Go to deals
Business Support Services | TMT

AFSO, BV L’objet Media and LAGARDERE France have merged and become Synneo

The shareholders of AFSO have approached and conducted negotiations to create the optimal conditions for a merger of equals with BV L’objet Media and LAGARDERE France. Team’s

Founded in 1998 and headquartered in Toulouse, France, AFSO is a leading company engaged in marketing corporate promotional gifts and items, covering various clients’ needs, such as bonuses, sales stimulus, loyalty, incentives and business gifts. The company specializes in customized products while also managing a permanent catalog. AFSO has a fully integrated value chain, from product design to sourcing and distribution. It has also developed expertise in B2C, providing design, administration and operation of e-commerce websites for corporate clients with strong brands. AFSO is the exclusive supplier of Airbus promotional items and operates its e-shop.

The merger of AFSO with French peers BV L'objet Media and LAGARDERE France is part of a strategy initiated two years ago, following the fundraising of approximately US$5 million carried out with iXO Private Equity. This leads to the creation of a new group named Synneo which will unify the strength of three renowned players with complementary activities. The new group will be led by managers from the three companies and will offer a new synergy of skills and teams promoting the design of exclusive, responsible, innovative and high value-added products and services.

David and Elie Maman, managers of AFSO, have developed the company for more than 20 years. They have been supported by French Private Equity Fund IXO since July 2020.

Oaklins’ team in France acted as advisor to AFSO to identify, contact, conduct and negotiate deal terms to make this balanced transaction possible for all three companies.

Service
Corporate finance services
Parties
“In line with the growth strategy initiated in 2020, this merger of equals is a wonderful opportunity to take leadership of the French promotional items market. During this deal, we have been advised again by Oaklins which, with their experience and kwow-how, made this transaction possible.”

David and Elie Maman

CEO, AFSO

Talk to the deal team

 Xavier  Auvergnat

Xavier Auvergnat

Partner
Toulouse, France
Oaklins France
 Raphaël  Petit

Raphaël Petit

Partner
Toulouse, France
Oaklins France
 Nelly  Guillot

Nelly Guillot

Director
Toulouse, France
Oaklins France
 Alexandre  Mantion

Alexandre Mantion

Associate
Toulouse, France
Oaklins France
 Théo  Cavalière

Théo Cavalière

Analyst
Toulouse, France
Oaklins France

Related deals

Aareon AG has sold phi-Consulting GmbH to the management team
Private Equity | TMT

Aareon AG has sold phi-Consulting GmbH to the management team

Aareon AG has sold phi-Consulting GmbH to the company’s management team.

Learn more
Nova Consulting Group becomes majority shareholder in Egde Consulting
Private Equity | TMT

Nova Consulting Group becomes majority shareholder in Egde Consulting

Nova Consulting Group AS (NOVA) has become the new majority owner of Egde Consulting AS (Egde). With the acquisition, NOVA will significantly improve its foothold in the Norwegian market. The founders and existing employee-shareholders of Egde will retain a significant part of their shareholding in the company and the new ownership model will give all employees in Egde the opportunity to take part in the long-term value creation as co-owners of the company.

Learn more
HE Space has been acquired by CS Group
Aerospace, Defense & Security | Business Support Services | TMT

HE Space has been acquired by CS Group

With this acquisition, CS Group increases its European presence in space to nearly 800 employees. The group would thus strengthen its installed base in the Netherlands, Germany and France and expand its development prospects in Spain and the UK. This acquisition will ensure a stronger presence with institutional organizations such as ESA’s ESOC and ESTEC agencies, EUMETSAT and industrial companies such as Airbus, Thales and OHB.

Learn more