Go to deals
Private Equity | Business Support Services | TMT

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

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

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 with iXO Private Equity. This has led to the creation of a new group called 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 the 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.

“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 know-how, made this transaction possible.”

David and Elie Maman

CEO, AFSO

Talk to the deal team

Xavier Auvergnat

Partner
Toulouse, France
Oaklins France

Raphaël Petit

Managing Partner
Toulouse, France
Oaklins France

Nelly Guillot

Director
Toulouse, France
Oaklins France

Théo Cavalière

Analyst
Toulouse, France
Oaklins France

Related deals

Haufe-Lexware Real Estate AG has been acquired by Aareon Group, a portfolio company of Advent International
Real Estate | TMT

Haufe-Lexware Real Estate AG has been acquired by Aareon Group, a portfolio company of Advent International

The Haufe Group SE has sold Haufe-Lexware Real Estate AG to Aareon Group.

Learn more
GARAIO has been acquired by Netrics Group.
Private Equity | TMT

GARAIO has been acquired by Netrics Group.

Netrics Group has acquired GARAIO AG as a wholly owned subsidiary. GARAIO will continue to operate as an independent company under the umbrella of Netrics Group. With this acquisition, Netrics Group is further expanding its leading position as a provider of managed cloud and digital workplace solutions as well as consulting services.

Learn more
Doozer Real Estate Systems GmbH has been acquired by Zig Beheer B.V.
Real Estate | TMT

Doozer Real Estate Systems GmbH has been acquired by Zig Beheer B.V.

The shareholders of Doozer Real Estate Systems GmbH have sold the company to Zig Beheer.

Learn more