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siparex.com A FORCE FOR GROWTH PRESENTATION OF THE GROUP’S ACTIVITIES

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Page 1: A FORCE FOR GROWTH - Siparex · the expertise of XAnge, the Siparex Group’s innovation unit, which specializes in digital innovation. 3. ACCELERATING INTERNATIONALIZATION Siparex’s

siparex.com

A FORCEFORGROWTH

PRESENTATION OF THE GROUP’S ACTIVITIES

Page 2: A FORCE FOR GROWTH - Siparex · the expertise of XAnge, the Siparex Group’s innovation unit, which specializes in digital innovation. 3. ACCELERATING INTERNATIONALIZATION Siparex’s

OUR LINE OF BUSINESS FOR 40 YEARS: INVESTING IN MIDMARKET AND INTERMEDIATE GROWTH COMPANIES Siparex is one of France’s leading independent private equity groups. As a key partner to midmarket and intermediate-sized companies, its business is to make equity investments, acting as a force for growth

SIPAREX IN FIGURES

• Unit investments of up to €40 million

• Up to €50 million including co-investments

in assets under management

€1.8 billion

of experience, with a total of 1,000 investments made since inception

40 years

2

Lydia - Mobile payments app

A PIONEER THAT IS NOW A LEADER Siparex was founded in 1977 by Dominique Nouvellet with support from industrialists: Michelin, Rhône-Poulenc (later : Aventis), Rossignol, and Cofradel–Auchan group.

Founding of Siparex

1977

Creation of Le Club Siparex

1982

Opening of the Paris office

1989

Opening of the Nantes and

Besançon offices

1995

Launch of the venture capital

business in France

1998

Launch of the first regional growth capital fund in

the Rhône-Alpes region

1999

Opening of the Lille office

2000

Siparex expands into Southern

Europe, opening offices in Milan

and Madrid

20032004

Demeco - Moving company

Page 3: A FORCE FOR GROWTH - Siparex · the expertise of XAnge, the Siparex Group’s innovation unit, which specializes in digital innovation. 3. ACCELERATING INTERNATIONALIZATION Siparex’s

3SIPAREX GROUP

Lydia - Mobile payments app

Maped - School Supplies

Creation of the Euromed Capital

Association

2005

Bertrand Rambaud succeeds Dominique Nouvellet as Group

Chairman

Opening of the Strasbourg offi ce

2009

Integration ofUFG Private

Equity

2010

Creation ofSiparex Proximité

Innovation

2012

Launch of the mezzanine fi nance

business

2014

Merger with XAnge Private

Equity

Opening of the Dijon offi ce

2015

Opening of the Toulouse offi ce

2016

Siparexcelebrates its 40th

anniversary

2017

A DOMESTIC AND INTERNA-TIONAL NETWORK CLOSELY SERVING INVESTEE COMPANIES

Regional offi ces and a stronginternational network give Siparexa competitive edge

8 regional offi ces in France

3 offi ces in Europe

1 strategic partnership in Tunisia

Integration ofUFG Private

Equity

2010

Creation ofSiparex Proximité

Innovation

2012

Launch of the mezzanine fi nance

business

2014

Merger with XAnge Private

Equity

2015

Opening of the Toulouse offi ce

2016

Siparexcelebrates its 40th

anniversary

2017

A DOMESTIC AND INTERNA-TIONAL NETWORK CLOSELY SERVING INVESTEE COMPANIES

Regional offi ces and a stronginternational network give Siparex

8 regional offi ces in France

1 strategic partnership in Tunisia

Lille

Nantes

Lyon

Dijon

Tunis

Milan

Munich

Madrid

Besançon

ParisStrasbourg

Toulouse

WORKING IN FOUR BUSINESS SEGMENTS TO SATISFYALL PRIVATE EQUITY NEEDS

Siparex works closely with entrepreneurs, helping them with their expansion or transfer of ownership plans and advising them on strategy, operations, and financing. Investees know they can rely on the suppor t of highly experienced manage-ment teams, the strength of a nationwide network, the reach of international par tners, and the assurance of dealing with a single relationship manager throughout the duration of the investment.

Siparex creates tailored solutions for star t-ups to mid-sized companies and their managers in the following areas:

Growth Capital • fi nancing for investments • increasing shareholders’ equity • acquisition fi nancing in France and abroad.

Minority or Majority Buyouts • owner buyouts (OBO) • assistance to benefi ciaries of transfers of ownership • sales of minority interests • management buyouts (MBO) • management buyins (MBI).

Venture Capital • fi nancing for unseasoned innovative companies • focus on investing in early-stage companies • in France, Germany, and elsewhere in Europe.

Page 4: A FORCE FOR GROWTH - Siparex · the expertise of XAnge, the Siparex Group’s innovation unit, which specializes in digital innovation. 3. ACCELERATING INTERNATIONALIZATION Siparex’s

CORPORATE GOVERNANCE BASED ON EXPERTISEAND TRUST

4

“One of the great strengths of the

Siparex Group is the relationship between Siparex Associés and

Sigefi Partners, which is a source of confi dence

for investors andentrepreneurs alike.”

ORGANIZATION

The Siparex Group, headed by Bertrand Rambaud, has organized its corporate governance around a totally independent management company owned by seasoned professionals and committed investors.

Sigefi Private Equity, the Group’s management company, is majority-owned by Sigefi Partners, which comprises the Group’s main managing partners, who provide expertise. Siparex Associés, whose shareholders are the main shareholders of the Group’s funds,ensures trust. The Siparex Group also has an audit committee and an ethics and policy committee, whose members are independent experts in those fi elds. These two com-mittees are unique among private equity investment companies.

Siparex Associés, headed by its chairman, Michel Rollier, and its vice-chairman, Cyril Balas, ensures adherence to the Group’s principles and values. Its shareholders includeleading family-owned corporations (such as Mérieux,Michelin, Norgefi , and Seb), French institutional investors(Apicil, Groupe BPCE, Bpifrance, Crédit Agricole-Prédica,La Française, Groupama, Groupe La Poste, Malakoff Médéric, and Neufl ize OBC), and international investors (Mouvement Desjardins).

Bertrand Rambaud,Chairman, Siparex Group

Michel Rollier,Chairman of Siparex Associés, Chairman of the Supervisory Board and former Managerof Michelin

Innovation Small Caps Midmarket Mezzanine

Sigefi Private EquityThe Group’s Management Company

Line

s of

Bu

sines

s

Siparex AssociésEnsures trust

Sigefi PartnersProvides expertise

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5SIPAREX GROUP

SIPAREX’S EXECUTIVE COMMITTEE

The executive committee has nine members:

A RESPONSIBLE INVESTOR

From the time it was founded, Siparex adopted a responsible investment approach.

Prior to any investment, our teams and their advisors analyze the company’s pertinent environmental, social/societal, and governance factors and include them in their decision-making criteria. These factors are also presented in periodic fund reports.

Siparex is a signatory to the Private Equity Investors’ Charter of AFIC (the French Private Equity Investors Association) and the United Nations Principles for Responsible Investments (PRI).

OUR CORE VALUES

• Total independence

• Rigorous ethics

• An industrial approach that coincides with the company’s fundamentals

• Close cooperation with investee companies and their managers

• A different approach to private equity, based on conservatism and return on investment

• The positioning of an active but hands-off shareholder

• Recognized professionalism

• Governance in accordance with the highest global standards

Bertrand Rambaud, Chairman of the Siparex Group

Cyril Fromager, Small Caps

Richard Dalaud, Mezzanine investment

Nicolas Rose, Innovation finance

Pierre Bordeaux- Montrieux, Midmarket investment

Benoît Métais, Midmarket investment

Florent Lauzet, Midmarket investment

Nicolas Eschermann, Investor relations and business development

Marie-Clothilde Vial, Legal affairs and human resources

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Siparex serves as an interface between investors looking for an attractive yield and entrepreneurs seeking capital to fi nance their company’s growth

ORIGIN OF ASSETS UNDERMANAGEMENT*…

A STRONG FUND RAISINGCAPABILITY (€ MILLIONS)

… FROM 14 COUNTRIES

48%Institutional investors

25%Individuals and family offi ces

20%Funds

of funds

7%Siparex Associés

2014

190

2015

223

2016

270

2017

330

*excluding retail funds

OUR AIM: TO BE A DYNAMIC LINK BETWEEN INVESTORS AND ENTREPRENEURS

6

Nicolas Eschermann,Member of the Executive Committee

Lionel Bergeron,Head of Operationsand Investor RelationsVenture Capital

INVESTOR RELATIONS AND BUSINESS DEVELOPMENT DEPARTMENT

This team, headed by Nicolas Eschermann, is the contact point for the institutional inves-tors and family offi ces that invest in our funds and is in charge of the Group’s business development in France and abroad.

It plays an active role in defi ning the product strategy of the various lines of business and in fund raisings. It treats each investor as a long-term partner, providing high-quality fi nancial and non-fi nancial information in a transparent and timely fashion.

The enduring trust shown by the hundred institutional investors, family offi ces, and indi-viduals who invest in Siparex stems from the excellent fi nancial performance Siparex has achieved using a conservative approach.

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BACK-OFFICE DEPARTMENTS

One salient feature of the Siparex orga-nization is its in-house legal, compliance, internal auditing, accounting/finance, and communications departments.

Support functions are provided on a trans-verse basis to all of the Group’s lines of business. This in-house expertise enhances Siparex’s professionalism and makes it an even more secure private equity investor.

7SIPAREX GROUP

Marie Clothilde Vial, Member of the Executive Committee Head of Legal Affairs and Human Resources

Valérie Gerbet, Managing Director Chief Financial and Administrative Officer

Thomas Géraud, Head of Compliance and Internal Auditing

Priscille Clément, Head of Communications

CROSS-BORDER SUPPORT

International expansion—a concern felt by a growing number of smaller and intermediate-sized companies—has always been central to Siparex’s approach. The Group has a powerful network with offices in Spain, Italy, and Germany, as well as operational partnerships with investment teams in Tunisia and Canada.

In order to accelerate and ensure low-risk cross-border expan-sion for its investee companies, the Siparex Group has created an international team whose 14 members serve as country advisers. This dedicated organization, Siparex Cap International, provides a comprehensive range of services both upstream (international strategy, business development) and downstream (cross-border expansion and transactions).

Siparex Cap International relies on its partnerships with Business France, which is an expert in international business development issues, and Pramex, France’s leading consultant on cross-border expansion and transactions.

LE CLUB SIPAREX

Le Club Siparex is a business network that brings together the managers of the companies that have received financing from Siparex, as well as nearly 150 financial, institutional, family office, and individual investors.

Created in 1982 and headed by a corporate CEO, Le Club Siparex promotes exchanges between its members, adding value above and beyond the financial aspect of its investments.

Each year it generates several hundred contacts in France and abroad through networking, company visits, thematic meetings, and conferences.

siparex.com/le-club-siparex

Siparex Cap International helps the Group’s investees conduct business abroad, in partnership with Business France and Pramex.

“Le Club Siparex is a central feature of the Siparex ecosystem, bringing together investee managers, investors, and Siparex’s investment teams.”

Valerie Crauser, Head of Emresa President of Le Club Siparex T

EST

IMO

NIA

L

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Siparex makes minority or majority investments in midmarket companies in order to satisfy their various financing needs: expansion financing, sales of minority interests, or transfers of ownership by investee company managers. It bases its investment decisions to a large extent on the company’s industrial plans and on the quality of its management team.

Siparex sets the standard for financing midmarket and independent, closely-held intermediate-sized companies

SIPAREX MIDMARKET€850 Million in Assets Under Management

A RANGE OF TAILORED AND FLEXIBLE SOLUTIONS

8

SALES OF MAJORITY INTERESTS

Organizing buy-ins

SALES OF MINORITY INTERESTS

Reorganizing the shareholding structure

GROWTH CAPITAL

Helping the founders welcome new investors while consolidating

their ownership interest

Biscuits Bouvard - Cookie manufacturer Ligier - Micro cars

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9SIPAREX MIDMARKET

PERSONALIZED MONITORING

Siparex, a trusted partner to its investee companies, helps them manage their strategic and operational issues in three main ways:

1. PROMOTING ACQUISITIONS The management team has proven expertise in helping investeecompany managers identify opportunities and implement theiracquisition strategy.

57 acquisitions made in 3 years by intermediate and midmarketinvestees.

30% average sales growth at companies that have made acquisi-tions (Siparex MidMarket 3 portfolio).

2. STIMULATING THE DIGITALTRANSFORMATION Siparex analyzes and anticipates the issues of evolving business models and organization caused by the digital transformation and encourages its portfolio companies to launch innovative new pro-ducts and services. It allows midmarket investees to benefi t from the expertise of XAnge, the Siparex Group’s innovation unit, which specializes in digital innovation.

3. ACCELERATING INTERNATIONALIZATION Siparex’s midmarket team assists intermediate and midmarket companies through their cross-border growth involving acquisitions,the search for local business partners, or the creation of subsidiaries.

cross-border acquisitions made over the period2013-16.

46

international sales growthof midmarket investeesover 5 years

+50 %

9

4

9

8 3

13

Number of operations conducted by continent:

“The group of investors led by Siparex presented a reliable, ambitious project to ensure our group’s continuity and growth. The operation enabledGinger to achieve total independence, which isa crucial factor in serving customers and takingthe necessary steps to grow.”

Philippe Margarit,Chairman of Ginger (Soil and materialsengineering, revenues of €160 million)

“As part of an acquisition that doubled our size, Siparex helped us present our business plans to banks for funding. Siparex regularly serves as a sounding board for our many questions.Its assistance is valuable.”

Paul Zemmour,Chairman of Sergent Major(Children’s clothing, sales of €400 million)

“Siparex stands out for its attentiveness and its approach to the issues facing closely-held compa-nies such as ours. The solution it offered, which is reassuring and stimulating for the next generation of our family, fi ts perfectly with our heightened ambitions for the years ahead.”

Daniel Lacoste,Chairman of Lacoste(Offi ce supplies, sales of €50 million)

TES

TIM

ON

IALS

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10 SIPAREX MIDMARKET

DEDICATED TEAMS AND FUNDS

Siparex’s Midmarket Growth Financing business has €850 million in assets under management—a size that enables it to serve a broad spectrum of companies. It works very closely with investee management teams on their expansion efforts or transfer of ownership plans thanks to specifi c teams and funds dedicated to companies of different sizes.

INTERNATIONAL FUNDS

For many years, Siparex Group has been fostering partnerships in North Africa, Italy, and Spain, enabling it to offer growth opportuni-ties to its French investee companies.

Siparex Investimenti 2, a €50 million fund launched in partnership with Fondo Italiano d’Investimento, supports the growth of Italian intermediate and midmarket companies.

Fonds de Co-Localisation Franco-Tunisien, a 50/50 venture between Bpifrance (France) and Caisse des Dépôts et Consi-gnations (Tunisia), is jointly managed by Siparex and AfricInvest.This €20 million fund invests in high growth intermediate-sized companies from Tunisia and France that intend to do business in both countries.

Benoît Métais,Member of the Executive Committee,Managing Partner

Investee company profi le:

• Sales ranging from €100 million to €500 million• Various business sectors • 35 companies in the portfolio

Investment fund:

Siparex ETI4: with total capital commitments of€315 million, this fund serves France’s most dynamic midmarket companies, making unit investments rangingfrom €10 million to €30 million (or €50 million intandem with other partners).A team working under the responsibility of:

Bertrand Rambaud,Chairman of Siparex Group

Olivier Golder,Managing Partner

Florent Lauzet,Member of the Executive Committee,Managing Partner

Alexandre Tremblin,Managing Partner

MIDMARKET SEGMENT

Investee company profi le:

• Sales ranging from €20 million to €100 million• Various business sectors • 30 companies in the portfolio

Investment fund:

Siparex Midcap 2: with committed capital of€130 million, this fund has made unit investments of €2.5 million to €10 million to fi nance the expansion needs of France’s intermediate-sized companies.

A team working under the responsibility of:

MIDCAP SEGMENT

Jérôme Burtin,Managing Partner

Augustin de Jerphanion,Managing Partner

Nathanaël Martin,Managing Partner

Pierre Bordeaux- Montrieux,Member of the Executive Committee, Managing Partner

Romain Boissonde ChazournesManaging Partner

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In 2015, as a continuation of the Group’s private equity investment business, Siparex launched the €100 million mezzanine fi nance fund Siparex Intermezzo to invest in large midmarket and smaller intermediate-sized companies.

Siparex Intermezzo plans to participate in deals alongside sponsors outside the Siparex group, in sponsorless deals, and in mezzanine growth deals.

Thanks to its fl exible combination of debt and equity features, mezzanine offers companies and their shareholders a number of ways to fi nance their growth.

For companies with ambitious expansion plans, mezzanine is a form of supplementary funding with many advantages:

Siparex Intermezzo’s three-member team benefi ts from Siparex Group’s unique regionalcoverage, its top-notch support network for investees, and the proven expertise andsectoral knowledge of the Group’s investment professionals.

SIPAREX MEZZANINE€100 Million in Assets Under Management

11SIPAREX MEZZANINE

TYPES OF INVESTMENT

• Financing for internal growth

• Acquisition fi nancing

• Refi nancing, strengthening shareholders’ equity

• Equity restructuring of closely-held companies, MBOs, minority liquidityoperations

Investee company profi le:

• Sales ranging from €10 millionto €100 million

• Various business sectors

• Unit investments from €2 million to €10 million (or more, in the case of co-investments)

Richard Dalaud,Member of the Group Executive Committee, Chairman of theManagement Board of Siparex Mezzanine

Philippe Dutheil,Member of the Manage-ment Board of Siparex Mezzanine

LONGER-TERM REPAYMENT PROFILE

Deferred repayment enables investeesto devote almost all of their cash fl ow

to their growth project

TAX-DEDUCTIBLE INTERESTThe interest payable on mezzanine

debt is generally fully deductible, whereas the deductibility on shareholder advances

is very limited

MULTI-USE FUNDINGMezzanine is adaptable to all confi gu-rations, from growth capital to equity

restructuring and transfers of ownership

LOW DILUTIONMezzanine is a pertinent alternative to

new equity investors for companies seeking to maximize future value creation

Silfox - Electronic components

Berkem - Plant extraction

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12

Siparex Group’s Small Caps business assists intermediate-sized companies in the start-up, growth, and transfer of ownership phases. Thanks to its offi ces in Lyon, Paris, Lille, Nantes, Besançon, Dijon, Strasbourg, and Toulouse, the Siparex Group is in continuous direct contact with local entrepreneurs.

The Group’s extensive track record in this segment, in terms of years of experience and number of deals, gives it a keen understanding of the issues facing these companies.

Siparex also puts its fund management know-how and experience at the disposal of sponsors of private and public-sector regional investment funds.

SIPAREX SMALL CAPS€400 Million in Assets Under Management

Investee company profi le:

• Sales < €40 million

• Unit investments ranging from€0.3 million to €3 million

• 200 portfolio companies

DIRECT MANAGEMENT

Management of private expansion capital funds investing in growing intermediate-sized companies:

Siparex Proximité Innovation, in partnership with La Française and Groupe La Poste: Nord Ouest Entrepreneurs 4 and XPansion 2 funds.

Rhône-Alpes PME Gestion, a joint venture between the Siparex Group and Caisse d’Epargne de Rhône-Alpes: Rhône-Alpes Entrepreneurs 4 fund.

Management of public/private funds for start-ups and seed capital:

Invest PME, joint subsidiary of the Siparex Group and CIBFC (a holding company whose units are the primary economic players in the Burgundy and Franche-Comté regions): Franche-Comté Création 4 fund and Cap Innov’Est fund in cooperation with Capital Grand Est.

Management of public/private funds for growth capital and regional redeployment:

Fonds Régional d’Investissement Auvergne Rhône-Alpes, growth capital andredeployment fund founded at the initiative of the Rhône-Alpes region.

Pays de la Loire Croissance, a fund investing in Loire region intermediate-sizedcompanies founded at the initiative of the Pays de la Loire region and Bpifrance.

Défi s 2, a redeployment fund founded at the initiative of the BurgundyFranche-Comté region.

MANAGEMENT ADVISORY

Advising regional public-sector funds on co-investments in start-ups and growthcompanies:

The Siparex Group provides management advisory services to two public-sector co-investment funds that are wholly owned by regional councils. They invest on an equal basis alongside private-sector co-investors: Pays de la Loire Participations(Pays de la Loire) and Nord France Amorçage (Nord Pas-de-Calais).

DIVERSIFICATION IN TERMS OF INVESTMENT SOLUTIONS

Siparex creates and manages funds dedicated to specifi c investment profi les and geographical sectors.

Provendi - Soap manufacturer

Potager City - Produce delivery

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13

“After having established itself as the leader in its market, DMVP must now innovate to consolidate that position. Support from Siparex, a regional and European player, is a true advantage for our nationwide growth and cross-border expansion.”

Charles Woitiez,Chairman of DMVP(Distance continuing education)

“Emresa has reached a key stage in its growth. Following a successful initial phase of buyout and development, the company must now seize growth opportunities it has identifi ed involving new technologies. Siparex is assisting us over the long term in this new phase of expansion.”

Valérie Crauser,Head of Emresa(Employee loyalty and benefi ts services)

A TEAM OF 35 INVESTMENT PROFESSIONALS WORKING UNDER THE RESPONSIBILITY OF

Denis Rodarie, Coordination and Business development

Cyril Fromager,Rhône-Alpes PME Gestion

Damien Fulchiron,Siparex Proximité Innovation

Antoine Puget,Siparex Proximité Innovation

Sébastien Bailly,FRI AuvergneRhône-Alpes

Xavier Chappelon,FRI AuvergneRhône-Alpes

Bénédicte de Chevigny,Invest PME

Patrick Blasselle,Invest PME

Eric Le Hir,Rhône-Alpes PME Gestion

Nicolas Goiran,Siparex Proximité Innovation

PRIVILEGED ACCESS TO INTERMEDIATE-SIZED COMPANIES

Local offi ces throughout France’s regions give Siparex broad nationwide coverage.

TES

TIM

ON

IALS

Pays de la LoirePays de la Loire CroissancePays de la Loire Participations

Auvergne Rhône-AlpesRhône-Alpes Entrepreneurs 4Fonds Régional d’Investissement FRI

Bourgogne Franche-ComtéFonds Invest PME

Serving all of France Multi-regional fund XPansion 2

Nord-Pas de CalaisNord France Amorçage

North West of FranceNord Ouest Entrepreneurs 4

SIPAREX SMALL CAPS

5

4

1 2 3

54

2

1Lille

Nantes

Paris

Dijon Besançon

Strasbourg

Lyon

Toulouse

3

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XAnge is the Siparex Group’s innovation finance brand. The team has specific expertise in IT, advanced industrial technologies (such as cleantech and optics), and societal impact.

It maintains close ties to the French and European entrepreneurial ecosystem based on a double presence in France and Germany that sets it apart. Thanks to its faithful and committed network of institutional, corporate, and banking partners, it is contributing to the growing computerization of society by serving as the liaison between start-ups and major groups.

Investee company profile:

• Companies with a high growth potential, preferably at the beginning of the commercial phase of their operations, and with international ambitions

• Sectors: digital technologies, hard tech, impact investing

• Unit investments ranging from €0.5 million to €10 million

• More than 100 investments over the past 10 years.

INNOVATION€450 Million in Assets Under Management

14

INVESTMENT PHILOSOPHY

An ongoing search for performance XAnge applies a rigorous selection process to ensure the quality of its invest-ments and remain an influential shareholder throughout the investment period.

Assisting entrepreneurs over the long runThe innovation finance team assists portfolio companies above and beyond its financial investment: • It gives start-ups access to our ecosystem of partners and investors to build

their community. • It helps entrepreneurs realize their cross-border ambitions. • It gives them access to our distinctive technological expertise, which is based

on the composite experience of the investment teams and the Group, with its industrial roots.

Investing in societal responsibility The Innovation team, in particular through the XAnge Impact funds, invests in small, innovative French companies that are socially responsible and seek to make a positive impact on society.

INVESTMENT FUNDS

Siparex’s Innovation Financing team manages three types of funds:

• institutional funds specializing in digital technologies: XAnge Digital range

• institutional funds focusing on societal and environmental impact: XAnge Impact range

• tax-advantaged funds (FCPI*).

* FCPI funds enable individuals to benefit from favorable income tax and wealth tax treatment on equity investments in innovative intermediate-sized companies.

La Ruche Qui Dit Oui ! - Sharing economy

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INVESTMENTS IN THE SECTORSOF THE FUTURE

SOFTWARE/DIGITAL PLATFORMS

With most of its investments in these sectors, the team has recognized experience in SaaS, Big Data, cloud technologies, and AdTech.

DIGITAL SERVICES

The team has considerable expertise in new digital services that are disrupting established players.

FINTECH

With more than 10 investments in this sector, the funds in the XAnge Digital range rank among France’s fi ntech specialists, with a strong focus on new payment systems.

IMPACT INVESTING

Thanks to XAnge Impact, the teamaccompanies societal impact start-ups.

ADVANCED TECHNOLOGIES

Thanks to its geographic coverage and history of working with industrial companies, the team is able to assist companies working in high value added industrial technologies, thanks in particular to the knowledge it has gained in the fi elds of optics and robotics

15INNOVATION

A TEAM OF 10 INVESTMENT PROFESSIONALS WORKINGUNDER THE RESPONSIBILITY OF:

Guillaume Meulle Nicolas Rose

Andréas GallCyril Bertrand

Bernhard Schmid

Evaneos - Travel agent

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OFFICES

PARTNERS COMMUNICATIONS

AfricInvest, TUNISIA

Desjardins Capital, CANADA

Priscille Clé[email protected] Phone +33(0)1 5393-0220

siparex.com

The Siparex Group’s management companies are Alternative Investment Fund Managers (AIFM)

authorized by France’s Financial Markets Authority (AMF) since 2014.

The Finansol seal of approval guarantees the solidarity and transparency of the “Epargne S’Fair” product.

SIPAREX IS THE FOUNDEROF EUROMED

Created in 2005 at Siparex’s initiative, this not-for-profi t association fosters communication between the various private equity investment players and partners in the Euro-Mediterranean region, as well as among investors, entrepreneurs, and internatio-nal organizations. It regularly organizes a Private Equity Investment Forum for intermediate sized- companies, which is a leading event for high-level professionals from the countries concerned.

SIPAREX IS A MEMBER OF

SIPAREX SUPPORTS

LABELS

LYON107 Rue Servient CS 93512 69442 Lyon Cedex 03 Phone +33(0)4-7283-2323

NANTES3 Rue Vauban 44000 Nantes Phone +33(0)2-4069-3838

BESANÇONTémis Center 2 9 Avenue des Montboucons 25000 Besançon Phone +33(0)3-8125-0614

PARIS27 Rue Marbeuf 75008 Paris Phone +33(0)1-5393-0220

LILLE90 Rue Pierre Mauroy 59000 Lille Phone +33(0)3-2017-6600

STRASBOURG10 Rue Schimper 67000 Strasbourg Phone +33(0)3-8823-6168

TOULOUSE30 Rue de Metz 31000 Toulouse Phone +33(0)5-3609-5178

DIJONNovarea–Maison Régionale de l’Innovation 64a Rue Sully – CS77124 21071 Dijon Cedex Phone +33(0)3-8040-3410

MADRIDSES Iberia Private Equity SA Calle Serrano 88 28006 Madrid, Spain Phone +34-91-400-5464

MILANSigefi Italia Private Equity SpA Via San Maurilio 19 20123 Milan, Italy Phone +39(0)2-3655-5373

MUNICHMaximilianstraße 4580538 Munich, Germany Phone +49-89-381-699-730