Calicéo
Calicéo operates as a family group of aquatic fitness and beauty-massage spaces.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
* | N/A | Growth Equity non VC | |
| Total Funding | 000k | ||
| EUR | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | (12 %) | 3 % | 11 % | (47 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 14 % | 20 % | 13 % | 20 % | 18 % | (14 %) |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 7 % | 11 % | 3 % | (3 %) | 9 % | (32 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Established in 1997, Calicéo operates as a key player in France's water-based wellness and balneotherapy market. The company was originally founded as a subsidiary of Thermes Adour by Gilbert Ponteins in Saint-Paul-lès-Dax. The initial concept aimed to provide an activity for individuals accompanying spa visitors, but it quickly became apparent that local residents were the primary audience. This realization prompted a strategic shift towards making water-based wellness accessible to a broader, urban clientele.
In 2018, the firm entered a new phase when it was acquired by the investment fund Ekkio Capital and a management team led by Marc Léonard, an entrepreneur with a background as the former president of Joa casinos. Following the acquisition, the company's headquarters were relocated to Sainte-Foy-lès-Lyon. Under this new leadership, Calicéo has pursued an ambitious growth strategy, highlighted by a €100 million fundraising round in 2021 to finance territorial expansion across France. This was followed by the strategic acquisition in 2024 of "Les Cent Ciels," a brand operating six wellness establishments in city centers, complementing Calicéo's larger, peri-urban locations.
Calicéo's business model is centered on providing high-volume, accessible wellness experiences in large facilities, typically over 4,000 square meters, located near major metropolitan areas with significant population density. Revenue is generated primarily through the sale of timed-entry passes, such as two-hour slots or multi-hour cards, with an average customer spend of around €15-€16. The company operates through three main pillars: "Bains" (Baths), "Spa," and "Vitalité" (Vitality). The core offering includes large indoor and outdoor pools heated to approximately 33°C, equipped with jacuzzis, geysers, massaging jets, and waterfalls, alongside hammams and saunas. The Vitalité component offers aquatic fitness classes like aquagym and aquabike, while the Spa provides massages and beauty treatments, which account for a smaller portion of revenue. Recently, the company has expanded its services to include health-prevention activities such as cryotherapy, halotherapy, and light therapy.
Keywords: balneotherapy, wellness centers, aquatic fitness, spa services, health prevention, urban leisure, Marc Léonard, Ekkio Capital, hydrotherapy, relaxation