Ciclad

Founded in 1988, Ciclad is an independent private-equity firm with investment teams based in Paris and Lyon. It invests across sectors in France and internationally, focusing on small and mid-sized companies and working with management teams and entrepreneurs.

Ciclad finances business transfers, management buyouts, group carve-outs, growth projects and capital restructurings. It can take either majority or minority positions, typically investing €1 million to €20 million in companies valued between €2 million and €60 million.

The firm’s distinctive strength is its small-cap, partnership-led approach: managers retain substantial autonomy while Ciclad provides strategic support on add-on acquisitions, key hires, partnerships and international development. Its investment horizon is generally five to seven years, and the team invests alongside its funds.