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.

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.