Adagia Partners is a European mid-market private equity firm established in 2020, with offices in Paris and Frankfurt. The firm specializes in investing in mid-cap companies across France, Germany, Benelux, Switzerland, and Austria, focusing on the healthcare, business services, and technology sectors. Adagia Partners is committed to fostering entrepreneurship and partnering with management teams to build and grow companies, emphasizing long-term value creation and the integration of new technologies.
Key Strategic Focus
Adagia Partners concentrates on three core sectors:
- Healthcare: Investing in companies that provide innovative medical products and services.
- Business Services: Supporting firms that offer essential services to other businesses, enhancing operational efficiencies.
- Technology: Backing tech-driven enterprises that leverage digital transformation and artificial intelligence.
The firm aims to support entrepreneurs in implementing growth strategies, including international expansion and technological advancements.
Financials and Funding
In September 2023, Adagia Partners announced the final closing of its debut fund, Adagia Capital Europe, raising €1.1 billion. The fund attracted nearly forty institutional investors, including insurance companies, banks, sovereign funds, funds of funds, pension funds, and foundations from Europe, the Middle East, and the United States. Prominent family offices and private individuals are also well-represented in the investor base. The investment program is structured as a series of parallel funds and is already 50% invested, with close to €600 million deployed in three market-leading platforms and seven add-on acquisitions over the past 18 months.
Pipeline Development
Adagia Partners has made several strategic investments, including:
- SCHWIND eye-tech-solutions: Acquired in December 2021, SCHWIND is a leading provider of eye laser systems for treating vision defects and corneal diseases.
- Minlay: In July 2022, Adagia Partners entered into exclusive negotiations to acquire Minlay, a leading European provider of dental prosthetics and value-added services.
- ADHETEC: In March 2023, the firm, alongside Bpifrance, entered into exclusive negotiations to acquire ADHETEC, a global leader in high-end aerospace adhesive solutions.
- Technoflex: Acquired in October 2024, Technoflex is a global leader in intravenous (IV) drug delivery bags.
Technological Platform and Innovation
Adagia Partners emphasizes the integration of new technologies and digital transformation within its portfolio companies. The firm focuses on leveraging artificial intelligence and other advanced technologies to drive growth and innovation. This approach is evident in their investment in SCHWIND eye-tech-solutions, which develops state-of-the-art laser systems for ophthalmology, and in their support for ADHETEC's expansion in aerospace adhesive solutions.
Leadership Team
The leadership team at Adagia Partners comprises seasoned professionals with extensive experience in private equity and value creation:
- Charles-Édouard Bouée: Co-Founder and Managing Partner. Former CEO of Roland Berger, with over 25 years of consulting experience, specializing in disruptive innovation and digital transformation.
- Nicolas Holzman: Co-Founder and Managing Partner. Brings a wealth of experience in private equity investments and strategic growth initiatives.
- Sylvain Berger-Duquene: Co-Founder and Managing Partner. Specializes in supporting entrepreneurs in implementing growth strategies, including international expansion and technological transformation.
- Katia Carow: Partner and Chief Operating Officer. Oversees the firm's operational activities, ensuring alignment with strategic objectives.
- Johannes Bayer: Partner and Head of DACH. Leads the firm's initiatives in the German-speaking regions, focusing on identifying and managing investment opportunities.
Leadership Changes
In June 2025, Jean-Charles Rousset was appointed as the new CEO of Technoflex, a portfolio company of Adagia Partners. He succeeded Dr. Olivier Chesnoy, who transitioned to the role of Chairman of the Board after nearly 15 years of leadership.
Competitor Profile
Market Insights and Dynamics
The European mid-market private equity sector is characterized by a focus on mid-cap companies with significant growth potential. Key trends include increased emphasis on digital transformation, technological innovation, and sustainable growth strategies.
Competitor Analysis
Adagia Partners operates in a competitive landscape alongside firms such as:
- Motion Equity Partners: A European private equity firm targeting large buyouts and turnaround situations valued up to €300 million, with a sector-agnostic approach.
- Ardian: A global private investment house managing assets across various sectors, including healthcare and technology.
- Bpifrance: The French national investment bank, providing financing and support to businesses at every stage of their development.
Strategic Collaborations and Partnerships
Adagia Partners has engaged in significant collaborations to strengthen its market position:
- Bpifrance: Partnered in the acquisition of ADHETEC, aiming to transform the company into a global leader in customized protection and decoration solutions for the transportation industry.
- Alvest: Collaborated during the acquisition of ADHETEC, leveraging Alvest's expertise in airport ground support equipment to enhance ADHETEC's growth trajectory.
Operational Insights
Adagia Partners differentiates itself through its industry-specialist approach, focusing on sectors where the team has deep expertise. The firm's commitment to integrating new technologies and supporting management teams in implementing growth strategies positions it favorably in the competitive private equity landscape.
Strategic Opportunities and Future Directions
Looking ahead, Adagia Partners aims to continue its investment strategy in mid-cap companies within its core sectors. The firm plans to leverage its €1.1 billion fund to support portfolio companies in achieving international expansion, technological innovation, and sustainable growth.
Contact Information
For more information, visit Adagia Partners' official website:
Follow Adagia Partners on LinkedIn.
