Equistone takes majority stake in Sicame

FRANCE Industrial Equipment / Components / Electrical Equipment REV €250–500M

Context

Equistone Partners Europe has increased its stake in Sicame Group from 20% to approximately 60%, becoming the majority shareholder. The transaction involves the full exit of Siparex (which achieved a return of over 2.0x on its 2009 investment) and Etoile ID. Additionally, several members of the founding Lachaud and Brahimi families have exited, though both families retain a substantial minority position. The deal values Sicame at an Enterprise Value between €250 million and €300 million. This leveraged buyout (LBO) is designed to provide the group with a stable long-term financial partner to pursue its aggressive international M&A strategy, particularly in markets with high regulatory barriers and unique technical norms.

The acquisition of Sicame is part of the growth strategy of Equistone, which already has several external growth operations under its belt, notably Finaxy in 2014.

Sicame, which reported an EBITDA margin of [members only] in 2015, is valued in this transaction at an EV/EBITDA multiple of [members only].

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Target

Sicame Group is a global specialist in manufacturing connectivity equipment and providing consultancy services for the transmission and distribution of electrical energy. The company designs and produces a wide range of accessories for low, medium, and high voltage networks, including mechanical connectors, street lighting equipment, and safety devices for technicians. With a strong industrial footprint, Sicame serves major utility providers and infrastructure operators worldwide. Its business model focuses on mission-critical components that ensure grid reliability and safety. Strategically, the group leverages a proactive "buy-and-build" strategy to consolidate the global electrical equipment market, aiming to double its size through international expansion and technological innovation.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2015

2014

Other operations with Sicame

Other operations with Sicame
Date	Acquirer	Target	Country	Sector
07/2022	EQUISTONE / ALPINVEST	SICAME	FRANCE	Electrical Equipment

Other operations with Equistone

Other operations with Equistone
Date	Acquirer	Target	Country	Sector
08/2019	EQUISTONE / SAGARD	VULCAIN INGENIERIE	FRANCE	Engineering & Consulting
02/2019	EQUISTONE	COURIR	FRANCE	Sport
04/2018	EQUISTONE	KARAVEL	FRANCE	Tour Operators
07/2017	EQUISTONE	GROUPE BRUNEAU	FRANCE	Office Supplies & Furniture
07/2016	EQUISTONE / GEI	ADISTA	FRANCE	MSP (Managed Services)
01/2016	EQUISTONE	NOVARES	FRANCE	Auto Parts & Systems
04/2014	EQUISTONE	FINAXY	FRANCE	Brokerage
11/2013	EQUISTONE	MADEMOISELLE DESSERTS	FRANCE	Bakery / Pastry
09/2013	EQUISTONE	CHARLES & ALICE	FRANCE	Food Products
08/2010	EQUISTONE	MPS MEAT PROCESSING SYSTEMS	NETHERLANDS	Food & Beverage Lines

Similar deals in Industrial Equipment

Similar deals in Industrial Equipment
Date	Acquirer	Target	Country	Sector
10/2016	ARDIAN	SLV	GERMANY	Electrical Equipment
04/2016	SMITHS GROUP	MORPHO DETECTION	UNITED STATES	Safety & Security
11/2015	MAREL	MPS MEAT PROCESSING SYSTEMS	NETHERLANDS	Food & Beverage Lines
07/2015	CVC	LINXENS	FRANCE	Safety & Security
07/2015	HONEYWELL	ELSTER	GERMANY	Instrumentation & Measurement
07/2015	CINVEN	TRACTEL	LUXEMBOURG	Lifting & Handling
06/2015	VANDEWIELE	SUPERBA	FRANCE	Robotics & Automation
07/2014	NAXICAP PARTNERS	SUD ROBINETTERIE INDUSTRIE	FRANCE	Valves, Pumps & Taps
04/2014	TRITON PARTNERS	KELVION	GERMANY	Boilers & Thermal Solutions
02/2014	ICG	APEM GROUP	FRANCE	Electrical Equipment

REFERENCES

Revenue range: REV €250–500M

EBITDA range: €25–50M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Sicame by Equistone are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Sicame, a French company specialised in Components, by Equistone in 2015, structured as a leveraged buyout (LBO). Ownership has since evolved, leading to a subsequent transaction with Equistone / Alpinvest in July 2022 (see the dedicated deal page for details).

What were Sicame’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Sicame generated annual revenue estimated in the €250–500M range and EBITDA in the €25–50M bracket (FY 2015). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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