Initiative & Finance is a private equity investment firm established in 1984, headquartered in Paris, France, with an additional office in Lyon. The firm specializes in investing in small and medium enterprises (SMEs) across various sectors, including medical, consumer goods, industrial goods, and services. Initiative & Finance targets companies valued between €5 million and €60 million, with annual revenues ranging from €5 million to €75 million, focusing primarily on firms valued between €10 million and €30 million. The firm offers flexible, tailor-made investment solutions, typically ranging from €2 million to €15 million per operation, allowing it to engage in a diverse array of deal types and capitalize on numerous investment opportunities.
Partner, SmallCap, Investment Director and Investment Committee Member
Thierry Giron
Director General
Brieuc Le Goff
Analyst, SmallCap
François Golfier
Investment Director, SmallCap
Camille Grosfilley
Investment Director, SmallCap
Jean-Michel Laveu
Partner, SmallCap
Jérôme Mathieu
Investment Director, SmallCap
Clemence Megarbane
Principal
Arnaud Mendelsohn
Partner, SmallCap and Associate Director
Jean-Bernard Meurisse
President and Partner, SmallCap
Chloé Nonat
Senior Investment Manager, MidCap
22 past transactions
Monetivia
Venture Round in 2022
Monetivia is a real estate and asset engineering firm based in Paris, France, specializing in investment solutions for rental property owners. The company focuses on assisting these individuals in accumulating wealth and preparing for retirement through strategic property investments. Monetivia aims to help renters develop assets and manage their rental payments in a manner that minimizes property tax implications. By providing tailored investment strategies, the firm supports its clients in achieving their financial goals and enhancing their long-term security.
Azergo
Venture Round in 2021
Azergo specializes in the manufacture and distribution of ergonomic office furniture designed to enhance workplace comfort and efficiency. The company offers a diverse range of products, including ergonomic chairs, height-adjustable desks, ergonomic mice, footrests, and acoustic partitions. Azergo focuses on creating workstations that accommodate various physical and human constraints, ensuring that all users, regardless of size or ability, can benefit from optimized work environments. Additionally, the company provides ergonomic advisory services to both commercial and individual clients, helping them tailor their workstations to meet specific needs and improve overall working conditions.
Akanea
Seed Round in 2020
Akanea is a publisher of business software for supply-chain and agrifood sector.
Primelis
Venture Round in 2019
Primelis SARL, founded in 2009 and based in Levallois-Perret, France, is a specialized agency focused exclusively on search engine optimization (SEO) and related search marketing services. Comprising a team of 40 experts, Primelis provides a range of offerings, including search engine optimization audits, content strategy development, link building, and reputation management. The company emphasizes the creation of innovative acquisition strategies driven by scientific analysis, aimed at enhancing brand awareness, generating leads, and boosting sales. Primelis is dedicated to delivering tailored solutions that meet the needs of its clients in the digital marketing landscape.
Nord Coffrage
Venture Round in 2019
Nord Coffrage S.A. is a company based in Saultain, France, that specializes in the rental and sale of construction site equipment. Founded in 2000, it provides a wide range of products, including shoring equipment such as props and various types of formwork, including slab and panel formwork. The company also offers safety equipment, including guard rails and climbing protection, as well as specific construction tools like metallic posts and trolleys. Additionally, Nord Coffrage supplies scaffolding equipment, including multi-directional and façade scaffolds. Through its diverse offerings, the company serves the needs of the construction industry by ensuring access to essential equipment for building projects.
Mobilis Care & Carry
Acquisition in 2018
Mobilis Care & Carry, founded in 1993 and based in Chavanod, France, specializes in the manufacture and sale of protective accessories for electronic devices, including laptops and smartphones. The company designs a variety of products such as back cases, transport bags, skin covers, tempered glass, and privacy filters. Mobilis Care & Carry focuses on providing businesses and end-users with tailor-made solutions that enhance ergonomics, portability, and protection for their mobile devices.
Inomed Technology
Acquisition in 2018
Inomed Technology SA is a Swiss company established in 2006, specializing in the design and manufacture of customized sterilization trays tailored for orthopedic, trauma, and spinal ancillary applications. The company’s product lineup includes various types of trays, such as the Star Line Plus, Spirit Line, and Phoenix Line, which are designed to support surgical instruments. Inomed Technology also provides additional services like electrolytic marking, silk-screen printing, and the production of accessories, including silicone mats and protective corners. Through its comprehensive offerings, the company enables clients to select instruments that best fit their needs while ensuring cost-effectiveness and quality in surgical environments.
Proferm
Acquisition in 2018
Proferm specializes in manufacturing high-quality polyvinyl chloride (PVC) and aluminum products for the construction sector. The company offers a diverse range of products, including doors, windows, shutters, and textural joinery, aimed at meeting the needs of the carpentry market. Proferm is dedicated to enhancing customer satisfaction by adhering to strict standards and procedures, ensuring that its offerings combine technical expertise, aesthetic appeal, and reliability. Through its commitment to quality and competitive pricing, Proferm provides essential building products that cater to various client requirements.
Bel Air Fine Art
Venture Round in 2017
Bel Air Fine Art operates a network of modern and contemporary art galleries, with its first location established in Geneva in 2004. The company has expanded to prestigious locations across Switzerland, including Crans-Montana, Verbier, and Gstaad, and has further extended its presence throughout Europe with galleries in cities such as Paris, Saint-Tropez, and Venice. In addition, Bel Air Fine Art has ventured into the Middle East and North America, with a permanent gallery in Miami and temporary spaces in Miami Beach. The organization, led by François and Grégory Chabanian, emphasizes a diverse selection of works from both internationally acclaimed and emerging contemporary artists across various artistic movements, including paintings, sculptures, and street art, among others.
XMCO
Private Equity Round in 2017
XMCO is a prominent cybersecurity firm operating in the French market, specializing in consulting services to improve computer network protection. The company provides a comprehensive range of offerings, including intrusion tests, security audits, certifications, vulnerability monitoring, and cyber-surveillance. Through its team of experts, XMCO helps clients effectively safeguard their systems and anticipate potential cyberattacks, thereby enhancing their overall security posture.
Azman Group
Private Equity Round in 2017
Azman Group has put its skills at the service of VSEs and SMEs, by offering a full range of services in video surveillance, alarm, biometric access control and cardiac defibrillator.
Valtus
Private Equity Round in 2017
Valtus is a transition management firm focused on providing high-level external managers to organizations during periods of transformation, transition, or crisis. By offering specialized support, Valtus enhances the effectiveness of client teams and improves service quality. The company utilizes a centralized information system that delivers real-time data about customers, managers, and assignments. This approach enables clients to receive customized top management solutions tailored to their specific needs, facilitating their ability to navigate changes and build a successful future.
Epsa Group
Acquisition in 2017
Epsa Group is a management and purchase consultancy.
Extruflex
Venture Round in 2017
Extruflex is a manufacturer that specializes in flexible polyvinyl chloride (PVC) products, a market it has been part of since the 1980s. The company manages the entire production chain, from formulating flexible vinyl to transforming it into various products such as films, strips, and sheets. Extruflex's offerings include flexible industrial doors, partitions, thermic insulated membranes, and materials with specialized features like anti-UV additives and fire retardancy. This comprehensive expertise allows Extruflex to effectively meet the diverse needs of architects, contractors, and other businesses, establishing a reputation for quality and reliability in the industry.
PM2S
Venture Round in 2017
PM2S is a service company that specializes in maintenance and repair for cameras, printers, and related products, primarily targeting the photo and graphic sector. The company aims to significantly reduce clients' maintenance costs by emphasizing efficient flow management and intervention monitoring. Rather than prioritizing parts exchange, PM2S focuses on repair services, which enhances the longevity of equipment. To support its operations, the company recruits highly specialized personnel and utilizes advanced information systems to manage its business activities effectively. Through this approach, PM2S delivers quality after-sales services for professional production machines, including printers, cameras, minilabs, and kiosks.
Olfeo
Venture Round in 2016
Olfeo is a developer of web content filtering software designed to enhance the security and performance of clients' internet usage. The company provides solutions that specialize in URL filtering, including options for SSL decryption, protocol filtering, quality of service (QoS) cache proxy, and antivirus flow. This comprehensive approach enables organizations to protect their IT systems from external risks and threats. Olfeo offers localized versions of its solutions tailored for various countries, including France, Switzerland, Belgium, Germany, Luxembourg, Morocco, Tunisia, Algeria, and Ivory Coast, ensuring compliance with local regulations and high-quality filtering. Additionally, an international version is available for companies with global operations. Trusted by over 2,000 clients and serving more than 3 million internet users, Olfeo aims to optimize and secure web flow for a diverse range of customers.
Distec International
Acquisition in 2016
Distec International SA, founded in 1986 and based in Nivelles, Belgium, operates as a value-added distributor serving designers and distributors in France, Belgium, the Netherlands, and Luxembourg. The company focuses on distributing innovative products that deliver tangible benefits to users. Distec International is involved in the entire supply chain process, which includes importing, storing, selling, and shipping products. Additionally, the company manages marketing and sales promotions, logistics, and after-sales service. Its product range encompasses various categories, including massage, weighing, electrical muscle stimulation, and audio products.
Moustache Bikes
Acquisition in 2015
Moustache Bikes is a manufacturer based in Thaon-les-Vosges, France, specializing in the design, development, assembly, and distribution of electric bikes, also known as Assistance Bikes Electrical connection (VAE). The company offers a diverse range of products, including urban, road, and mountain bikes, with a particular emphasis on the quality and functionality of its handlebars. In addition to its bike lineup, Moustache Bikes also manufactures and distributes spare parts and components, ensuring that customers have access to improved and durable products for their cycling needs.
Adaming Group
Private Equity Round in 2015
Adaming Group is a digital services company based in Paris, France, established in 2011. It focuses on facilitating digital transformation by offering tailored IT training services to graduates and professionals, ensuring their successful integration into the digital workforce. The Group operates both nationally and internationally, providing support to a diverse range of clients, including major accounts in sectors such as banking, finance, insurance, healthcare, telecommunications, and the public sector. In addition to training, Adaming Group specializes in consulting and digital engineering, aimed at enhancing clients' human resources and driving business growth through effective talent development and reorientation in the digital landscape.
LGI Wines
Private Equity Round in 2015
LGI Wines specializes in the production and export of French wines and beverages, catering to a global consumer base. The company focuses on developing craft wines tailored to meet diverse tastes, providing clients with customized options to satisfy their wine preferences. Through its commitment to quality and craftsmanship, LGI Wines aims to enhance the experience of wine enthusiasts around the world.
Fil Rouge
Acquisition in 2012
Fil Rouge is a privately held company specializing in ground marketing services for various sectors, including healthcare, banking, and retail. The company offers a comprehensive range of marketing solutions designed to enhance in-store experiences, such as merchandising, signage, and theatricalization. Additionally, Fil Rouge provides project management, in-store installation, data management, graphic design, digital printing, and logistics services. By focusing on creating engaging environments for brands, Fil Rouge aims to support businesses like pharmacies, tobacco shops, optics stores, and banking agencies in effectively reaching their target audiences.
SLAT
Acquisition in 2009
SLAT is a prominent player in the European DC power supply market, specializing in the design and manufacture of battery-powered power supplies. With a workforce of approximately 70 employees, the company focuses on providing solutions that ensure energy continuity for various applications where reliability is crucial. SLAT's product offerings include secure and outdoor power supplies designed to maximize energy efficiency, thereby enabling clients to maintain a consistent power supply in critical situations. The company's commitment to quality and innovation positions it as a trusted partner for businesses that require dependable energy solutions.
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