SPE Capital, in partnership with Tioopo Capital, acquires a majority stake in Oury-Guye et Fils (OURY- GUYE), a leading French manufacturer of orthopedics and spine instruments.

Paris, October 11th ,2022

OURY-GUYE is a century-old company that designs and manufactures high-precision orthopedics and

spine surgical instruments. OURY-GUYE is a member of the French Fab and is a French Living Heritage

Company (E.P.V.). Customers include the largest orthopedics groups in France and beyond.

The transaction marks a new stage for the company founded in 1909. With the support of its new

shareholders, OURY-GUYE's main objective will be to create a center of excellence in orthopedic and

spine instrumentation in France.

Christian Oury, President of OURY-GUYE, stated: "this acquisition is a natural extension of our desire to

continue to offer a strong partnership to our customers. It comes at an important time for our company,

when it is instrumental for its future to unite and perform: OURY-GUYE's DNA. I fully trust the new

shareholders to pursue and succeed in this ambitious project.”

Georges-Alexandre Ancenys, Managing Partner at SPE Capital, commented: "we are delighted to

support the development of OURY-GUYE, a century-old company with strong business expertise, so that

it can further meet the needs of its customers. This will be achieved by increasing the volume of existing

products and offering a more complete range, through acquisitions of complementary know-how in a

still highly fragmented market. We are pleased and honored to join forces with Christian Oury, a

strengthened management team, and all our employees to write this new chapter of OURY-GUYE's

history together.”

The investment in OURY-GUYE is emblematic of the small-cap initiative at SPE France, as it is (i) a

primary transaction, alongside a strengthened management team, to accelerate the company's

development; (ii) a high growth and highly fragmented sector offering external growth opportunities to

expand the product portfolio; and (iii) an ambitious transformation and growth project, in particular

through the upgrading of its industrial facilities, the digitalization of its operations and the strengthening

of the management team.



OURY-GUYE is a century-old medical device company, a member of the French Fab and a French Living

Heritage Company (E.P.V.). Founded in 1909 in Nogent in the Haute-Marne region of France, OURY-

GUYE has established itself as a leader in the development and manufacturing of orthopedics

instruments. OURY-GUYE's customers include the largest orthopedic groups in France and abroad.


About SPE Capital

Founded in 2016, SPE Capital is an independent Private Equity firm with EUR 400m asset under

management. SPE Capital is active in France in the small-cap segment and in Africa and Middle East in

the mid-cap segment. The SPE France Small-cap initiative, co-founded and led by Georges-Alexandre

Ancenys and André Wagner, aims to acquire controlling stakes in French SMEs with high potential for

transformation and international growth. The investment team brings expertise in three main areas: i)

alignment of interests of the various stakeholders, ii) operational transformation and iii) activation of

internal and external growth levers in France and beyond.


About Tioopo Capital

Co-founded in 2021 by Cyril Aboujaoude, Shahan Sarkissian and Grégoire Louisy, Tioopo Capital is a pan-

European investment fund dedicated to SMEs In an entrepreneurial spirit, Tioopo works closely with

management teams to develop and execute their strategic vision.


Parties involved in the transaction:


Investor - SPE Capital: Georges-Alexandre Ancenys, André Wagner; Tioopo Capital : Cyril Aboujaoude,

Shahan Sarkissian and Grégoire Louisy

Champeil: Nordine Iguedjtal

ESG team - SPE Capital: Noura Bakkour

Legal counsel

Racine Nantes: Dominique Tufféry-Kerhervé (partner), Yohan Jabbour-Gédéon (counsel) and Amelia

Penven (lawyer) on corporate/M&A aspects; Dominique Tufféry-Kerhervé (partner) and Ludovic

Souchay (counsel) on tax aspects; Eve Nicolas (partner) and Pierre Barboteau (counsel) on real estate

aspects, and Loullig Bretel (partner) and Constance Bassi (lawyer) on intellectual property aspects.

Majj - social: Julien Boucaud-Maitre (partner) and Nicolas Lavigne (lawyer)



Inextenso: Jérôme Ledig, Marc Sabaté and Guillaume Hoppenot

Legal counsel: Inextenso: Anne-Cécile Jeanniard



André Wagner (awagner@spe-capital.com)