{"id":57312,"date":"2026-03-26T18:12:19","date_gmt":"2026-03-26T17:12:19","guid":{"rendered":"https:\/\/editing.capitalmind.com\/?post_type=deals&p=57312"},"modified":"2026-03-31T15:12:00","modified_gmt":"2026-03-31T13:12:00","slug":"lbo-de-sdag-adhesifs-soutenu-par-innovafonds-et-bpifrance","status":"publish","type":"deals","link":"https:\/\/editing.capitalmind.com\/fr\/deals\/lbo-de-sdag-adhesifs-soutenu-par-innovafonds-et-bpifrance\/","title":{"rendered":"LBO de SDAG Adh\u00e9sifs soutenu par InnovaFonds et Bpifrance"},"content":{"rendered":"\n

Investec a conseill\u00e9 les actionnaires de SDAG Adh\u00e9sifs dans la structuration d\u2019une nouvelle op\u00e9ration de LBO soutenue par InnovaFonds et Bpifrance<\/strong><\/p>\n\n\n\n

A propos du deal<\/h2>\n\n\n\n

Fond\u00e9e en 1985 et bas\u00e9 \u00e0 Weyersheim (Alsace), SDAG Adh\u00e9sifs est le leader fran\u00e7ais de la distribution de consommables pour les professionnels de la communication visuelle et de la signal\u00e9tique. Le Groupe s’appuie sur trois implantations en France (Weyersheim, Nantes, Paris) et deux \u00e0 l’international (Suisse, Belgique), ainsi que sur des partenariats forts avec les plus grands fabricants mondiaux de solutions adh\u00e9sives (ORAFOL, 3M, MACTAC\u2026) compl\u00e9t\u00e9s par sa marque propre : SD M\u00e9dias.<\/p>\n\n\n\n

Avec pr\u00e8s de 50 M\u20ac de chiffre d’affaires, SDAG Adh\u00e9sifs conna\u00eet une dynamique de d\u00e9veloppement soutenue et continue depuis sa cr\u00e9ation, port\u00e9e par la fid\u00e9lit\u00e9 de ses clients, la qualit\u00e9 de son offre combin\u00e9e \u00e0 une approche de conseil technique reconnue et une forte r\u00e9activit\u00e9. Le Groupe a su b\u00e2tir une position de leader en France en misant sur la profondeur de sa gamme, compos\u00e9e de plus de 12 000 r\u00e9f\u00e9rences, et l’excellence de son service client. SDAG Adh\u00e9sifs a en particulier connu un changement d\u2019\u00e9chelle significatif depuis l\u2019entr\u00e9e au capital de Siparex en 2021, avec un quasi doublement de son chiffre d\u2019affaires, gr\u00e2ce \u00e0 une croissance organique soutenue en France et dans les pays limitrophes, au d\u00e9veloppement important de la marque propre SD M\u00e9dias, ainsi qu\u2019\u00e0 la r\u00e9alisation de 3 acquisitions.<\/p>\n\n\n\n

Afin d’acc\u00e9l\u00e9rer le d\u00e9veloppement du Groupe, Didier Hariot et Bertrand Delhoume ont choisi de s’associer \u00e0 InnovaFonds et Bpifrance pour les accompagner dans une nouvelle phase de croissance. Cette r\u00e9organisation actionnariale permet \u00e0 Didier Hariot de conserver la majorit\u00e9 du capital, \u00e0 Bertrand Delhoume de renforcer significativement sa position au capital, et \u00e0 Siparex Midcap, actionnaire depuis 2021, d\u2019acter sa sortie. Pour ce nouveau chapitre, le Groupe ambitionne d’acc\u00e9l\u00e9rer son d\u00e9veloppement \u00e0 l’international, de poursuivre l’enrichissement de son offre et d’explorer des opportunit\u00e9s de croissance externe, dont certaines sont d\u00e9j\u00e0 \u00e0 l\u2019\u00e9tude.<\/p>\n\n\n\n

Notre r\u00f4le<\/h2>\n\n\n\n

Investec a accompagn\u00e9 les actionnaires de SDAG Adh\u00e9sifs tout au long du processus de cession : <\/p>\n\n\n\n

    \n
  • D\u00e9finition de la strat\u00e9gie et du calendrier de l’op\u00e9ration, <\/li>\n\n\n\n
  • D\u00e9finition de l\u2019equity story<\/em>, <\/li>\n\n\n\n
  • R\u00e9daction de la documentation marketing, <\/li>\n\n\n\n
  • S\u00e9lection des investisseurs financiers les plus \u00e0 m\u00eames de valoriser le positionnement de l\u2019entreprise et d\u2019accompagner son d\u00e9veloppement, <\/li>\n\n\n\n
  • Formalisation du business plan avec le management, <\/li>\n\n\n\n
  • Pilotage des due diligence<\/em>, <\/li>\n\n\n\n
  • Lev\u00e9e du financement bancaire, <\/li>\n\n\n\n
  • Organisation d\u2019un processus de vente comp\u00e9titif, <\/li>\n\n\n\n
  • Gestion des n\u00e9gociations jusqu\u2019au closing.<\/li>\n<\/ul>\n\n\n
    \n
    \n
    \n
    \n \"\"\n <\/div>\n \n
    \n \u201c\u201d<\/span>\n\n

    Apr\u00e8s une premi\u00e8re op\u00e9ration r\u00e9alis\u00e9e de gr\u00e9 \u00e0 gr\u00e9 avec Siparex en 2021, nous avons eu le plaisir de travailler avec les \u00e9quipes d’Investec qui nous ont pr\u00e9par\u00e9s \u00e0 notre op\u00e9ration de LBO secondaire. L’\u00e9quipe a fait preuve de p\u00e9dagogie, de souci du d\u00e9tail et d’un engagement important pour nous aider \u00e0 construire une belle op\u00e9ration. C’est une exp\u00e9rience r\u00e9ussie que nous serons ravis de renouveler !<\/p>\n<\/div> \n\n – Didier Hariot, Pr\u00e9sident, SDAG Adh\u00e9sifs<\/cite>\n <\/blockquote>\n <\/div>\n <\/div>\n<\/section>\n\n\n

    \n
    \n
    \n
    \n \"\"\n <\/div>\n \n
    \n \u201c\u201d<\/span>\n\n

    L\u2019\u00e9quipe\u00a0Investec s\u2019est tr\u00e8s rapidement appropri\u00e9e les sp\u00e9cificit\u00e9s de notre activit\u00e9. Le processus de transaction a \u00e9t\u00e9 conduit avec rigueur, tout en respectant pleinement le calendrier fix\u00e9. Investec a su coordonner l\u2019ensemble des parties prenantes avec efficacit\u00e9, en veillant scrupuleusement au respect du cahier des charges d\u00e9fini. Pour toutes ces raisons, je recommande vivement de faire appel \u00e0 leurs services.<\/p>\n<\/div> \n\n – Bertrand Delhoume, Directeur G\u00e9n\u00e9ral, SDAG Adh\u00e9sifs<\/cite>\n <\/blockquote>\n <\/div>\n <\/div>\n<\/section>\n\n\n\n

    <\/p>\n","protected":false},"excerpt":{"rendered":"

    Investec a conseill\u00e9 les actionnaires de SDAG Adh\u00e9sifs dans la structuration d\u2019une nouvelle op\u00e9ration de LBO soutenue par InnovaFonds et…<\/p>\n","protected":false},"featured_media":57313,"template":"","dt":[],"sector":[3705],"dealtype":[16633,3706,3718,3740],"clienttype":[3729,3720],"class_list":["post-57312","deals","type-deals","status-publish","has-post-thumbnail","hentry","sector-business-services-fr","dealtype-mbo-fr","dealtype-cession-fr","dealtype-debt-advisory-fr","dealtype-capital-dev-fr","clienttype-entrepreneurs-fr","clienttype-pe-fr"],"acf":[],"yoast_head":"\nLBO de SDAG Adh\u00e9sifs soutenu par InnovaFonds et Bpifrance | Investec Business Advisory<\/title>\n<meta name=\"description\" content=\"Investec a conseill\u00e9 les actionnaires de SDAG Adh\u00e9sifs dans la structuration d'un LBO secondaire soutenu par InnovaFonds et Bpifrance.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, 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