Tracked deals
22
22 tracked deals across 2018-2026.
Public Company
Financial Services
Bpifrance
Paris, Île-de-France, France
Banque publique d’investissement (public investment bank) that supports companies from early-stage to growth and listing, providing financing and investment solutions (credit, guarantees and equity investments).
- Focus Areas
- Public investment bank, Sovereign / public funding and equity investment
- Website
- bpifrance.fr
Recent pace
4
4 tracked deals announced in the last 12 months.
Deal mix
Buyout
12 buyout · 6 growth capital · 2 divestiture
Bpifrance Acquisition Volume by Year
Last 9 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
Showing the 12 most recent of 22 tracked deals for Bpifrance.
-
May 1, 2026
- Buyer
- Abenex, Bpifrance
- Target
- Tethys
- Industry
- Industrial Services
- Location
- France
- Type
- Buyout
Abenex announced the acquisition of a majority stake in Tethys, a French specialist in pyromechanical systems for critical applications. The transaction makes Abenex the majority shareholder alongside the management team, with Bpifrance reinvesting as part of the deal.
-
- Buyer
- Abenex, Trocadéro Capital Partners, AfricInvest Europe, Bpifrance, Société Générale Capital Partenaires
- Target
- HTDS
- Seller
- Abenex
- Industry
- Industrial Services
- Location
- Île-de-France, France
- Type
- Recapitalization
Abenex has completed the sale of its minority stake in HTDS and is reinvesting alongside the founding family, management, and a pool of minority investors. The transaction supports HTDS’s next phase of growth built around value-added distribution and recurring maintenance of high-tech detection and analysis solutions, particularly across Africa and other high-growth regions.
-
January 30, 2026
- Buyer
- BC Partners, Bpifrance (Bpifrance Investissement)
- Target
- Biogaran
- Seller
- Servier
- Industry
- Pharmaceuticals
- Location
- France
- Type
- Buyout
BC Partners and Bpifrance have completed the acquisition of Biogaran from Servier. The deal is supported by regulatory approvals (including EU clearances and French foreign investment screening), after a favourable opinion from Biogaran’s Social and Economic Committee.
-
November 20, 2025
- Buyer
- Ardian, Groupe Burrus, Ontario Teachers' Pension Plan Board, Bpifrance, Mubadala Investment Company, Diot-Siaci Management
- Target
- Diot-Siaci Group
- Seller
- Cathay Capital
- Industry
- Insurance
- Location
- Île-de-France, France
- Type
- Divestiture
Cathay Capital has completed the sale of its approximately 5% minority stake in the Diot-Siaci Group, closing the ownership restructuring that was announced earlier in 2025. The buyer for Cathay's stake was not disclosed in the announcement; the group's shareholder base includes the Burrus Group and management as majority holders and institutional investors such as Ontario Teachers', Bpifrance and Mubadala, with Ardian named as a lead investor in the broader ownership reorganisation.
-
- Buyer
- ChapsVision, Tikehau Capital, Qualium Investissement, Bpifrance, GENEO Capital, Jolt Capital
- Target
- Sinequa
- Seller
- Sinequa shareholders, Jean Ferré (CEO of Sinequa)
- Industry
- AI & Machine Learning
- Location
- Île-de-France, France
- Type
- Buyout
ChapsVision has acquired Sinequa, a leader in AI-powered enterprise search and RAG, and simultaneously closed a US$90 million funding round led by Tikehau Capital, Qualium Investissement, Bpifrance, GENEO Capital and Jolt Capital. The deal expands ChapsVision's ArgonOS platform capabilities, accelerates international growth (especially in Europe and North America), and deepens its offering in AI, NLP and enterprise data processing.
-
March 26, 2024
- Buyer
- Juvisé Pharmaceuticals, Bpifrance, Pemberton Asset Management
- Target
- Ponvory (ponesimod) commercial rights (ex-US/Canada)
- Seller
- Actelion Pharmaceuticals Ltd. (a Johnson & Johnson company)
- Industry
- Pharmaceuticals
- Location
- Basel-Landschaft, Switzerland
- Type
- Divestiture
Juvisé Pharmaceuticals has acquired global commercial rights (excluding the United States and Canada) to Ponvory (ponesimod) from Actelion Pharmaceuticals Ltd., a Johnson & Johnson company. To fund the transaction, French sovereign fund Bpifrance and private credit manager Pemberton Asset Management took minority stakes in Juvisé; Juvisé will commercialize and assume manufacturing duties for Ponvory in Europe.
-
December 22, 2023
- Buyer
- Ardian, Tikehau Capital, EMZ, Bpifrance, Amundi Private Equity Funds, Fonds France Nucléaire (managed by Siparex)
- Target
- Vulcain Engineering
- Seller
- Equistone Partners Europe, Sagard
- Industry
- Engineering Services
- Location
- France
- Type
- Buyout
Ardian is leading a consortium including Tikehau Capital, EMZ, Bpifrance, Amundi and the Fonds France Nucléaire (managed by Siparex) in a leveraged buyout of Vulcain Engineering. The transaction effects the exit of existing shareholders Equistone Partners Europe and Sagard while co-CEOs Frédéric Grard and Alban Guilloteau and more than 350 employee-shareholders strengthen their positions. The new financing will provide resources to accelerate Vulcain's international expansion, digitisation of engineering processes and continued external growth via acquisitions.
-
- Buyer
- MML Capital, Bpifrance, IDI
- Target
- Freeland
- Seller
- IDI
- Industry
- Staffing & HR
- Location
- France
- Type
- Growth capital
MML Capital has invested in Freeland, France’s leading freelancing services platform, with participation from Bpifrance and IDI. The minority/majority investment will fund Freeland’s continued organic and inorganic growth, development of its technology platform, and expansion of service offerings across France and into Europe.
-
February 1, 2023
- Buyer
- MML Capital Partners, Bpifrance, Generis Capital Partners
- Target
- Kickmaker
- Industry
- Engineering Services
- Location
- France
- Type
- Growth capital
MML Capital Partners has invested in Kickmaker, a French specialised outsourced engineering and product development consultancy, in a transaction that also includes co-investor Bpifrance and material reinvestment from existing investor Generis Capital Partners. Kickmaker, founded in 2016 and employing roughly 250 engineers, will use the capital to support acquisitive growth and expand its international activities—particularly into the United States—while strengthening capabilities in ecodesign, robotics and industrial design.
-
January 1, 2023
- Buyer
- LV Overseas, MML Capital Partners, Bpifrance, Trail, BNP Développement
- Target
- Active Freight
- Industry
- Logistics & Distribution
- Location
- United Kingdom
- Type
- Addon
LV Overseas, backed by MML and other financing partners, has acquired UK-based Active Freight, an international freight forwarding, project logistics, warehousing, customs clearance and aircraft & ship charter business. The deal is an add-on to LV Overseas' platform to strengthen its UK footprint and combine Active Freight's general cargo and air transport expertise with the Group's existing UK subsidiaries.
-
September 12, 2022
- Buyer
- Apax (Apax Development / Apax Partners), Bpifrance
- Target
- Pandat Finance
- Seller
- ISAI
- Industry
- Financial Services
- Location
- Île-de-France, France
- Type
- Growth capital
Apax (via its Apax Development fund) and Bpifrance acquired a minority stake in Pandat Finance, the leading French broker for cash investments, while founders David Guyot and Thomas Forest retain control. The investment will support Pandat Finance's growth plans — including hiring ~60 employees, expanding product expertise and opening new offices in France and neighbouring countries.
-
- Buyer
- Sixth Street Growth, Bpifrance, Canaan, Eurazeo, Highland Europe, KKR, LionTree, SoftBank Vision Fund 2, Funds and accounts managed by BlackRock
- Target
- Contentsquare
- Industry
- Data & Analytics
- Location
- Île-de-France, France
- Type
- Growth capital
Contentsquare closed a $600 million growth financing led by Sixth Street Growth — $400 million in Series F equity and $200 million in debt — bringing total funding to $1.4 billion and valuing the company at $5.6 billion. The capital will be used to accelerate product innovation, pursue M&A and expand the company's footprint in key markets.
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