This site provides comprehensive information on the funds invested in listed shares by LBO France Gestion.

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Investing in the Growth of French and Italian SMEs
Key figures
Testimony
Operational Value Creation
Our Investment Criteria
Polis SGR
Team

LBO Small Cap

Investing in the Growth of French and Italian SMEs

Investing in the Growth of French and Italian SMEs

Since 2003, we have been investing in companies typically valued between €20 million and €120 million. As a local investor, our goal is to accelerate their growth by combining international expansion, strategic acquisitions, and organizational structuring.

We are particularly experienced in supporting family-owned businesses undergoing transition, providing them with a dedicated operational team and privileged access to our extensive network. With a generalist sector approach and a strong presence in both France and Italy through our subsidiary Polis SGR, we identify unique opportunities in attractive niche markets.

Key figures

€597 m
invested amount
39
deals since 2003
+ 15 years
of experience
Testimony

Testimony

Jean-Marie Leroy, Partner, Head of Small Cap

LBO SMALL CAP

Operational Value Creation

Operational Value Creation

In close collaboration with the operational team of LBO France, the Small Cap team puts the diversity of its profiles and its experience at the service of companies and their leaders to help them cross organizational or growth ceilings. Decision-making is quick and solutions are bespoke, with a permanent concern for efficiency and pragmatism.

For further details

Our Investment Criteria

  • Equity tickets between €5 million and €40 million
  • Majority investments as a priority
  • Focus on France and Italy via our subsidiary Polis SGR
  • Leading companies in attractive niche markets
  • Businesses engaged in ESG transformation
  • Target sectors: generalist approach with strong expertise in B2B distribution, IT services, and healthcare

Polis SGR

We are firmly convinced of Italy’s potential, which we consider our second domestic market. Italy boasts a deeply rooted network of family-owned SMEs that are export-oriented and offer strong opportunities for private equity investments.

With structural dynamics closely mirroring those of France, Italy represents a natural and strategic extension of our platform. We have accelerated our development in the country by acquiring a majority stake in Polis SGR. Initially focused on NPLs, Polis now consolidates all our activities in Italy and offers a diversified range of investment strategies spanning both private equity and real estate.

Our ambition is to establish Polis as a leading alternative investment platform in Italy, playing a key role in the development of what we believe will be a high-potential market in the coming years, while strengthening our ability to execute cross-border investments.