Private Equity

Partnering with responsible SMEs

We partner with entrepreneurs and the management teams of mid-market companies with revenue ranging from €20 million to €1 billion, through minority or majority investments.

In addition to providing the patient capital needed to develop these companies, we actively support them in their sustainability approaches. This includes creating and implementing ESG roadmaps, as well as developing and monitoring CO2 reduction plans.

Tikehau Capital’s platform provides access to an international network of local experts. We position ourselves as strategic partners for businesses, facilitating their scaling efforts and supporting their expansion domestically and internationally.

We forge strategic partnerships with major groups such as TotalEnergies in the energy transition sector, Unilever and AXA Climate in the regenerative agriculture sector and Bpifrance, Airbus, Dassault Aviation, Thales and Safran in the aerospace sector. They invest capital alongside us, bringing their sector expertise and powerful networks to the companies we finance.

Our strategy is focused on digitalisation, build-ups, domestic and international expansion and organic growth. We focus on buoyant themes such as growth and sustainability, energy transition, regenerative agriculture, cybersecurity, aerospace and defence. This approach allows us to strengthen the performance and value of our investments.

Find out more about our Private Equity strategies

DECARBONISATION

01

DECARBONISATION: PROMOTING LARGE-SCALE REDUCTIONS IN CARBON FOOTPRINTS

Investment amount: €40m-200m

With less than 3,000 days left to halve CO2 emissions, it is crucial that we expedite the decarbonisation of our economy. (source: UN, IPCC, April 2022).

We identified decarbonisation as a major investment opportunity as early as 2018. Leveraging the experience of our team and the collective knowledge of our ecosystem, comprising of experts and senior advisors in the fields of science, energy and engineering, we are able capitalise on these opportunities and provide support to companies that goes beyond capital investment.

Investment themes:

  • Clean energy production
  • Energy efficiency of buildings
  • Low-carbon mobility
  • Circular economy


REGENERATIVE AGRICULTURE

02

REGENERATIVE AGRICULTURE : ENABLING LARGE-SCALE AGRICULTURAL TRANSITION

Investment amount: €30m-100m

While 95% of the world’s food supply directly or indirectly involves land use, the United Nations estimates that over 40% of the world’s soil is currently degraded, mainly due to  intensive farming and excessive use of fertilisers (source: FAO, 2021 – The State of the World’s Land and Water Resources for Food and Agriculture).

Our strategy dedicated to regenerative agriculture, created in partnership with Unilever and AXA Climate, tackles the challenge of soil depletion, water pollution and biodiversity loss, all of which are consequences of productivist agriculture.

Investment themes:

Inputs, farming equipment, ingredients, solutions

Aerospace & Defence

03

Aerospace & defence: supporting specialised players and consolidation platforms in the aerospace and defence sector

Investment amount: €20m-100m

We see significant innovation driving strong growth in global demand for the aerospace and defence sector. Its transformation will be facilitated by long-term investment supporting the ramp-up of production and the development of Net Zero technologies.

Two strategies guide our investments. Through our “Support Capital” strategy, we invest in growth or rescue scenarios in niche players boasting intrinsic industrial or technological value.

Through our “Platform” strategy, we make majority or minority investments in consolidation platforms. Our aim here is to foster the emergence of industry leaders to supply aircraft manufacturers.

Investment themes:

Strategic sectors such as aerospace and defence, with a particular focus on new manufacturing processes and digitalisation tools.


Cybersecurity

04

Cybersecurity: restoring trust and building resilience

Investment amount: €10m-50m

Cyberattacks are a major risk worldwide (source : Allianz – 2023 Risk Barometer). Their effects are immediate and their fallout can be substantial. Cybersecurity helps restore trust between economic players and boosts their resilience, thereby contributing to a more sustainable economy. Cybersecurity creates trust, and trust creates value.

We provide innovative companies in the sector with capital to help them implement their growth plans. The Cybersecurity Team is supported by a group of Operating Partners with extensive sector experience.

Investment theme:

Fast-growing, high-potential start-ups and companies developing disruptive cybertechnologies.


The team

Emmanuel Laillier

Head of Private Equity

Emmanuel Laillier joined Tikehau Capital in 2018. He currently serves as Head of Private Equity. Previously, Emmanuel Laillier was a board member and managing director at Eurazeo PME, which he joined in 2011. From 2002 – 2011, he was an Associate Director at EPF Partners. Between 1999 and 2002, he was part of the Fonds Partenaire Gestion investment team (Lazard), after starting his career in corporate finance at Nomura. He has almost 20 years’ experience in midcap private equity.

Education: Ecole Polytechnique

Pierre Abadie

Group Climate Director
& Co-head of the Private Equity Decarbonisation Strategy

Pierre Abadie joined Tikehau Capital in 2018 and serves as Group Climate Director and Co-head of the Private Equity Decarbonisation Strategy. He has over 20 years’ experience in the energy and energy transition sectors. He previously worked at TotalEnergies for 16 years in the Gas and Renewables division.

Education: Université Paris-Saclay (CentraleSupélec)


Mathieu Badjeck

Co-head of the Private Equity Decarbonisation Strategy

Mathieu Badjeck joined Tikehau Capital in 2010 and currently serves as Co-head of Private Equity Decarbonisation Strategy. Mathieu joined the Group as a private equity analyst, before spending two years as an Associate within the French Energy Regulation Commission. In 2014 he re-joined Tikehau Capital as a private equity Associate, before being promoted to Director and then to Executive Director.

Education: The London School of Economics and Political Science

Gilles Daguet

Head of the Private Equity Cybersecurity Strategy

Gilles Daguet serves as Head of the Private Equity Cybersecurity Strategy. Prior to this role, he was Managing Director at Tikehau Ace Capital, a former subsidiary of Tikehau Capital which was fully integrated in 2023.Gilles previously worked as a senior technical leader at the Délégation Générale pour l’Armement, the French government defence procurement and technology agency, before joining the Financière de Brienne fund in 1998 where he helped launch Tikehau Ace Capital (previously known as ACE Management) in 2000. Gilles sits on the Board of Quarkslab and Trustpair.

Formation : Institut Aéronautique Amaury de la Grange, Sorbonne Business School


Laurent-David Charbit

Co-head of the Private Equity Regenerative Agriculture Strategy

Laurent-David Charbit joined Tikehau Capital in 2022 and currently serves as Co-head of the Private Equity Regenerative Agriculture Strategy. He previously spent 12 years at Unilever, where he held various roles in Switzerland, Singapore, the Netherlands and the UK, including Procurement Director in Packaging, Vice President Sustainable Sourcing for Commodities & Ingredients and Procurement Excellence and most recently, Vice President Climate and Sustainability for the group. He started his career in supply chain at Michelin in Hong Kong, before joining McKinsey. He also led supply chain and procurement at Albéa, a leading supplier of packaging to the beauty sector.

Education: Université Paris Dauphine

David Martin

Co-head of the Private Equity Regenerative Agriculture Strategy
Co-head of Iberia

David Martín joined Tikehau Capital in 2021 and serves as Co-head of Iberia and Co-head of the Private Equity Regenerative Agriculture Strategy. Prior to that, he was founding partner and shareholder at ProA Capital, where he worked as senior private equity executive for 13 years, and at Alantra Private Equity. Mr. Martin has lead and executed several mid-market transactions in Iberia and sits on the board of Tikehau Capital portfolio companies in Spain. He started his career in Santander Asset Management in 2002.

Education: Bachelor in Business Administration (Univ. Carlos III, Madrid) and Advanced Management Program (PDG) at IESE Business School.

Cyril Moulin

Co-head of the Private Equity Aerospace & Defence Strategy

Cyril Moulin joined Tikehau Capital as an Executive Director in September 2021 and is currently Co-Head of the Private Equity Aerospace and Defence Strategy. Cyril extensive experience includes 14 years in M&A for leading banks (Morgan Stanley, Lazard, CACIB), 7 years in Corporate M&A (Areva and Orano) and nearly 2 years with as part of Tikehau Capital’s Private Equity team. Cyril is also a member of the investment committee for AAP (Aerospace & Defence).

Roberto Quagliuolo

Deputy Head of Private Equity
Co-Head of Italy

Roberto Quagliuolo joined Tikehau Capital in 2018 and serves as Deputy Head of Private Equity and Co-Head of Italy. Prior to that, he worked at Oaktree Capital Management within the European Principal Group and at Lazard within the M&A division. Mr. Quagliuolo has led and executed several private debt and private equity transactions and sits on the board of Tikehau Capital portfolio companies in Italy. He started his career in 2005 as an Analyst at Lazard after receiving a Master of Science in Management and Production Engineering.

Education: Politecnico di Milano

Fabien Roualdes

Co-Head of the Private Equity Aerospace & Defence Strategy

Fabien Roualdes joined Tikehau Capital in 2022. He currently serves as Co-Head of Tikehau Capital’s Private Equity Aerospace & Defence Strategy. Previously, Fabien Roualdes was Director at AlixPartners in Paris. From 2017 to 2020, he was Managing Director of Satys. From 2007 to 2016, Fabien held several management positions in Operations and Programme Management within Safran, both in France and in the US.

Education:University of Technology Tarbes Occitanie Pyrénées – ENIT

 

Emmanuel Laillier

Head of Private Equity

Emmanuel Laillier joined Tikehau Capital in 2018. He currently serves as Head of Private Equity. Previously, Emmanuel Laillier was a board member and managing director at Eurazeo PME, which he joined in 2011. From 2002 – 2011, he was an Associate Director at EPF Partners. Between 1999 and 2002, he was part of the Fonds Partenaire Gestion investment team (Lazard), after starting his career in corporate finance at Nomura. He has almost 20 years’ experience in midcap private equity.

Education: Ecole Polytechnique

Emmanuel Laillier joined Tikehau Capital in 2018. He currently serves as Head of Private Equity. Previously, Emmanuel Laillier was a board member and managing director at Eurazeo PME, which he joined in 2011. From 2002 – 2011, he was an Associate Director at EPF Partners. Between 1999 and 2002, he was part of the Fonds Partenaire Gestion investment team (Lazard), after starting his career in corporate finance at Nomura. He has almost 20 years’ experience in midcap private equity.

Education: Ecole Polytechnique

Pierre Abadie

Group Climate Director
& Co-head of the Private Equity Decarbonisation Strategy

Pierre Abadie joined Tikehau Capital in 2018 and serves as Group Climate Director and Co-head of the Private Equity Decarbonisation Strategy. He has over 20 years’ experience in the energy and energy transition sectors. He previously worked at TotalEnergies for 16 years in the Gas and Renewables division.

Education: Université Paris-Saclay (CentraleSupélec)

Pierre Abadie joined Tikehau Capital in 2018 and serves as Group Climate Director and Co-head of the Private Equity Decarbonisation Strategy. He has over 20 years’ experience in the energy and energy transition sectors. He previously worked at TotalEnergies for 16 years in the Gas and Renewables division.

Education: Université Paris-Saclay (CentraleSupélec)

Mathieu Badjeck

Co-head of the Private Equity Decarbonisation Strategy

Mathieu Badjeck joined Tikehau Capital in 2010 and currently serves as Co-head of Private Equity Decarbonisation Strategy. Mathieu joined the Group as a private equity analyst, before spending two years as an Associate within the French Energy Regulation Commission. In 2014 he re-joined Tikehau Capital as a private equity Associate, before being promoted to Director and then to Executive Director.

Education: The London School of Economics and Political Science

Mathieu Badjeck joined Tikehau Capital in 2010 and currently serves as Co-head of Private Equity Decarbonisation Strategy. Mathieu joined the Group as a private equity analyst, before spending two years as an Associate within the French Energy Regulation Commission. In 2014 he re-joined Tikehau Capital as a private equity Associate, before being promoted to Director and then to Executive Director.

Education: The London School of Economics and Political Science

Gilles Daguet

Head of the Private Equity Cybersecurity Strategy

Gilles Daguet serves as Head of the Private Equity Cybersecurity Strategy. Prior to this role, he was Managing Director at Tikehau Ace Capital, a former subsidiary of Tikehau Capital which was fully integrated in 2023.Gilles previously worked as a senior technical leader at the Délégation Générale pour l’Armement, the French government defence procurement and technology agency, before joining the Financière de Brienne fund in 1998 where he helped launch Tikehau Ace Capital (previously known as ACE Management) in 2000. Gilles sits on the Board of Quarkslab and Trustpair.

Formation : Institut Aéronautique Amaury de la Grange, Sorbonne Business School

Gilles Daguet serves as Head of the Private Equity Cybersecurity Strategy. Prior to this role, he was Managing Director at Tikehau Ace Capital, a former subsidiary of Tikehau Capital which was fully integrated in 2023.Gilles previously worked as a senior technical leader at the Délégation Générale pour l’Armement, the French government defence procurement and technology agency, before joining the Financière de Brienne fund in 1998 where he helped launch Tikehau Ace Capital (previously known as ACE Management) in 2000. Gilles sits on the Board of Quarkslab and Trustpair.

Formation : Institut Aéronautique Amaury de la Grange, Sorbonne Business School

Laurent-David Charbit

Co-head of the Private Equity Regenerative Agriculture Strategy

Laurent-David Charbit joined Tikehau Capital in 2022 and currently serves as Co-head of the Private Equity Regenerative Agriculture Strategy. He previously spent 12 years at Unilever, where he held various roles in Switzerland, Singapore, the Netherlands and the UK, including Procurement Director in Packaging, Vice President Sustainable Sourcing for Commodities & Ingredients and Procurement Excellence and most recently, Vice President Climate and Sustainability for the group. He started his career in supply chain at Michelin in Hong Kong, before joining McKinsey. He also led supply chain and procurement at Albéa, a leading supplier of packaging to the beauty sector.

Education: Université Paris Dauphine

Laurent-David Charbit joined Tikehau Capital in 2022 and currently serves as Co-head of the Private Equity Regenerative Agriculture Strategy. He previously spent 12 years at Unilever, where he held various roles in Switzerland, Singapore, the Netherlands and the UK, including Procurement Director in Packaging, Vice President Sustainable Sourcing for Commodities & Ingredients and Procurement Excellence and most recently, Vice President Climate and Sustainability for the group. He started his career in supply chain at Michelin in Hong Kong, before joining McKinsey. He also led supply chain and procurement at Albéa, a leading supplier of packaging to the beauty sector.

Education: Université Paris Dauphine

David Martin

Co-head of the Private Equity Regenerative Agriculture Strategy
Co-head of Iberia

David Martín joined Tikehau Capital in 2021 and serves as Co-head of Iberia and Co-head of the Private Equity Regenerative Agriculture Strategy. Prior to that, he was founding partner and shareholder at ProA Capital, where he worked as senior private equity executive for 13 years, and at Alantra Private Equity. Mr. Martin has lead and executed several mid-market transactions in Iberia and sits on the board of Tikehau Capital portfolio companies in Spain. He started his career in Santander Asset Management in 2002

Education: Bachelor in Business Administration (Univ. Carlos III, Madrid) and Advanced Management Program (PDG) at IESE Business School.

David Martín joined Tikehau Capital in 2021 and serves as Co-head of Iberia and Co-head of the Private Equity Regenerative Agriculture Strategy. Prior to that, he was founding partner and shareholder at ProA Capital, where he worked as senior private equity executive for 13 years, and at Alantra Private Equity. Mr. Martin has lead and executed several mid-market transactions in Iberia and sits on the board of Tikehau Capital portfolio companies in Spain. He started his career in Santander Asset Management in 2002

Education: Bachelor in Business Administration (Univ. Carlos III, Madrid) and Advanced Management Program (PDG) at IESE Business School.

Cyril Moulin

Co-head of the Private Equity Aerospace & Defence Strategy

Cyril Moulin joined Tikehau Capital as an Executive Director in September 2021 and is currently Co-Head of the Private Equity Aerospace and Defence Strategy. Cyril extensive experience includes 14 years in M&A for leading banks (Morgan Stanley, Lazard, CACIB), 7 years in Corporate M&A (Areva and Orano) and nearly 2 years with as part of Tikehau Capital’s Private Equity team. Cyril is also a member of the investment committee for AAP (Aerospace & Defence).

Education: ESCP Business School

Cyril Moulin joined Tikehau Capital as an Executive Director in September 2021 and is currently Co-Head of the Private Equity Aerospace and Defence Strategy. Cyril extensive experience includes 14 years in M&A for leading banks (Morgan Stanley, Lazard, CACIB), 7 years in Corporate M&A (Areva and Orano) and nearly 2 years with as part of Tikehau Capital’s Private Equity team. Cyril is also a member of the investment committee for AAP (Aerospace & Defence).

Education: ESCP Business School

Roberto Quagliuolo

Deputy Head of Private Equity
Co-Head of Italy

Roberto Quagliuolo joined Tikehau Capital in 2018 and serves as Deputy Head of Private Equity and Head of Italy. Prior to that, he worked at Oaktree Capital Management within the European Principal Group and at Lazard within the M&A division. Mr. Quagliuolo has led and executed several private debt and private equity transactions and sits on the board of Tikehau Capital portfolio companies in Italy. He started his career in 2005 as an Analyst at Lazard after receiving a Master of Science in Management and Production Engineering.

Education: Politecnico di Milano

Roberto Quagliuolo joined Tikehau Capital in 2018 and serves as Deputy Head of Private Equity and Head of Italy. Prior to that, he worked at Oaktree Capital Management within the European Principal Group and at Lazard within the M&A division. Mr. Quagliuolo has led and executed several private debt and private equity transactions and sits on the board of Tikehau Capital portfolio companies in Italy. He started his career in 2005 as an Analyst at Lazard after receiving a Master of Science in Management and Production Engineering.

Education: Politecnico di Milano

Fabien Roualdes

Co-Head of the Private Equity Aerospace & Defence Strategy

Fabien Roualdes joined Tikehau Capital in 2022. He currently serves as Co-Head of Tikehau Capital’s Private Equity Aerospace & Defence Strategy. Previously, Fabien Roualdes was Director at AlixPartners in Paris. From 2017 to 2020, he was Managing Director of Satys. From 2007 to 2016, Fabien held several management positions in Operations and Programme Management within Safran, both in France and in the US.

Education:University of Technology Tarbes Occitanie Pyrénées – ENIT

 

Fabien Roualdes joined Tikehau Capital in 2022. He currently serves as Co-Head of Tikehau Capital’s Private Equity Aerospace & Defence Strategy. Previously, Fabien Roualdes was Director at AlixPartners in Paris. From 2017 to 2020, he was Managing Director of Satys. From 2007 to 2016, Fabien held several management positions in Operations and Programme Management within Safran, both in France and in the US.

Education:University of Technology Tarbes Occitanie Pyrénées – ENIT

 

Our investment portfolio

Selection of portfolio companies

Vulcain

Investment date : 08/2024
Expertise : Private Equity
Country : France
Strategy : Decarbonisation
Vulcain Engineering is a France-based pan European leading engineering consultancy firm, focused on decarbonization and sovereign infrastructures across 4 main verticals: gas renewables and process industries (GRP), nuclear, health & life sciences, and railways infrastructure & naval.

Provenrun

Investment date : 12/2023
Job : Private Equity
Country : France
Strategy : Cybersecurity

Founded in 2009, ProvenRun pioneered formal methods and security evaluation techniques to reach the highest levels of security-by-design for complex software.

BioFirst

Investment date : 12/2023
Expertise : Private Equity
Country : Belgium
Strategy : Regenerative Agriculture

Founded in 1987 and headquartered in Westerlo (Belgium), BioFirst is a pioneer in bumblebee pollination and a global leader in sustainable crop management solutions, in particular in biocontrol.

Secan

Investment date : 11/2023
Expertise : Private Equity
Country : France
Strategy : Aerospace & Defense

Founded in 1941, Société d'Études et de Constructions Aéronavales (Secan) designs and develops customized thermal management solutions for the aerospace and defense industries

Biobest

Investment date : 09/2023
Expertise : Private Equity
Country : Belgium
Strategy : Regenerative Agriculture

'Founded in 1987 and headquartered in Westerlo (Belgium), Biobest is a pioneer in bumblebee pollination and a global leader in sustainable crop management solutions, in particular in biocontrol.

Anthesis

Investment date : 08/2023
Expertise : Private Equity
Country : UK
Strategy : Decarbonisation

'Founded in 2013, Anthesis has emerged as a leader in sustainable development services and solutions. The company focuses on developing and implementing sustainability strategies, enhancing digital capabilities, implementing carbon emissions reduction plans, and creating goal-oriented communications for over 4,000 clients spanning the corporate, financial, and government sectors. With 1,250 specialists across 47 offices in 24 countries, Anthesis serves a diverse global clientele of top-tier organizations.

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