Chantal Parpex

LBO France is an active manager which invests in small- to medium-sized French or French-managed companies across a variety of sectors. The firm takes majority or controlling minority positions in companies valued between 10 million to 2.5 billion euros across manufacturing and services sectors, seeking to invest in profitable, market-leading businesses with growth potential. LBO France always takes a seat on the Supervisory Board of their investee companies, supporting management with strategic decisions and not interfering with day-to-day management. The firm invests in a limited number of companies, generally holding an investment for three to seven years, seeking to realize investments by finding a trade purchaser or arranging a secondary LBO or an IPO. For small-cap investments, LBO France focuses exclusively on unquoted companies with enterprise values of 10 to 50 million euros which have predictable revenue, profit and cash flows, excellent potential for growth or consolidation and a solid business plan offering good prospects for increasing valuation. For medium-sized firms with an enterprise value of 0.1 to 2.5 billion euros, the firm employs either a continuity or transformation strategy. Their continuity strategy utilizes leverage to acquire a majority stake in companies with predictable sales, profits and cash flow, a competitive cost structure or one that may be rapidly improved, a capable existing or potential management team and a strong market position and possible market leadership. Investee companies may be family-owned companies or subsidiaries or divisions of major groups. The firm's transformation strategy involves taking a majority or a minority position in companies with distinct and disposable business activities, under-utilized assets, substantial market share and a competitive advantage. They focus each company on their fastest-growing businesses and markets and sell their other businesses. They seek to increase operating margins by reducing costs, freeing up working capital and developing new business and set up management teams using performance-based remuneration to motivate them. LBO France's real estate team specializes in the French property sector, investing in all asset types and market segments including property companies, properties that generate capital gains (held from three to five years) and income properties (held for over five years). The firm's real estate team targets investments with asset values greater than 30 million euros.

Develops cutting edge genome analysis products

Innovation Capital is an active manager which specializes in technology venture capital, investing in both early- and late-stage businesses with distinctive technology and high-growth potential, within the information technology and life sciences industries. They have invested in sectors including information and communication technologies, clean technologies, advanced materials, robotics, healthcare, biotechnologies and medical technologies. The firm seeks to invest in companies with a dynamic management team with execution capacity, a sizeable growth market, immediate user relevance, competitive advantages, reasonable development cost, intellectual property potential, and a sustainable business model. Innovation Capital aims to foster the growth of their investee companies through advisory consulting and networking opportunities. They lead the first and subsequent financing round or co-invest in re-financing rounds. They follow a pragmatic investment approach, are actively involved in the management of their investee companies and seek board representation.

Functions as a College/University

Develops and manufactures drugs for immune modulation

Develops and manufactures drugs for eye treatment

ITSA is an active private equity investment manager focused exclusively on the French biomedical sector, particularly on areas related to INSERM's medical research effort. They favor projects in fields including therapeutic agents, medical devices, diagnostics, tools and technological platforms. The firm invests between EUR 100 and 300 thousand in pre-seed and seed financing. ITSA's investment criteria include sound science, a driven management team, strong IP, a realistic business model with a clearly defined market, and a competitive milestone-driven schedule. They seek to invest in ambitious projects addressing unmet medical needs and potentially leading to dominant market positions. The firm may act as a co-founder, generally sits on the board of their portfolio companies and actively participates in their strategic decisions.

Provides software in clinical trials solutions

Provides surgery accessories