Capital Croissance invests in Seipra Score

Capital Croissance acquired just under a third of Seipra Score in October 2025 through its Edelweiss Croissance I fund, in an owner buy-out alongside the management team and existing shareholders. Chairman Frédéric Vetrano, who took over the business in 2001, was diluted but retained control and a majority of the capital, while chief executive Alexandre Cléry and several managers invested alongside. The transaction valued the company at an EV/EBITDA multiple of 5x–12x, and was the eleventh investment from that fund. Founded in 1982 and operating from Dardilly near Lyon and from Toulouse, Seipra Score designs and supplies the equipment displaying travel information to passengers on buses, trams, trains and at stops, together with the onboard video surveillance systems and the software managing both. It covers design, development, manufacture, installation and subsequent maintenance, and employs close to 70 people. Revenue amounted to €10–30M. Transport authorities procure these systems under public tender and keep them in service for a decade or more, which makes the supplier’s position depend on being qualified for networks already equipped, since replacing a display estate means replacing the communications and management software behind it. The company has extended from supplying individual components to delivering the whole chain, which allows it to bid as the sole contractor rather than as a subcontractor. Demand has followed the obligation on operators to provide real-time information and the installation of surveillance on public vehicles, alongside large projects including the Grand Paris Express and the renewal of passenger information across the Île-de-France network.

By taking control of Seipra Score, Capital Croissance continues its expansion strategy. Previously, the group had completed 2 acquisitions, including STID in 2024.