Sienna IM Completes Three Private Debt Financing Deals for the Defense Industrial and Technological Base

Launch and Scope of Sienna IM's Private Debt Financing Strategy

Sienna IM's private debt financing strategy was launched in September 2025. It is endowed with more than 270 million euros in commitments from investors. It includes Sienna Hephaistos, an institutional fund, and Sienna Private Debt Defense Europe, a closed fund approved as ELTIF 2 accessible to savers through life insurance and savings schemes (Meilleurtaux Placement, La France Mutualiste, UAF-LIFE Spirica, ERES, Linxea). Eventually, it will constitute a portfolio of 30 to 40 companies, with tickets ranging from 5 to 20 million euros. The financing covers needs for ramping up, modernizing production tools, strengthening working capital, and funding external growth projects.

Details of the Financing Operations

First operation: a financing of 7 million euros was granted to Turgis Gaillard, founded in 2011, operating in civil and military aviation and industrial and military operational maintenance. This overall refinancing supports the adaptation of the financing structure, organic growth, and the development of military equipment programs, including the production and marketing of the Aarok drone (which made its first flight in September 2025) and a joint project with Renault for the construction of military drones. Second operation: a financing of 11.8 million euros was granted to Spherea, founded in 1965, operating in electronic and automatic test solutions for aviation and defense. This financing, as part of a syndicated operation, allows the acquisition of the Canadian company Averna and the refinancing of existing debt. Third operation: financing was granted to a pioneering young actor in high-performance and low-consumption microprocessors.