Less than six months after SPE Capital investment, Oury-Guye et Fils (OURY-GUYE) has completed its first build-up with the acquisition of Société Marnaise d'Applications Orthopédiques (SMAO)

January 10, 2023

Nogent, January 10, 2023

With the support of SPE Capital, OURY-GUYE strengthens its position in the surgical instrumentation sector with the acquisition of SMAO, a company specializing in the production of cutting tools, drills and ancillary equipment.

Based in Nogent in the Haute-Marne region, OURY-GUYE is a century-old medical device company, a member of the French Fab and a French Living Heritage Company (E.P.V.). With the investment of SPE Capital in September 2022, OURY-GUYE aims to position itself as a strategic partner in medical instrumentation in France and internationally.

Over the past 20 years, SMAO has developed a unique expertise in the manufacturing of cutting instruments (cut rasps, rasp holders, cutting guides, saw blades, etc.), drills and reamers.

The combination of OURY-GUYE and SMAO will allow the new group to better serve its customers by providing improved services and by offering a wider range of instrumentation able to meet the requirements of the market.

Our ambition:

  •  Continue to provide exceptional products and service to our clients.
  • Accelerate our growth in the global market with an expanded product offering.
  •  Increase our regulatory control, product development and manufacturing potential.
  • Cultivating our know-how for the continuous training of our teams.
  •   Protecting our planet through responsible manufacturing.


Jean-Luc Chappuis, President of SMAO, comments: “After all these years of building an offer recognised by the orthopaedic industry, developing a team and state-of-the-art industrial resources, I am pleased today to open a new chapter by participating in the creation of this project in which the association with OURY-GUYE will give rise to a larger strategic partner in instrumentation. 

I am confident in the ability of the new shareholders to lead this ambitious project, in the continuity of our know-how, to better serve our customers.”

Christian Oury, President of OURY-GUYE, comments: “This acquisition is a natural part of our initial plan to strengthen our global offering in the orthopaedic market. The combination of technologies and the pooling of our systems now positions us as a key partner in orthopaedic instrumentation.”

Georges-Alexandre Ancenys, Managing Partner of SPE Capital, comments: "For us, this acquisition is a logical next step in the creation of an agile and structured group serving the orthopaedic industry.

Above all, I would like to thank and highlight the men and women who have made this association possible, especially Christian Oury and Jean-Luc Chappuis, who have developed, with conviction and energy, recognised companies in their fields and enabled us to create this ambitious project today.”


About SMAO


SMAO (Société Marnaise d'Applications Orthopédiques) is a company founded in 1989 in Villiers-le Sec in Haute-Marne and specialised in the production and marketing of surgical instruments. Over the last 20 years, SMAO has developed a unique expertise in the manufacturing of cutting instruments (cut rasps, rasp holders, cutting guides, saw blades, etc.) drills and reamers. SMAO is ISO 13485 certified.


About OURY-GUYE et Fils


OURY-GUYE et Fils is a century-old medical device company, a player in 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 its position in the development and manufacture of orthopaedic instruments and ancillary equipment. OURY-GUYE's customers include the largest orthopaedic groups in France and abroad.


About SPE Capital

Founded in 2016, SPE Capital is an independent private equity firm with EUR 400m under management. It is present in France in the small-cap segment and in Africa and the Middle East in the mid-cap segment.

The SPE France Small-cap initiative, co-founded and led by Georges-Alexandre Ancenys, André Wagner and Basile Phelipeau, aims to invest in French SMEs with strong potential for transformation and international growth. The investment team brings its know-how to enable SMEs to reach their full potential. This support focuses on three main areas: i) the alignment of the interests of the various key players in the success of the project, ii) operational transformation and iii) the activation of internal and external growth levers.