CAPZA has acquired a minority stake in Respire

June 2026 — CAPZA has acquired a minority stake in Respire, with the founders retaining a majority stake, supporting the company’s next phase of development and its plans for innovation, product expansion and international growth.

CAPZA is a European private investment platform focused on small and mid-cap companies. Founded in 2004 and headquartered in Paris, the firm invests across several complementary strategies, including private equity, private debt and transition and growth capital. Within private equity, CAPZA makes both majority and minority investments, while its private debt activities include senior and unitranche financing. This diversified investment platform enables CAPZA to provide tailored capital solutions and support companies across different stages of development.

Respire is a French natural hygiene and beauty brand founded in 2018 by Justine Hutteau and Thomas Méheut. The idea for this next-generation dermocosmetics business emerged after Hutteau discovered a benign tumor in her twenties and began questioning the ingredients in everyday products. Respire launched with a natural deodorant funded through a crowdfunding campaign, which quickly became one of the most successful in France. The company is also gaining significant momentum in the facial skincare market, particularly in technically demanding segments such as sun protection, blemish treatment and radiance.

Our role in the transaction

Oaklins’ team in France acted as the buy-side advisor to CAPZA in this transaction.