Siparex, Bpifrance & Carvest (Crédit Agricole Régions Investissement) take majority stake in Satys Electric

Siparex Midcap acquired a minority stake in Satys Electric on 22 October 2026, in a transaction through which the management team led by Thomas Ponchon took majority control. Capital Croissance exited in full, while Bpifrance Investissement and Crédit Agricole Régions Investissement reinvested alongside Siparex. Crédit Agricole de Franche-Comté, BNP Paribas, Banque CIC Est, LCL and Bpifrance provided the bank financing. Founded in 1999, Satys Electric designs and manufactures wiring harnesses, electrical cabinets and electromechanical sub-assemblies to its customers’ specifications. It participates in the design, sources the components and manufactures in medium volumes across a wide range of references. Its customers are large industrial groups in medical equipment, railways, aerospace, machinery, energy, data centres and semiconductors. It employs more than 1,000 people across sites in France, the United States, India, Thailand and China, supported by logistics hubs on three continents, and generated revenue of €70m. The business turns on qualification rather than price. Supplying a railway operator, an aircraft manufacturer or a medical device maker requires certification to standards specific to each sector, which the company holds across aerospace, rail, medical and environmental management. Those approvals take years to obtain and attach to the manufacturing site, which is what makes a qualified supplier difficult to replace once a product is in series production. Led by Thomas Ponchon since 2012, the group had grown steadily, including after its separation from the Satys group in 2020, a spin-off backed by Capital Croissance. The new shareholders intended to fund organic growth with existing and new customers, acquisitions, and possible additional manufacturing sites abroad. Investec advised the sellers and management on the M&A, with Lamartine as legal counsel, CMI on strategic and BDO on financial due diligence. Lexicube and Périclès Avocats advised the acquirers, with Interpath on financial and Strategia on strategic due diligence, while De Gaulle Fleurance advised the banks.