Our participations

Founded in 2011, the Makao Group specializes in the design and manufacture of premium packaging solutions for high-end craft homes. In July 2025, Florac took a minority stake alongside founder and director David Jankowski (who remains the majority shareholder) and the management team (which also invested in the transaction). Makao will accelerate its organic development and external growth strategy to expand its expertise to new verticals, customers, and geographies. The Company will also further optimize its operations to meet the growing demands of its customers for quality, innovation, and sustainability.

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Bonum is a marketing and communications firm specializing in audience engagement and fundraising for non-profit and general interest causes. In October 2024, Florac took a majority stake alongside existing shareholders Deborah Berger (Bonum CEO and Founder) and Trajan Capital with the goal of accelerating the Company’s organic development and external growth strategy.

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Founded in 2018, Labelys is a European leader in the design, printing, and marketing of adhesive labels for the cosmetics, food, wine and spirits, and industrial sectors, among others. In July 2024, Florac took a minority stake alongside existing founder and financial shareholders in order to support the Company’s external growth strategy.

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US Salt (“USS”) is a vertically integrated producer and packager of evaporated salt products for retail food, commercial food processing, pharmaceutical, and consumer water softening applications. In April 2024, Florac made a strategic investment in USS alongside controlling shareholder Emerald Lake Capital Management, a Los Angeles-based private equity firm that acquired the Company in 2021.

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Integrated Pain Associates (“IPA”) is a minimally invasive spine and pain platform providing advanced surgical procedures to underserved markets in Texas. The Company’s talented team of physicians and advanced practitioners deliver life-improving care to patients with chronic pain. In January 2023, Florac joined Triton Pacific Capital Partners and Star Mountain Capital in partnering with IPA’s founders to provide financial backing and industry expertise in support of the Company’s mission to improve access to quality care for patients affected by chronic pain in Central and West Texas.

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ClubFunding is a multi-asset investment platform offering real estate and other financial products to individual and institutional investors. In 2022, Florac took a minority stake in the business alongside Peninsula Capital, EMZ Partners, and Bpifrance. The transaction was carried out in partnership with a new generation of managers, who now represent the majority shareholders. Florac will support the launch of new investment solutions and the international development of the business.

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Entertainment Earth is an online retailer of toys and collectibles for fans of the world’s most iconic franchises and intellectual properties. In July 2022, Florac took a minority stake alongside new shareholders Equity Group Investments and IVEST Consumer Partners to support the growth of the Company.

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Diverzify is the leading provider of commercial flooring installation and maintenance services in the United States. In August 2021, Florac took a minority stake in the business alongside controlling shareholder ACON Investments with the aim of supporting the development and geographical expansion of the Company.

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Founded in 2012 by Julien Palengat and Sebastien Alphand, Theop is a major independent provider of consulting and management services to the real estate industry in France. The Company assists clients in the design, coordination, and monitoring of complex real estate projects, in addition to consulting clients on real estate acquisitions. In July 2021, Florac invested in Theop alongside its founder and managers with the aim of accelerating and supporting the Company’s development, particularly in new verticals such as hospitality and logistics.

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Founded in 2012, Dentius is a group of dental centers with a presence in Belgium, the Netherlands and Germany, whose model is based on quality care and a close partnership with dentists. In July 2021, Florac took a minority stake alongside the founders in order to support the growth and structuring of the group.

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M2 Orthopedics (“M2O”) is a leading orthopedic platform partnering with best-in-class providers of orthopedic care and integrated ancillary services. The Company includes Anderson Orthopaedic Clinic, a recognized leader in comprehensive orthopedic services, and Harborside Surgery Center, a state-of-the-art surgical facility. In June 2021, Florac partnered with Archimedes Health Investors, The Heritage Group, and The Firmament Group to support M2O's mission of enabling the nation's top orthopedic surgeons to focus on delivering exceptional patient care.

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Founded in 2010, Califia is a leading brand of plant-based milks, coffees, and other beverages. In May 2021, Florac took a minority stake in the business in partnership with Ambrosia Investments with the aim of supporting the Company’s ambitious growth strategy in the US and abroad.

Unio Health Partners (“UHP”) is a physician services platform with the goal of transforming urology, gastroenterology, and radiation oncology care delivery across California. UHP partners with leading physician practices, creating a cohesive, quality-oriented clinical culture and facilitating best practice sharing across the platform. With financial backing from Florac, Beach Point Capital Management, and Triton Pacific Capital Partners, UHP is positioned to partner with top providers and empower them to deliver the highest quality care to patients.

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Founded in 2002 by Franck Papazian, the MediaSchool group, the French leader in private higher education and continuing education, brings together nearly 40 schools located in 17 cities in France and abroad. These schools welcome over 10,000 students each year. In May 2020, Florac invested in MediaSchool, alongside its founder Franck Papazian and other financial investors in order to support development through organic growth (launch of new verticals) and external growth and to support the structuring of the group.

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Founded in 2001 by a group of experienced entrepreneurs, Salto Systems is a global leader in electronic access control. The group's solutions include electronic locks, identifiers (smartphone applications, smartphone applications, badges, contactless bracelets, etc.) and proprietary software allowing secure, configurable, fluid and economical access to all types of rooms or buildings. In October 2020, Florac took a minority stake alongside the founders and other financial investors, which allowed the group to acquire Gantner, an Austrian competitor specializing in access solutions for sports, leisure and education infrastructures (e.g. electronic lockers, cashless payment, ticketing).

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Founded in 1995, Herez is a leading independent provider of wealth management services in France. In July 2020, Florac took a minority stake in the business alongside its founders to support the growth of the Company and its core obsession with best-in-class customer service. During Florac’s hold period, the Company completed 18 acquisitions and tripled its size via geographic expansion, the entry into new customer segments, and the launch of new service offerings. In April 2024, Herez merged with Cyrus to form the leading player in private wealth management in France (more than 500 employees and €16 billion in assets under management).

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Prime AE provides a full range of services in the architecture and engineering, construction management and inspection, transportation, and water resources sectors. In December 2019, Florac took a minority stake in the business alongside controlling shareholder NewHold Enterprises, a long-term holding company and direct investment platform.

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The Marle Group is a major supplier to the orthopedic industry with over 50 years of experience, offering advanced manufacturing technologies for orthopedic implants and instruments. In December 2019, Florac invested in the Marle Group alongside Dentressangle Capital, majority shareholder, IK Investment Partners and managers in order to support its development, geographic expansion and strengthen its leadership.

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Founded in 2019, Sperber Companies offers a comprehensive range of landscape services across the United States, including the maintenance, design, and installation of turnkey commercial projects. In 2019, Florac joined forces with other financial investors in order to support Richard Sperber in setting up the group, structuring teams and developing the group, in particular through external growth.

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Founded in 1987 by Jean Touitou, Atelier Production Création (A.P.C.) is a Parisian ready-to-wear brand positioned in the “Accessible Luxury” segment. In August 2018, Florac took a minority stake through the Vesper vehicle in order to support the group in its ambitious national and international growth strategy.

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Created in 1986 by Guy Delcourt, the Delcourt Group is the first independent publisher of French-language comics and the third largest comic book group in France, publishing more than 700 new releases per year. In June 2018, Florac joined forces with founder Guy Delcourt with the aim of accelerating development projects (organic and external) and consolidating the group's national leadership position. Florac sold its stake in 2024 as part of the takeover of the Delcourt group by Editis.

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Founded in Annecy, France in 1952, Fusalp is an iconic skiwear brand that has outfitted champion athletes including the Goitschel sisters and Jean-Claude Killy as well as recreational skiers alike. In 2013, Sophie and Philippe Lacoste acquired the Company with the aim of relaunching the Fusalp name into a premium fashion and technical brand, present both on the mountain and in town. In May 2018, Florac and other investors joined existing shareholders in supporting the strong development of the brand and its operations.

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Stepping Stones Group (“SSG”) offers therapy and specialized education solutions for K-12 students across the United States. Florac invested in SSG in April 2018 as a minority investor alongside controlling shareholder Five Arrows Capital Partners to support the growth and optimization of the business and its operations. Florac exited its stake in 2021 as part of the Company’s sale to Leonard Green & Partners.

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Created in 2012, Bricoprive.com is the main French private sales site specializing in DIY, gardening and home improvement (BtoB and BtoC). Florac invested in Brico Privé in April 2018, alongside the two co-founders Julien Boué and Marc Leverger, of Ardian and Kartesia, in order to support strong growth in France, support international development and support the structuring of the group. Florac sold its stake in October 2020 as part of the takeover of the Brico Privé group by Les Mousquetaires/InterMarché.

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Founded in 2015 by Guillaume Foucher and Frédéric Biousse, former director of the SMCP Group, of which Florac was a majority co-shareholder, Les Domaines de Fontenille is a collection of boutique hotels aimed at creating a new hotel concept combining French lifestyle, gastronomy and elegance in exceptional locations. In December 2017, Florac joined forces with the founders in order to support the ambitious development plan in France and internationally and the structuring of the group.

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Cypress Performance Group (CPG), created by the merger between IPS Corporation and Encapsys LLC, is an industrial group that manufactures and distributes specialty chemical products with recognized expertise in microencapsulation. In March 2017, Florac partnered with Sherman Capital Holdings LLC as part of the acquisition by Encapsys LLC of IPS Corporation in order to accelerate the group's development.

Florac exited its stake in late 2021 in conjunction with the sale of IPS and Encapsys to Centerbridge Partners and Milliken & Co., respectively.

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Founded in 1966, PADI (Professional Association of Diving Instructors) is the most recognized scuba diving training and certification organization in the world. The Group has a network of more than 130,000 instructors and 6,300 diving centers and resorts in nearly 180 countries.
In April 2017, Florac invested in the PADI group alongside other family offices with the aim of strengthening the group's global leadership position and supporting its geographical expansion and the digitalization of its offer.

Florac exited its position in 2025.

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Grandi Stazioni Retail holds the exclusive long-term concession for the operation of the commercial and advertising spaces of the 14 main Italian train stations (e.g. Milano Centrale, Roma Termini). In total, GSR stations welcome more than 800 million visitors per year. In 2016, Florac supported Maurizio Borletti and his BGSH structure in the acquisition of GSR alongside the Antin Infrastructures and ICAMAP Advisory funds with the objectives of structuring the group, professionalizing the various businesses, implementing an ambitious program to rehabilitate and improve the customer experience and making the best use of the flow of visitors who travel through the stations on a daily basis. Florac sold its stake in 2024, as part of the takeover of the group by the Omers and DWS funds.

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Founded in 2016, Samson and Surrey is a high-end craft spirits group, mainly active in the American market, owning and operating the brands Widow Jane (bourbon), Tequila Ocho, FEW (bourbon), FEW (bourbon), Bluecoat (gin), Bluecoat (gin), Vago Mezcal and Brenne (whiskey).
In 2016, Florac joined forces with other family investors in order to support the founding directors in setting up the group, structuring teams and developing the brand portfolio, in particular through external growth.
Florac sold its stake in February 2022 as part of the takeover of the group by Heaven Hill, an independent American spirits group.

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Founded in 2016, Experienced Capital (ECP) is an operational investment company dedicated to high-potential premium brands. The brand portfolio includes Jimmy Fairly, Sessùn, Sœur, Balibaris, Le Slip Français, Figaret, BAM Karaoke, NV Gallery and L:a Bruket.
Florac is the main investor in ECP and has supported Frédéric Biousse, Elie Kouby and Emmanuel Pradère, the founders of ECP and former managers of SMCP Group, in which Florac was a co-majority shareholder, since the launch of ECP.

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Sani/Ikos is a hotel group that owns and operates luxury resorts in the Mediterranean that operate under the Sani Resort and Ikos Resorts brands. The Group operates more than 3,500 rooms and suites in 12 unique complexes in Greece, Spain and Portugal.
In December 2015, Florac invested in the Sani/Ikos group alongside the two founders and other financial investors (Oaktree, Goldman Sachs) in order to bring the Sani and Ikos brands together and accelerate development in the Mediterranean region through organic and external growth. Since then, the Sani/Ikos group has become the first hotel group specializing in luxury seaside resorts in the Mediterranean.
Florac sold its stake in September 2022 as part of the takeover of the Sani/Ikos group by the Singaporean sovereign wealth fund GIC.

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St. Mamet is a leading producer of fruit-based products in France. In September 2015, Florac acquired the business through a complex carve-out transaction alongside a new management team. During its hold period, Florac oversaw the launch of new products, the expansion of new sales channels, and the modernization of the Company’s operations. In July 2018, the business was sold to an investor supported by one of the primary French players in canned vegetables.

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TCR Group is the European leader in the rental and maintenance of ground assistance equipment for airport areas.
In August 2012, Florac acquired a minority stake alongside the Chequers Capital fund and the group's managers with the aim of continuing the strong development of the group in Europe and initiating development in Asia and the United States, in particular through fleet conversion operations.
Florac sold its stake in 2016, as part of the takeover of the group by the 3i Infrastructure and DWS funds.

The SMCP Group is a French “Accessible Luxury” ready-to-wear group that owns the aspirational brands Sandro, Maje and Claudie Pierlot.
In September 2010, as part of the creation of the SMCP group, Florac and L Capital took control of the group alongside the founders and artistic directors of the Sandro and Maje brands and their managers Frédéric Biousse and Elie Kouby, with the objective of supporting the structuring of the group and accelerating the deployment of the network of points of sale in France and Europe and to initiate extra-European development. Florac sold its stake in 2013, as part of the takeover of the group by the investment fund KKR.

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Founded in 1989 by Christian Terrassoux, Pitch Promotion is a major player in real estate development in France, focusing on office and residential properties in the Paris, Lyon, Marseille, and Toulouse regions. In February 2009, Florac subscribed to a capital increase to support the Company’s growth and new real estate development projects. Florac sold its stake in 2016 as part of the takeover of the business by Altarea Cogedim.

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