Argos, BNP Paribas Développement, and Société Générale Capital Partenaires acquire minority stakes in Zodiac Milpro to support innovation and international growth
Type: Investment · Technology: Defense · Country: France · Announced: 2026-05-06
Argos, an independent European private equity group, alongside BNP Paribas Développement and Société Générale Capital Partenaires, acquired minority stakes in Zodiac Milpro to support the company's innovation roadmap and international expansion. The transaction strengthens Zodiac Milpro's shareholder base, which already includes Argos as majority shareholder since 2018 and the management team, providing additional long-term resources and expertise. Zodiac Milpro operates in a structurally growing defense and security market, with revenue more than doubling over the last five years to reach €120 million, 90% generated internationally. The Group's growth strategy focuses on innovation, portfolio expansion, and international development, including production sites in Spain, Canada, Germany, Australia, and the United States. The investment follows Zodiac Milpro's May 2025 refinancing of its unitranche debt and repurchase of shareholder bonds, strengthening its financial structure to support continued growth.
Counterparties
- Coruscans (Advisor Buy)
- BNP Paribas Développement (Investor)
- Eight Advisory (Advisor Buy)
- Arsène Taxand (Advisor Buy)
- Houlihan Lokey (Advisor Buy)
- Lerins (Legal Buy)
- Natixis Partners (Advisor Buy)
- Argos Wityu (Investor)
- Jeausserand Audouard (Advisor Buy)
- Oliver Wyman (Advisor Buy)
- Zodiac Milpro (Borrower)
- Gibson Dunn (Legal Buy)
- Société Générale Capital Partenaires (Investor)
- Argos (Investor)
- Oderis (Advisor Buy)