Ekkio Capital

What they fund

Ekkio Capital funds European SMEs with turnovers between €10 and €100 million. [1]

• Cheque Size — While specific cheque sizes are not disclosed, the firm manages €500M AUM and has 35 companies, suggesting significant investments. [1]
• Stage — Growth stage, focusing on transformation projects like internationalisation and M&A. [1]
• Sector — Tourism & Leisure, Healthcare & Beauty, Securing & Control, Sustainability. [1]
• Geography — Europe, with examples of US expansion support (FX Shoulder USA). [1]

Credibility: The firm's website details its investment criteria and portfolio. [1]

Investment thesis

Ekkio Capital is an independent private equity firm investing in high-potential growth European SMEs with turnovers between €10 and €100 million. They support transformation projects such as internationalisation, industrial investments, external growth, and organizational strengthening across four specific sectors. [1]

• Sector Specialization — Focuses exclusively on Tourism & Leisure, Healthcare & Beauty, Securing & Control, and Sustainability (Eco-Responsabilité). [1]
• Growth Support — Backs projects involving international expansion, industrial investments, M&A, and organizational strengthening. [1]
• Operational Expertise — Leverages industrial and operational expertise to develop activities, create value, and position companies as sector leaders. [1]
• Long-term Partnership — Emphasizes long-term accompaniment of SME growth, acting as a strategic partner rather than just a financial investor. [1]

Credibility: The firm's own website details its investment criteria, sectors, and value proposition. [1]

Value add

Ekkio Capital provides operational and strategic support to its portfolio companies. [1]

• Operational Expertise — Industrial and operational expertise to develop activities and create value. [1]
• Strategic Support — Assistance with internationalisation, industrial investments, M&A, and organizational strengthening. [1]
• Long-term Partnership — Acts as a 'big brother' with benevolence, experience, and unwavering support. [1]

Fit verdict: Ideal for growth-oriented SMEs in their sectors seeking operational support and strategic guidance for transformation projects.

Founder diligence script:

• What specific operational expertise do you bring to my sector?
• How do you support internationalisation and M&A activities?
• What is your typical involvement in board meetings and strategic decisions?
• Can you provide examples of successful transformation projects you've supported?
• How do you measure and track value creation in your portfolio companies?

Credibility: The firm's website details its value proposition and includes testimonials from portfolio company CEOs. [1]

Portfolio focus

The portfolio clusters around the four stated sectors, with notable companies including Campings.com (Tourism), ThoiryZooSafari (Tourism/Leisure), HEITZ System (Securing & Control), and FX Shoulder (Sustainability/Control). [1]

• Tourism & Leisure — Campings.com, ThoiryZooSafari. [1]
• Securing & Control — HEITZ System, Acceres, Calicéo. [1]
• Sustainability — FX Shoulder. [1]

Credibility: Portfolio companies are explicitly named on the firm's website with testimonials and recent news. [1]

Strategic implications

Ekkio Capital's sector specialization allows for deep expertise and value creation in specific industries. The firm's operational focus differentiates it from purely financial investors. The recent fund closure indicates confidence in the European SME growth market. The firm's long-term approach aligns with the needs of growth-oriented SMEs.

Where they could go further

Expand sector coverage to include adjacent industries. Develop a more structured approach to measuring and communicating value creation. Increase transparency around fund performance and exits. Enhance digital capabilities to support portfolio companies.