{"id":57299,"date":"2026-03-26T18:12:19","date_gmt":"2026-03-26T17:12:19","guid":{"rendered":"https:\/\/editing.capitalmind.com\/?post_type=deals&#038;p=57299"},"modified":"2026-03-31T15:33:39","modified_gmt":"2026-03-31T13:33:39","slug":"lbo-of-sdag-adhesifs-backed-by-innovafonds-and-bpifrance","status":"publish","type":"deals","link":"https:\/\/www.investec.com\/advisory\/deals\/lbo-of-sdag-adhesifs-backed-by-innovafonds-and-bpifrance\/","title":{"rendered":"LBO of SDAG Adh\u00e9sifs backed by InnovaFonds and Bpifrance"},"content":{"rendered":"\n<p><strong>Investec has advised the shareholders of SDAG Adh\u00e9sifs in delivering a new LBO transaction sponsored by InnovaFonds and Bpifrance<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">About the deal<\/h2>\n\n\n\n<p>Founded in 1985 and based in Weyersheim (Alsace), SDAG Adh\u00e9sifs is the French leader in the distribution of consumables for professionals in the visual communication and signage industries. The Group operates through three locations in France (Weyersheim, Nantes, Paris) and two internationally (Switzerland and Belgium), and benefits from strong partnerships with leading global manufacturers of adhesive solutions (ORAFOL, 3M, MACTAC), complemented by its own brand, SD M\u00e9dias.<\/p>\n\n\n\n<p>With c. \u20ac50 million in revenue, SDAG Adh\u00e9sifs has experienced sustained and continuous growth, driven by strong customer loyalty, the quality of its offering combined with recognised technical advisory expertise, and high reactivity. The Group has established a leading position in France by leveraging the breadth of its product range &#8211; comprising over 12,000 SKUs &#8211; and excellence in customer service. SDAG Adh\u00e9sifs has undergone a major transformation following Siparex\u2019s minority investment in 2021, nearly doubling its revenue through robust organic growth in France and neighboring countries, the strong development of its own brand SD M\u00e9dias, and the completion of three acquisitions.<\/p>\n\n\n\n<p>To accelerate the Group\u2019s development, Didier Hariot and Bertrand Delhoume have chosen to partner with InnovaFonds and Bpifrance to support a new phase of growth. This shareholder reorganisation allows Didier Hariot to retain a majority stake, enables Bertrand Delhoume to significantly increase his shareholding, and facilitates the exit of Siparex Midcap, a shareholder since 2021. In this new chapter, the Group aims to accelerate its international expansion, continue enhancing its product offering, and explore external growth opportunities, several of which are already under consideration.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Our role<\/h2>\n\n\n\n<p>Investec supported SDAG Adh\u00e9sifs\u2019 shareholders throughout the entire sale process: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Defining the strategy and the timeline of the deal,<\/li>\n\n\n\n<li>Designing the equity story, <\/li>\n\n\n\n<li>Drafting the marketing documentation, <\/li>\n\n\n\n<li>Qualifying financial buyers which were most likely to value SDAG Adh\u00e9sifs\u2019 positioning and support the group\u2019s development, <\/li>\n\n\n\n<li>Assisting management in drafting the business plan, <\/li>\n\n\n\n<li>Coordinating due diligence, <\/li>\n\n\n\n<li>Raising the debt package required for the deal, <\/li>\n\n\n\n<li>Monitoring of a competitive process,<\/li>\n\n\n\n<li>Negotiating best terms &amp; conditions for the deal.<\/li>\n<\/ul>\n\n\n<section class=\"content--block quoteBlock \">\n    <div class=\"holder\">\n        <div class=\"stories slide-up d-flex\" data-scroll=\"\">\n                            <div class=\"stories__bg\">\n                    <img decoding=\"async\" src=\"https:\/\/www.investec.com\/advisory\/wp-content\/uploads\/2026\/03\/Didier-Hariot-round.png\"\n                        alt=\"\" \/>\n                <\/div>\n            \n            <blockquote class=\"stories__desc\" >\n                <span class=\"stories__desc_quote\">\u201c\u201d<\/span>\n\n                                    <div class=\"justified\"><p>Following an off-market transaction completed with Siparex in 2021, we had the pleasure of working with the Investec team, who supported us in preparing for our secondary LBO. The team demonstrated strong pedagogical skills, great attention to detail, and a high level of commitment in helping us structure a successful transaction. It has been a very positive experience that we would be delighted to repeat!<\/p>\n<\/div>                \n\n                                    <cite>&#8211; Didier Hariot, CEO, SDAG Adh\u00e9sifs<\/cite>\n                            <\/blockquote>\n        <\/div><!-- \/.stories -->\n    <\/div>\n<\/section>\n<!-- ============= End of \/.QuoteBlock =============== -->\n\n<section class=\"content--block quoteBlock \">\n    <div class=\"holder\">\n        <div class=\"stories slide-up d-flex\" data-scroll=\"\">\n                            <div class=\"stories__bg\">\n                    <img decoding=\"async\" src=\"https:\/\/www.investec.com\/advisory\/wp-content\/uploads\/2026\/03\/Bertrand-Delhoume-round.png\"\n                        alt=\"\" \/>\n                <\/div>\n            \n            <blockquote class=\"stories__desc\" >\n                <span class=\"stories__desc_quote\">\u201c\u201d<\/span>\n\n                                    <div class=\"justified\"><p>The Investec team very quickly developed a deep understanding of our business and its specificities. The transaction process was executed with great rigor, while fully adhering to the agreed timetable. Investec coordinated all parties involved in the transaction efficiently, ensuring strict alignment with the defined scope and requirements. For all these reasons, I would highly recommend the team.<\/p>\n<\/div>                \n\n                                    <cite>&#8211; Bertrand Delhoume, Managing Director, SDAG Adh\u00e9sifs<\/cite>\n                            <\/blockquote>\n        <\/div><!-- \/.stories -->\n    <\/div>\n<\/section>\n<!-- ============= End of \/.QuoteBlock =============== -->","protected":false},"excerpt":{"rendered":"<p>Investec has advised the shareholders of SDAG Adh\u00e9sifs in delivering a new LBO transaction sponsored by InnovaFonds and Bpifrance About&#8230;<\/p>\n","protected":false},"featured_media":57315,"template":"","dt":[],"sector":[26],"dealtype":[37,35,33],"clienttype":[34,38],"class_list":["post-57299","deals","type-deals","status-publish","has-post-thumbnail","hentry","sector-business-services","dealtype-lbo","dealtype-debt-advisory","dealtype-sell-your-business","clienttype-founders-entrepreneurs","clienttype-financial-investors"],"acf":[],"yoast_head":"<!-- This site is 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