• The transformation fund will help French SME executives drive strategic and operational transformation
• The team is a blend of seasoned investors and operational managers with more than 20 years on average of relevant expertise
• Aldebaran is ideally positioned to support efforts to stimulate the French economy

Founded in 2020, Aldebaran today announced the first closing of its maiden investment vehicle, Aldebaran Transformation Fund I (the “Fund”). The Fund welcomes high-profile investors such as Bpifrance, the European Investment Fund, AG2R LA MONDIALE, as well as French entrepreneurs and family offices.


The Fund will support SME executives as they transform their companies

Amélie Brossier, founder of Aldebaran, was determined to infuse human qualities into corporate transformation investments. Consequently, Aldebaran was established to support executives of small-and-mid-sized companies as they navigate through strategic and operational changes. Having already successfully managed some 20 transactions involving complex situations as one of France’s few experts in the field, Amélie (Cinven, Bpifrance, FCDE) has teamed up with other transformation experts who have both corporate and investment experience:

• François Darpas, Managing Partner of Aldebaran, in charge of the team responsible for creating operational value. Former HR Director of the CNIM group, François combines 30 years of experience in industry (CNIM, Protex International) and consulting (Balthazar, EY, REL Consultancy); and
• David Kusters, Director. David has international experience and dual proficiency in private equity (Alpha, Egeria, 3i) and consulting (Booz & Company).

“France has a rich fabric of small-and-mid-sized companies. A large number of these have sound fundamentals and high potential, but their development is hindered by complexities that traditional private equity funds have neither time nor operational resources to handle. Our mission is to help these companies overcome these challenges and put them back on track to lasting, profitable growth. Human capital is critical to conduct effective execution. We are honoured that major investors have placed their trust in us and pleased with the good fundraising momentum making our vision a reality,” said Amélie Brossier, CEO and Founding Partner of Aldebaran.

The team will be expanded after this initial closing with identified professionals, including a new Partner. It also benefits from the expertise and the network of former Cinven Senior Partner Nicolas Paulmier, who holds the position of Senior Advisor and Chairman of Aldebaran’s Investment Committee.


Majority stakes in sound companies facing complex challenges

Aldebaran targets investments in small-and-mid-sized companies with sound fundamentals and high potential for growth and earnings with revenue ranging from €20 to 300 million and may be faced with under-performance or complexities related to their market, business model, corporate governance or balance sheet structure. These instances of underperformance are usually transitory and tied to a change in strategy or direction, a complex carveout from a large group, succession in a family-owned business or a transformative market consolidation.

The Fund will make direct investments of €15-60 million and may selectively evaluate larger opportunities with coinvestors. Aldebaran intends to position itself as a majority shareholder that is aligned and supportive of the management team.


A new model for investing in corporate transformation

Helping companies face complexities and transform themselves over the long term requires more than capital. It requires time, a real understanding of the strategic and managerial challenges the company faces and the ability to win the confidence of its executives. Aldebaran has refined a method for creating value based on building a tailormade transformation journey in close collaboration with the management team of each company, with native integration of ESG topics.

Aldebaran has two complementary full-time teams that work together in a fully integrated manner through the entire investment process. One team is dedicated to investing, and the other to supporting value creation, so that every company in the Fund can benefit from both financial and operational value add during Aldebaran’s ownership.

“Our hybrid financial and operational culture gives us an excellent understanding of both environments and enables us to efficiently help companies unlock their full potential,” said François Darpas, Managing Partner of Aldebaran.

A network of Ambassadors complements the Fund’s array of services, providing expertise in all of the areas necessary to make their transformation successful.