DDA & Company Research
Advisory Approach
DDA & Company is a Franco-American boutique corporate finance advisory firm founded in 1995, with offices in Paris and New York. The firm operates under the philosophy of "ALL IN"—a commitment to be totally invested in each project, mobilizing expertise to take intelligent risks with clients, while building trust-based relationships. With 30+ years of M&A experience under founder Didier Choix (Wharton graduate), the firm has closed 120+ transactions over the past decade. DDA & Company specializes in cross-border transactions, particularly serving entrepreneurs, family businesses, large groups, and financial investors on domestic and international deals.
The firm's thesis is rooted in operational rigor: they believe that successful outcomes come from exhaustive deal process management combined with deep sector expertise. DDA partners remain highly involved throughout engagements, providing tailored advisory rather than transactional service. The firm is a founding member of the Alliance of International Corporate Advisors (AICA), a global network spanning 50+ firms across 40 countries.
Sector Focus
DDA & Company maintains a multi-sector practice with particular depth in:
Technology & Software: Extensive experience advising technology firms and software companies on acquisitions and growth transactions. Recent work includes advising Steliau Technology (electronic components/IT solutions) on multiple international acquisitions and LBO structures backed by leading European PE firms. The firm also advised on acquisition of Articque (a French geodecisional software vendor) and worked on multiple software M&A transactions within the AEC (Architecture, Engineering, Construction) space, including the Graitec transactions.
Manufacturing & Industrials: Strong track record with industrial companies ranging from precision manufacturing to specialized production. Advised companies like Pure Gaming (online distribution/gaming products), and various manufacturing consolidation plays. Deep expertise in operational businesses and complex manufacturing supply chains.
Business Services & Consulting: Active advisory practice in IT consulting, project management assistance, and professional services. Recent transaction includes Navigacom (IT consulting and digital transformation) sale to Meritis, and ongoing relationship with consulting sector firms. The firm understands both strategic and operational aspects of service businesses.
Aerospace, Defense & Critical Infrastructure: Advised on transactions in critical infrastructure and aerospace-adjacent sectors, including Critical Building (data center engineering firm) which was acquired by GSE Group (part of German Goldbeck conglomerate). This transaction highlighted the firm's ability to navigate complex infrastructure plays.
Distribution & Specialty Retail: Experience advising on consumer-facing distribution, e-commerce, and specialty retail businesses, evidenced by work with Pure Gaming on their sale to OFF Group.
Healthcare & Life Sciences: Advised Danone/Nutricia on acquisition of Real Food Blends, a specialized nutrition company for tube-fed patients. This demonstrates capability in healthcare-adjacent consumer healthcare markets.
Deal Track Record
DDA & Company has closed 120+ transactions in the past 10 years, with specialization in deals ranging from €5M to €100M in enterprise value. Recent representative transactions include:
-
Steliau Technology: Multiple acquisitions (InterDipros in Italy, Alpha Micro Components in UK, Welt Electronic in Italy) in electronic solutions/IT sector, all supported by B & Capital private equity backing. These transactions showcase DDA's expertise in buy-side M&A and cross-border consolidation.
-
Graitec: Multiple bolt-on acquisitions (Arma+, Lineis, 2Acad Spain/Portugal) in AEC software space, with final LBO transaction backed by Apax Partners. This ongoing relationship demonstrates DDA's deep software sector expertise and ability to execute complex PE-backed structures.
-
Critical Building: Sale of data center engineering firm to GSE Group (Goldbeck subsidiary) in 2025. Strategic acquisition combining infrastructure expertise with European expansion.
-
Navigacom: Sale of IT consulting and project management firm to Meritis (backed by Société Générale Capital Partenaires and iXO Private Equity) in December 2024. Demonstrated DDA's expertise in consulting sector consolidation.
-
Articque: Sale of French geodecisional software vendor to ChapsVision Group in July 2024. Strategic technology acquisition showing cross-founder alignment.
-
Wellcom: MBO (Management Buyout) backed by Crédit Mutuel Equity for leading influence communication agency. Recapitalization transaction.
-
Assist America: Exclusive financial advisor on sale to SiriusPoint/IMG in December 2025 for travel assistance provider.
-
Danone/Nutricia: Acquisition of Real Food Blends (specialized nutrition company) in 2020, demonstrating healthcare M&A capability.
-
Graitec/Apax: Majorité LBO with management reinvestment, following 5-year investment by Isatis Capital (exited).
-
Pure Gaming: Sale to OFF Group (with Siparex and AMDG Private Equity investors), digital/e-commerce distribution.
DDA reported 91 total transactions facilitated according to Tracxn (88 M&A deals, 3 funding rounds).
Geographic Coverage & Cross-Border Expertise
DDA & Company operates from offices in Paris and New York with extensive European reach. Deal activity spans France, Belgium, Poland, Italy, UK, Spain, and North America. The firm's cross-border transaction experience is a core differentiator—a significant percentage of deals (exact percentage referenced on website but specific figure varies) are cross-border transactions. This European-US bridge capability makes the firm uniquely positioned for international entrepreneurs and PE sponsors.
Buyer Network & PE Relationships
DDA maintains strong relationships with leading European and international private equity sponsors, evidenced by ongoing advisory roles on multiple transactions. Key PE partners include:
- Apax Partners (Graitec LBO)
- B & Capital (Steliau Technology LBO/add-ons)
- Waterland Private Equity (Guinier 1823 Group LBO)
- Crédit Mutuel Equity (Wellcom recapitalization)
- Société Générale Capital Partenaires (Meritis backing, Navigacom buyer)
- iXO Private Equity (Meritis backing)
- Siparex and AMDG Private Equity (OFF Group, Pure Gaming buyer)
- Roland Berger (B & Capital backing)
DDA's buyer network extends to strategic acquirers across industries, demonstrated by transactions with firms like Danone, Meritis, GSE Group, ChapsVision, and others.
Process & Services
DDA & Company provides full M&A service spectrum:
- Sell-side advisory: Exclusive representation of sellers in trade sales and PE-backed acquisitions
- Buy-side advisory: Support for buyers and PE sponsors evaluating targets and executing acquisitions
- Leveraged transactions: LBO and MBO structuring and execution
- Fund raising: Capital raising support for growth equity and fund situations
- Capital reorganization: Recapitalization and shareholder liquidity solutions
The firm emphasizes institutional-quality process: comprehensive target qualification, buyer outreach, negotiation support, and transaction structuring. Deal timelines vary but typically follow institutional M&A schedules (6-12 months for complex processes).
Competitive Positioning
DDA differentiates through:
- European-US bridge: Unique Paris-New York presence serving cross-border transactions. Most competitive advantages lie in cross-border expertise and Franco-American M&A facilitation.
- Sector expertise: Boutique specialization in software/technology, industrial, and consulting sectors with deep operating knowledge
- Mid-market focus: Deep expertise in €5M-€100M deal sweet spot, with relationship continuity and process discipline
- PE connectivity: Established relationships with major European PE sponsors across multiple fund families
- Operational background: Founder and partners bring operational M&A experience (not just financial advisory)
- Long-term client relationships: Evidence of repeat engagements with clients (e.g., Graitec multiple transactions, Steliau Technology multiple acquisitions)
Team
The firm operates with a lean, experienced team:
Leadership
- Didier Choix: Founder & Managing Partner. 30+ years M&A and financial strategy experience. Wharton School education. Provides overall strategic direction and manages key client relationships.
- Alexandre Odin: Partner. Joined Didier Choix in 2002 to establish and build Paris office. Career in investment banking prior to joining DDA. Leads European advisory team.
Senior Professionals
- Jean-Damien Perrier: Partner
- Alain Sitbon: Partner. Active across multiple transaction types
- Gregory Taft Gerard: Partner. 30+ years experience, primarily in manufacturing sector. Columbia University graduate.
- Anthony Wimbush: Managing Director. Leads New York office advisory work (e.g., Critical Building transaction)
- Charles-Antoine Cayez: Managing Director. Active transaction executor
- Axel Marti-Flich: Vice President. Active deal execution (multiple Steliau Technology transactions, Graitec work)
Analytical Team
- Florian Charrière: Associate
- Benjamin Guedj: Associate. EMLyon Business School graduate
- Grégoire Bizouerne: Associate
- Léopold Weerts: Associate
- Alice Taupenot Cordier: Senior Analyst
The team averages significant M&A experience at partnership level, with focused analytical support. Ratio of partners to analysts suggests hands-on, partner-involved service model consistent with firm philosophy.
Not a Fit If
DDA & Company typically focuses on:
- Transactions in €5M-€100M+ range. Smaller deals (<€5M TEV) or mega-cap transactions outside their sweet spot
- Primarily European and North American deals. Limited presence in Asia-Pacific or emerging markets
- Operates as advisory boutique, not principal investor or fund operator
Technology & Tools
The firm emphasizes technology excellence in deal execution. Per Datasite case study: DDA has worked almost exclusively with Datasite virtual data room platform for 12+ years, citing superior client service (24/7 availability across 18 languages), platform responsiveness, and continuous technology evolution as key relationship drivers. This technology discipline demonstrates commitment to modern deal tools and processes.
International Recognition
DDA & Company has received recognition in M&A rankings and deal metrics. Named among top financial advisors supporting private equity transactions in energy transition and technology sectors (H1 2024 ranking from Verdict). Founding AICA member—election to membership in global alliance of corporate finance advisors indicates peer recognition of quality and cross-border capability.