of French cybersecurity software provider Olfeo via its holding company Oscar SAS. The deal was financed fully in cash using Ekinops’ own funds and a syndicated credit line, with Olfeo’s founder/CEO Alexandre Souillé and team continuing to run and develop the cybersecurity activity within Ekinops.

Comac Medical Group, backed by EdgeCap Partners, acquired ILIFE Consulting, a Paris-headquartered early-phase specialty contract research organization (CRO). The deal expands Comac Medical Group’s pan-European footprint and strengthens capabilities in oncology, rare diseases, and complex biotech clinical trials. ILIFE founder and CEO Marina Iché will remain in her leadership role and become a significant shareholder in the group.

ESTEVE acquired HRA Pharma Rare Diseases in July 2024, adding three rare-disease treatments to its portfolio. The deal supports ESTEVE’s strategy to become a highly specialized pharmaceutical company and expands its presence across Europe and the United States.

Astorg signed a definitive agreement to acquire a majority stake in Solabia Group, a biotechnology ingredient solutions provider, from TA Associates. TA Associates will reinvest in the business, with Astorg and TA partnering with management to support Solabia’s growth plan focused on international expansion and product innovation, including targeted M&A. Financial terms were not disclosed and the transaction is subject to customary regulatory approvals.

ServicePower, a provider of field service management software, acquired Inveniam, a France-based pioneer in AI-powered computer vision for automating quality assurance in field operations. The deal closed on May 6, 2025 and will add Vision AI-driven visual data capture and analysis capabilities to ServicePower’s platform for verticals such as telecommunications, utilities, and infrastructure; financial terms were not disclosed.

Safe Life, a Stockholm-based provider of life-saving solutions, has acquired France DAE, a leading French online distributor of automated external defibrillators (AEDs) and emergency preparedness/first-aid equipment. The deal strengthens Safe Life’s presence in France and supports its broader European growth strategy; France DAE will continue operating under its existing brand while leveraging Safe Life’s resources and international distribution capabilities.

Sopra Steria has completed its acquisition of Aurexia, a management consulting firm specializing in financial services. The deal strengthens Sopra Steria Next’s financial services management consulting capabilities in France and supports Sopra Steria’s plan to expand its consulting business, with Aurexia consolidated from May 1, 2025.

Pernod Ricard completed the sale of its portfolio of strategic international wine brands and related winemaking operations to Australian Wine Holdco Limited (AWL), a consortium of institutional investors and owner of Accolade Wines, effective April 30, 2025. The combination of the acquired wine assets is intended to create Vinarchy, a new global wine company, while Pernod Ricard will continue distribution temporarily to support transition.

AlphaRose Therapeutics acquired Alpha Anomeric SA, a Paris-headquartered French company with a proprietary oligonucleotide chemistry platform known as abcDNA. The deal strengthens AlphaRose’s antisense oligonucleotide therapeutics capabilities and establishes a European presence, with Alpha Anomeric to be maintained as a subsidiary. Financial terms were not disclosed.

Marlin Equity Partners completed a majority growth investment in Didomi, a global data privacy and consent management software provider. Concurrently, Didomi acquired Lille, France-based Addingwell, an EU server-side tagging SaaS platform, to accelerate its ambition to become a leading privacy-preserving data collection and sharing platform. Didomi’s and Addingwell’s founders and financial investor Breega will retain a minority stake in the business.

Cicor Group announced that its offer to acquire significant business activities of the French Éolane Group was accepted by the Paris Commercial Court, with the business transfer expected to be concluded on 22 April 2025. The deal expands Cicor’s electronic manufacturing services footprint by adding five sites in France and two sites in Morocco, strengthening its aerospace and defence position and increasing scale through additional employees and sales.

Sagard signed a definitive agreement to acquire a strategic stake in BEX Capital, a private equity secondaries investment firm. The transaction strengthens Sagard’s Sagard Private Equity Solutions platform by adding BEX Capital’s fund-of-funds secondaries expertise, and is expected to close in the coming weeks subject to regulatory approvals.

YOOBIC, a store operations platform for frontline retail teams, announced it has acquired SimpliField, a French mobile platform for retail performance and operations. The acquisition combines the two retail-operations software providers to strengthen YOOBIC’s global leadership and expand its customer base across luxury, beauty, fashion, grocery, QSR, and consumer goods segments.

The Riverside Company’s affiliated European fund signed a definitive agreement to invest in Conformat, a French distributor of cleanroom consumables and equipment. The transaction is the fifth add-on acquisition for Riverside-backed Dastex Group, expanding Dastex’s footprint in France and supporting its buy-and-build strategy in the European cleanroom contamination control market.

TransPerfect acquired two France-based Technicolor Group studios, MPC and The Mill, with financial terms undisclosed. The studios (MPC Paris and The Mill Paris) will continue operating under their existing brands as divisions of TransPerfect Media, with current leaders Beatrice Bauwens and Fabien Godenèche remaining in place.

TA Associates has made a strategic investment in smartTrade Technologies, a provider of multi-asset electronic trading and payments platforms, with CEO David Vincent and the management team investing alongside TA. The transaction provides liquidity to existing shareholders, with Hg fully exiting its majority stake and Keensight Capital completing the sale of its remaining stake in smartTrade.

Nagarro announced the strategic business transfer of Notion Edge France, an SAP Gold Partner specializing in the SAP Customer Experience (CX) suite. The transaction expands Nagarro’s SAP CX capabilities and offering for customers in France across sectors including retail, consumer packaged goods and manufacturing, while also strengthening access to projects and customers in Africa and reinforcing Nagarro’s European market position.

Protiviti acquired French management consulting boutique Adamantia to strengthen Protiviti’s financial services consulting capabilities in France and expand service reach for clients globally. The transaction builds on a two-year collaboration between the firms and leverages Protiviti’s broader global network and resources through its parent company, Robert Half.

BSO, a global provider of advanced infrastructure and connectivity solutions, announced it has acquired InterCloud, a provider of direct connectivity to public and private cloud environments. The deal expands BSO’s portfolio in secure, optimized multi-cloud connectivity and strengthens its capabilities in cloud optimization, security management, and data governance for enterprise customers.

Integrity360 has acquired Holiseum, a Paris-headquartered cybersecurity consultancy specializing in critical and industrial infrastructure. Holiseum will form a new Integrity360 services practice focused on OT/IoT and serve as a regional hub in France, with plans to launch an additional Paris-based SOC in 2025. Financial terms were not disclosed.

Interparfums, Inc.’s subsidiary, Interparfums SA, acquired all worldwide intellectual property rights relating to the Maison Goutal (Goutal) brand from Amorepacific Europe. Amorepacific Europe will continue operating the Goutal brand for a set period under a license agreement, with Interparfums SA set to develop the brand from 2026 alongside its licensee.

Cyber Guru, a cybersecurity awareness training platform, announced the acquisition of Mantra, an innovator in automated cybersecurity awareness solutions. Cyber Guru will integrate Mantra’s real-time defense and chat-enabled training capabilities, combining both companies’ machine learning engines and data to expand their European footprint, particularly in France and Italy.

Charterhouse Capital Partners has agreed to acquire ESTYA (formerly ERIS), a French provider of electronic fire safety and security systems services, subject to customary regulatory approvals. Charterhouse is investing alongside ESTYA’s management team, who are reinvesting, and alongside existing investor Chequers Capital, which will remain a significant shareholder following its initial 2021 investment.

inherent group announced the acquisition of CONEXIO Telecom, an independent provider of high-speed connectivity and telephony solutions for SMEs and public entities. The deal strengthens inherent group’s local presence in France and expands its B2B telecommunications services capabilities. The acquisition was supported by Keensight Capital.

Zydus Lifesciences Limited entered into agreements to acquire a controlling 85.6% stake in France-based Amplitude Surgical from PAI Partners, Amplitude Surgical management and certain minority shareholders for €6.25 per share, implying consideration of €256.8 million. The block acquisition closed on July 29, 2025, and Zydus plans to file a mandatory simplified cash tender offer for the remaining shares at the same price, with the intention to pursue a squeeze-out and delisting if thresholds are met.

TSG acquired Ecosun Expert S.A.S. (France), Electricité Reiter & Grethen S.A. (Luxembourg), and Gevitec BV (Belgium) as part of its targeted M&A strategy. The acquisitions strengthen TSG’s capabilities in photovoltaic energy, electric mobility, and energy infrastructure, supporting its growth trajectory and leadership in technical services for responsible mobility solutions.

USHOPAL Group has completed the full acquisition of PAYOT, a heritage French professional skincare brand founded in Paris. USHOPAL plans to preserve PAYOT’s brand heritage while leveraging its global omni-channel and brand-building capabilities to accelerate PAYOT’s international and China expansion.

STRATACACHE acquired SNED, a France-based LED solutions specialist focused on pharmacy displays and signage with activity across France and the Benelux region. SNED will join the STRATACACHE family to expand solution delivery and integration capabilities in Europe, supporting STRATACACHE’s European pharmacy retail media business iDklic, with operations coordinated through Scala.

Waterland Private Equity has acquired a stake in WellNess Sport Club to accelerate the expansion of the premium fitness club network across France and Switzerland. The partnership aims to build WellNess into the leading high-end fitness club chain in France, with longer-term ambitions for broader European growth.

PAI Partners, together with a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), completed the acquisition of a majority stake in Alvest, a global provider of airport ground support equipment (GSE) and full-lifecycle solutions. Ardian is retaining a minority stake alongside Alvest’s founders and management team, who are reinvesting as part of the transaction. The deal is intended to support Alvest’s next phase of growth, including electrification of GSE, automation and decarbonisation solutions, and expanded service and fleet management offerings.

Pictor Biotech Inc. (d.b.a. SOLARBIOTECH) announced the acquisition and strategic unification of GPC Bio and Eleszto Genetika Kft. under single ownership. The combination aims to create a vertically integrated synthetic biology and biomanufacturing organization spanning microbial strain development through plant engineering, automation, construction, and large-scale operations, backed by owner-investor Peter Rosholm.

TransPerfect acquired H2A, a France-based provider of contact center customer experience and business process outsourcing (BPO) services. The deal expands TransPerfect’s global contact center and BPO capabilities to better support multilingual customer engagement across industries including telecommunications, retail, finance, and public services.

inherent group, a B2B cloud and connectivity services provider, acquired devensys cybersecurity to strengthen and expand its cybersecurity operations. The transaction was supported by Keensight Capital, inherent group’s private equity backer, and will see inherent’s cybersecurity division operate under the devensys cybersecurity name.

TRIGO, a global provider of quality management services for transportation industries, has acquired Controreupe, a specialized non-destructive testing (NDT) company headquartered in Saint-Geneviève-des-Bois, France. The deal expands TRIGO’s component inspection, control, testing, and 3D measurement capabilities, strengthening its offering in the aerospace and defense sectors.

Wire, a Berlin-based secure messaging and video conferencing company, has acquired Paris-based document sharing and enterprise content collaboration provider Pydio. The combination aims to create an integrated, security-first unified workspace solution—"Wire Cells"—merging Wire’s end-to-end encrypted communications with Pydio’s Cells document management and collaboration platform, with an initial rollout targeted for Q1 2025.

FN Browning Group has agreed to acquire Group Sofisport, a family-owned French manufacturer of hunting and sporting shotshells and components. The transaction positions the combined business to build a world-class European small arms and ammunition manufacturer, subject to customary antitrust and regulatory approvals.