Management & Private Investors invests in Millet

The Millet family acquired in November 2026 the 20% jointly held by Inspiring Sport Capital and Nouvel Atlas, funding the purchase from its own resources and taking the whole of the capital, having held 80% since the repurchase of 2022. Based at Annecy-le-Vieux in Haute-Savoie, Millet designs and sells clothing and equipment for mountain activities: technical jackets and layers for alpinism and ski touring, climbing harnesses and ropes, and the rucksacks with which the company built its name. Jean-Pierre Millet and his nephew Romain, grandson and great-grandson of the founders, run the business. The family had sold the company fifty years earlier, and it passed through several owners before reaching the Swiss group Calida, from which it was repurchased in 2022 with the support of financial partners. Inspiring Sport Capital, an investment firm dedicated to sport and entertainment founded by Lucien Boyer and Laurent Damiani, assembled that group, which included Nouvel Atlas, the holding company of the Lemarchand family who founded Nature & Découvertes. Each committed less than 10 million euros on equal terms. Mountain equipment rewards a name established over generations, since a climber selects a harness or a jacket on the reputation of whoever makes it rather than on price, and that reputation accumulates through use in the mountains rather than through advertising, which is what a family identity preserves and a succession of corporate owners dilutes.

The acquisition of Millet is part of the growth strategy of Management & Private Investors, which already has several external growth operations under its belt, notably Lapeyre in 2026.