Paris, May 27, 2025 – AfricInvest Europe announces the exit of the Franco-African Fund from Mathevon, a leading French industrial company specializing in high-precision machining.
Founded in 1949 in Saint-Étienne, Mathevon is a global industrial player focused on the precision manufacturing and treatment of safety-critical mechanical components produced in small and medium series. The company serves demanding sectors such as oil, gas, petrochemicals, and more recently, nuclear energy. Known for its expertise in machining superalloys like Inconel and Stellite, and in applying wear- and corrosion-resistant coatings, Mathevon designs custom components for extreme industrial environments (high pressure, corrosive conditions, and extreme temperatures).
In December 2018, AfricInvest Europe joined Mathevon’s capital alongside Siparex, Arkéa Capital, and BNP Paribas Développement as part of a financial consortium. This investment enabled the company to strengthen its structure, enhance its financial capacity, and expand internationally.
To meet growing customer demand, Mathevon has significantly expanded its global footprint, including the launch of two manufacturing facilities in Saudi Arabia and Malaysia, while also reinforcing its long-standing operations in Tunisia. The Group has successfully diversified into the nuclear sector, all while maintaining its global leadership position in a niche segment of safety-critical parts for the oil & gas industry.
Today, Mathevon operates six production sites and employs over 500 people. In 2024, the company reported €88 million in revenue, 90% of which was generated internationally, and maintains an EBITDA margin of around 15%.
Sébastien Jerinte, CEO of Mathevon, commented: “AfricInvest was a particularly strong partner during the Covid crisis, supporting the continuity of our operations in Tunisia. Since then, the Group has continued to expand its production capabilities, especially across Asia and the Middle East.”
Stéphane Colin and Khaled Ben Jennet, Partners at AfricInvest Europe, added: “Our longstanding presence in Africa, particularly in Tunisia, enabled us to support Mathevon’s teams in both France and Africa, across their industrial development on the continent and their commercial growth internationally.”
A Follow-On to a Successful 2022 Transaction
An intermediate transaction in summer 2022 allowed the management team to increase its ownership, welcomed Bpifrance into the capital, and supported a recapitalization led by the existing banking pool. At that time, the financial consortium executed a first significant partial exit. Mathevon’s revenue grew from €34 million in 2018 to €42 million in 2021.
This operation gave the Group the means to pursue its ambitious growth strategy, which included new product accreditations and the establishment of additional industrial sites in Asia and the Middle East.
A Capital Raise Backed by Reputable Partners
Mathevon is now entering a third investment round with Montyon Capital, backed by two family offices—one based in Switzerland and the other being Otium Capital. This marks their first investment together.