Fostering sustainable value creation alongside talented entrepreneurs
The Expansion team partners with talented entrepreneurs running mid-sized companies across the major Western European economies. Drawing on 20 years’ experience in this segment, our team supports them with a pragmatic, customized approach as they accelerate their growth plans and confront their strategic challenges. We take a mid- to long-term perspective and build partnerships that create sustainable value for all stakeholders.
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$8Bn
of assets managed or advised
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36
investment professionals in 3 offices
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80+
investments in past and current portfolio companies
Our strategy
Growing mid-size companies in all sectors
Our strategy is to invest in mid-size companies with Enterprise Values ranging from €100M to €500M. We target businesses with an established position in their home market, strong revenue growth and robust margins. The Ardian Expansion team will leverage its accumulated experience in 4 key sectors (IT & Technologies, Business Services, Healthcare and Value-Added Industrials) to identify leading niche players and acquire them at reasonable valuations.
Major Eurozone economies
The team mainly invests across the major Eurozone economies (France, Germany, Italy, Austria, Belgium, the Netherlands and the Iberian Peninsula), as well as in Switzerland.
A mid to long term shareholder
We take a mid- to long-term perspective, typically holding our investments for 4 to 6 years, and partner with entrepreneurs, founding families or financial investors to foster sustainable value creation. As a majority or minority (with strong governance rights) shareholder, we have the flexibility to support family succession, an exit by financial sponsors or spin-offs.
Ardian & Deli Home | A success story in sustainable wood products
In this video, Eugène Sterken sits down with Florian Haas, Managing Director in the Expansion team at Ardian, to reflect on their journey, from scaling the Buy & Build strategy to advancing ambitious ESG goals, such as sourcing 100% certified wood and pursuing zero greenhouse gas emissions throughout the entire value chain.
The Team
Ardian Expansion has a team of 36 investment professionals based in France, Germany, and Italy, sharing incentive in a common European fund. Our 10 Managing Directors have worked together for 15 years, building a strong team culture and long-lasting professional relationships.
"Management teams want local partners, but as they look to build on their domestic strength they also want a platform for international growth. Offering both is a powerful combination."
Member of the Executive Committee, Managing Director of Ardian France & Head of Expansion
Head of Expansion Germany
Head of Expansion France
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Senior Investment Manager
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Analyst
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Our portfolio
Syclef Continuation Fund
In 2025, Ardian launched its first Private Equity Continuation Fund for Syclef to support the company's next phase of growth. The Continuation Fund will enable Syclef to further pursue its international expansion and support the refrigeration and air conditioning industries in transitioning to more efficient natural fluids, allowing Syclef’s clients to improve their energy efficiency and reduce environmental impact.
Check out our investment map
Vista Vision & Ardian: Accelerating growth and innovation in ophthalmology
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Expansion Growth stories
Deli Home & Ardian: Building Europe’s digital carpenter through strategic growth and ESG leadership
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Expansion Growth stories
Driving Innovation and Resilience: Insights from Ardian and COROB
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Expansion Growth stories
Driving long-term value and international growth: Insights from Finaxy Group with Ardian
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Expansion Growth stories
Unlocking long-term value with AI: Insights from Ardian and Artefact
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Expansion, Technology & Innovation Growth stories
The AI imperative: rethinking alternative investment
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Technology & Innovation, Infrastructure, Buyout, Expansion, Growth, Ardian Semiconductor Responsible finance Market watch
Driving Expansion and Innovation: Ardian's Strategic Partnership with Technology & Strategy
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Expansion Growth stories
Preparing for an interview to work in Private Equity
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Resource Center, Expansion Testimony
François Jerphagnon and Florian Kluge provide an in-depth analysis of Ardian's successful approach to navigate challenging market conditions. They...
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Expansion, Investor Relations, Ardian Semiconductor Growth stories
Janine Paustian joined Ardian as an intern in 2019. Now a full-time Analyst in Frankfurt in the Expansion team, she helps to convey Ardian’s core...
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Expansion Inside Ardian
Stijn Vandeputte, founder of Trustteam, and Arnaud Dufer, Head of France and Belgium in the Expansion team at Ardian, explain how the former portfolio...
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Expansion Growth stories Responsible finance
Best Fundraising & Investor Relations (Silver)
In Novembre 2025, Ardian was honored with the “Best Fundraising & Investor Relations (Silver)” award at the 2025 Private Equity Exchange Awards.
European Private Markets Fund Manager of the Year 2024
In November 2024, Ardian has won the “European Private Markets Fund Manager of the Year 2024” (AuM of more than €100bn) at the Funds Europe Awards 2024 in London.
European Asset Management Firm of the Year 2024
In November 2024, Ardian has won the “European Asset Management Firm of the Year 2024” at the Funds Europe Awards 2024 in London.
ESG Manager of the Year 2024
In October 2024, Ardian was awarded “IJ Global ESG Asset Manager of the Year,” at the IJ Global Awards 2024.
Grands Prix - Private Equity Magazine
In June 2022, the Expansion team was awarded the prize of best investment fund in the “Mid” category at the Private Equity Magazine “Grands Prix”.
Private Equity Exchange and Awards
In November 2021, the golden prize of Private Equity Exchange and Awards was given to Ardian Expansion in the category Best French Mid & Upper Mid-Market LBO Fund.
Grand Prix Affaires 2018
Ardian received two awards at the Grand Prix 2018 of the Affaires Magazine. The Expansion and Buyout teams were named Best LBO fund with the most external growth in 2017, and Best LBO fund for their support to outperforming ETIs.
Private Equity Exchange Awards 2017
Ardian received 1 Special Distinction Award for the Best French Mid and Upper Mid Cap buyout funds and 4 awards at the Private Equity Exchange & Awards organized by Leaders League.
Our latest publications
Ardian Corporate Brochure
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Ardian 2024 Integrated Report
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Ardian 2023 Integrated Report
Read the report
