PARIS: A leading player in private equity in France, IDI announced the acquisition of a majority stake in the capital of EXSTO, a French group that is a leader in the high-performance elastomer sector.

Founded in 1976 and based in Romans-sur-Isère, EXSTO specializes in molded and/or machined high-performance elastomer solutions for critical domains.

The group supports its clients throughout the entire value chain, from design/formulation to the production of custom solutions with specific functions (protection and damping, sealing, shape memory, biocompatibility, fire resistance, etc.), to address their complex issues.

Historically specialized in the molding and machining of parts, particularly in polyurethane, EXSTO has gradually diversified through a mix of organic and external growth (5 acquisitions made since 2015), allowing it to acquire complementary expertise, particularly in the manufacture of polyurethane sheets (Chavand) or silicone parts molded by injection, compression, or extrusion (Sterne), and to expand internationally where it generates nearly two-thirds of its turnover.

With its multi-product/multi-material offering, the group serves a deep portfolio of clients (+1,700 active clients) across a variety of market niches in the fields of health (medical devices and consumables), subsea (offshore platforms and wind turbines), automotive (robotized manufacturing chains), and industry (cardboard manufacturing, mining and quarries, special machines, etc.).

Generating €69 million in turnover in 2023, EXSTO employs nearly 360 employees spread over six production sites in France (including 700 m² of clean rooms), in Italy, and Brazil. It also has a commercial office in the United States, as well as two R&D laboratories and three design offices in France. The teams are particularly working on the development of responsible solutions, allowing the group to offer product ranges using recycled materials.

With IDI’s support, the management team intends to accelerate the group’s development, both through organic growth (market share gains through the development of new solutions and the increasing penetration of the materials used) and external growth.

In a still fragmented market, EXSTO wishes to continue its strategy of targeted acquisitions to consolidate its positions in its addressed markets, strengthen itself in promising market niches, and extend its international footprint in Europe and the United States.

Julien Bentz and Augustin Harrel-Courtès, respectively Managing Partner and Associate Director of IDI, declare, “We are delighted with the trust placed in us by Christophe Torres and his teams, and we are very excited about the prospect of working together on the development of EXSTO.

With 5 successful acquisitions since 2015 and numerous existing opportunities, we are convinced of EXSTO’s potential to establish itself as a consolidation platform in a market that remains fragmented. IDI will provide full support, both strategic and financial, to enable the group to accelerate its development by exploring new growth opportunities, both in France and internationally.

This majority transaction is the first announced by IDI since the beginning of the year, and illustrates our desire to support industrial companies in their organic and external development to make them European or global leaders, like Flex Composite Group (sold in 2023 after 8 years of ownership) or Winncare (supported for 10 years in the context of two LBO operations).”

Christophe Torres, President of EXSTO, adds, “For this fifth LBO, the choice of IDI was obvious to us; we share the same convictions, the same strategic vision, and a strong desire to accelerate the development of the group in France and internationally.”

www.idi.fr

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