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Steliau :
specialist in electronic components

Siparex Mezzanine

sponsorless operation in 2015


Founded in 1992, Steliau (formerly Silfox) is an engineering firm that specialises in the distribution of tailor-made electronic components for use in thermal technology and connectors. It brings together two entities, each experts in their field: Astone Technology, which has been specialising in the electronics sector for over twenty years, and Silfox, which is renowned for its expertise in thermal technology, connectors, and mechatronics. More than just a supplier, Steliau positions itself as an added-value distributor offering highly specific solutions with a wide-ranging capacity for product design that acts as an interface between suppliers’ consultancy firms and end user clients.

Operation Context:

In 2015, the Group, which was then known as Silfox, was experiencing sustained growth, with a turnover of €10 M. With its position in a buoyant market, Silfox Group decided to look for financial partners to accompany its external growth strategy and the reorganisation of its shareholding structure.

Our support.

We invested in Silfox in 2015, alongside another investor in an LBO operation that aimed to ensure the reorganisation of the company’s shareholding structure and accompany it’s external growth strategy.

In 2018, in line with the roadmap, Silfox completed a structuring external growth operation with the buyout of Astone Technology, a specialist in electronic solutions. For this new stage in the company’s growth, Siparex Intermezzo organised the mezzanine financing for the buyout, an emblematic operation of the mezzanine growth strategy, and also provided support to the group in structuring its governance in order to facilitate Astone’s operational integration.

Astone Technology’s complementary expertise allowed Silfox, rebranded as Steliau for the occasion, to expand its product range and create a diversified group that is a leader throughout France in the added-value specialised distribution of electronic components.

In 2019, Siparex Intermezzo sold its shareholding in Steliau after having accompanied it through this important period of growth during which the group’s turnover was multiplied fourfold.


Steliau was Siparex Mezzanine portfolio company. Meet the team in charge of the investment

Philippe DUTHEIL

Partner Siparex Mezzanine


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