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  1. Professionals

Thomas Pulcini

Partner of W&S SELAS

Paris

+33 1 53 64 81 80

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  • Overview
  • Experience
  • Credentials
  • Insights & News

Thomas has a diversified practice that emphasizes matters in international and domestic taxation, with special experience in advising private equity funds and managers with their leveraged buyouts and in capital development transaction as well as companies on their growth strategies or reorganizations. Over the years, Thomas Pulcini earned the trust of many leading players in private equity across Europe, advising them in major mid-market LBO transactions with a nexus to France.

Thomas advises French and international private equity clients. A key part of his role is providing critical tax support in giving structuring advice on the most significant and complex corporate deals in relation to France. He indeed focuses on high value added structuring work for equity investors and financial institutions (lenders).

Over the last years, he has been involved in a very large number of private equity deals. In many of these deals, efficient tax structuring that addresses both legal and business efficiencies is often critical to the success of the deal. In instance, he creates tax structures that not only work for the current deal, or in the current environment, but that will make the target group attractive to future purchasers.

Thomas also works on high net worth individuals for tax optimization purposes and for the securing of their tax position in France. He also has strong experience in assisting managers with their leveraged buyouts. The work performed in this context of private equity deals further demonstrates his status as go-to tax counsel for leading corporate clients and their management in connection with sophisticated private equity buyouts.

Key Matters

Advising sponsors:

  • Advising 21 Invest in connection with the LBO of Leetchi.
  • Advising Quilvest Capital Partners in connection with the LBO of Lunettes Pour Tous.
  • Advising Ardian Expansion in connection with the LBO of Alstef and the OBO of Alixio Group.
  • Advising ISAI in connection with the LBO of DRIIVEME.
  • Advising Mérieux Equity Partners in connection with the LBOs of Piercan and Theravia Pharma and its investment in Biobest.
  • Advising IK Partners in connection with the LBO of IRBIS Group.
  • Advising Keensight Capital in connection with the sales of (i) Lynkbynet to Accenture and (ii) A2MAC1 to FAPI and Providence Equity Partners.
  • Advising Keensight Capital in connection with the LBOs of Sogeolink, Adista, Valiantys, Quanos and with the LBUs of Unyc, Locatiqs and Focus Software.
  • Advising ISAI Expansion in connection with the LBO of Vitalliance Group.
  • Advising B & Capital in connection with the LBOs of HR Team group, Stelian Technology group and Be-Cloud group.
  • Advising EMZ in connection with the LBO of Advancy.
  • Advising Equistone Partners Europe in connection with the LBOs of Vulcain Ingénierie, GSCM and Safic-Alcan groups.
  • Advising Andera Partners in connection with the sales of Minafin Group.
  • Advising Sagard in connection with the OBO of Asobo Studio.
  • Advising Eurazeo in connection with the LBO of WiiSmile, its investment in Klaxoon and the LBU of Millbrook.
  • Advising Arkea Capital, Société Générale Capital Partenaires and BNP Paribas Développement in connection with the LBO of ACB.
  • Advising Tikehau Capital in connection with the LBO of Sterne Group and LBU of Nox Nachtexpress.
  • Advising Insight Partners in connection with the LBO of I@D.
  • Advising EQT Partners in connection with the LBO of Cerba Healthcare Group.
  • Advising Astorg in connection with the LBO of Armor IIMAK.

Advising management teams:

  • Advising the founders and the management team of EDL in connection with the LBO structured by Dentressangle Capital.
  • Advising the founders of Aero Negoce International in connection with its sale to Bossard.
  • Advising the partners of BCF Life Sciences Group in with its sale to Sparkfood.
  • Advising Capza and the management team of Eurofeu Group in connection with the LBO structured by IK Partners.
  • Advising the management team of Groupe Claire in connection with the LBO structured by CME & SGCP.
  • Advising the management team of Odigo Group in connection with the LBO structured by Apax Partners.
  • Advising the management team of Sicame in connection with the LBO structured by Equistone.
  • Advising the management team of Cleeven with the LBO structured by CNP.
  • Advising the shareholders and managers of Dedienne Aerospace Group in connection with the MBO structured by Crédit Mutuel Equity, IRDI and GSO.

Advising Lenders:

  • Advising Eurazeo on the mezzanine financing of the acquisition of the Vulcain Ingénierie Group.
  • Advising Muzinich & Co on the unitranche financing of the acquisition of the Banook Group.
Recent Experience
Winston advises 21 Invest France on its acquisition of a stake in Donora, the new holding company for Leetchi and iRaiser
Winston advised Astorg on the acquisition of a majority stake in Redslim, in partnership with its founders and management team
Winston represents  the founding partners of EDL in a new LBO
Winston advised the funds advised by White Peaks Capital in connection with the financing of Seven2's investment in Groupe School of Arts.
Winston advises Ardian on its acquisition of a majority stake in Alstef Group
Winston advised the partners of BCF Life Sciences Group in its sale to Sparkfood
Winston assists Eurazeo in the financing of Vulcain Ingénierie's fourth LBO
Winston is representing Muzinich & Co in the context of Banook's LBO
Winston advised the management team of the Groupe Claire in the context of its LBO
Winston assisted the French leading investment fund in Tech & Digital private companies ISAI on the acquisition of a minority stake in DriiveMe

  • Recognized by Lawdragon 2025 – “500 Leading Global Tax Lawyers”
  • Recognized by The Legal 500 EMEA 2024 – Tax as “Next Generation Partner”
  • Recognized by Best Lawyers 2024 – France in tax law
  • Recognized by Décideurs 2024 – Transactional tax: Excellent
  • Recognized by Option Droit des Affaires 2024 – Transactional tax: Excellent

Thomas is the author of numerous articles and leads training courses in tax law for European private equity funds’ management team. He is also a member of several professional networks including the France Invest Committee. In addition, he is a lecturer at the University of Paris I (La Sorbonne) and at HEC.

Capabilities

Tax
Private Equity

Key Matters

Advising sponsors:

  • Advising 21 Invest in connection with the LBO of Leetchi.
  • Advising Quilvest Capital Partners in connection with the LBO of Lunettes Pour Tous.
  • Advising Ardian Expansion in connection with the LBO of Alstef and the OBO of Alixio Group.
  • Advising ISAI in connection with the LBO of DRIIVEME.
  • Advising Mérieux Equity Partners in connection with the LBOs of Piercan and Theravia Pharma and its investment in Biobest.
  • Advising IK Partners in connection with the LBO of IRBIS Group.
  • Advising Keensight Capital in connection with the sales of (i) Lynkbynet to Accenture and (ii) A2MAC1 to FAPI and Providence Equity Partners.
  • Advising Keensight Capital in connection with the LBOs of Sogeolink, Adista, Valiantys, Quanos and with the LBUs of Unyc, Locatiqs and Focus Software.
  • Advising ISAI Expansion in connection with the LBO of Vitalliance Group.
  • Advising B & Capital in connection with the LBOs of HR Team group, Stelian Technology group and Be-Cloud group.
  • Advising EMZ in connection with the LBO of Advancy.
  • Advising Equistone Partners Europe in connection with the LBOs of Vulcain Ingénierie, GSCM and Safic-Alcan groups.
  • Advising Andera Partners in connection with the sales of Minafin Group.
  • Advising Sagard in connection with the OBO of Asobo Studio.
  • Advising Eurazeo in connection with the LBO of WiiSmile, its investment in Klaxoon and the LBU of Millbrook.
  • Advising Arkea Capital, Société Générale Capital Partenaires and BNP Paribas Développement in connection with the LBO of ACB.
  • Advising Tikehau Capital in connection with the LBO of Sterne Group and LBU of Nox Nachtexpress.
  • Advising Insight Partners in connection with the LBO of I@D.
  • Advising EQT Partners in connection with the LBO of Cerba Healthcare Group.
  • Advising Astorg in connection with the LBO of Armor IIMAK.

Advising management teams:

  • Advising the founders and the management team of EDL in connection with the LBO structured by Dentressangle Capital.
  • Advising the founders of Aero Negoce International in connection with its sale to Bossard.
  • Advising the partners of BCF Life Sciences Group in with its sale to Sparkfood.
  • Advising Capza and the management team of Eurofeu Group in connection with the LBO structured by IK Partners.
  • Advising the management team of Groupe Claire in connection with the LBO structured by CME & SGCP.
  • Advising the management team of Odigo Group in connection with the LBO structured by Apax Partners.
  • Advising the management team of Sicame in connection with the LBO structured by Equistone.
  • Advising the management team of Cleeven with the LBO structured by CNP.
  • Advising the shareholders and managers of Dedienne Aerospace Group in connection with the MBO structured by Crédit Mutuel Equity, IRDI and GSO.

Advising Lenders:

  • Advising Eurazeo on the mezzanine financing of the acquisition of the Vulcain Ingénierie Group.
  • Advising Muzinich & Co on the unitranche financing of the acquisition of the Banook Group.
Recent Experience
Winston advises 21 Invest France on its acquisition of a stake in Donora, the new holding company for Leetchi and iRaiser
Winston advised Astorg on the acquisition of a majority stake in Redslim, in partnership with its founders and management team
Winston represents  the founding partners of EDL in a new LBO
Winston advised the funds advised by White Peaks Capital in connection with the financing of Seven2's investment in Groupe School of Arts.
Winston advises Ardian on its acquisition of a majority stake in Alstef Group
Winston advised the partners of BCF Life Sciences Group in its sale to Sparkfood
Winston assists Eurazeo in the financing of Vulcain Ingénierie's fourth LBO
Winston is representing Muzinich & Co in the context of Banook's LBO
Winston advised the management team of the Groupe Claire in the context of its LBO
Winston assisted the French leading investment fund in Tech & Digital private companies ISAI on the acquisition of a minority stake in DriiveMe

Credentials

Education

Thomas Pulcini received a PhD in tax law from University of Paris XII.

    Admissions
    • Paris, France

    Related Insights & News

    Publications & Speaking Engagements

    • Writing article "Revenus distribués et assimilés - Précisions sur la conversion d’actions & enjeux fiscaux (Cass. com., 10 juill. 2024, n° 22-15.836)" on Revue de Droit Fiscal, January 2025. (Link)
    • Interview "Driiveme, un OBO minoritaire pour pérenniser une trajectoire de croissance" NextStep Magazine, January 2024. (Link)
    • Lecturer at HEC - Mastère Spécialisé/LLM Droit et Management International
    • Lecturer at the law school of University of Paris 1 (La Sorbonne) - Master 2: "Opérations et fiscalité internationales des sociétés".
    • Writing article "Possibilité d’imputer des pertes définitives d’établissements stables européens" on Revue de Droit Fiscal.
    • Writing article "Actions gratuites Macron : retour vers le futur" on Décideurs Juridiques et Financiers.
    • Writing article "Decision of the Conseil d'Etat to cancel an administrative instruction" on Revue de Droit Fiscal
    Recognitions
    Winston Partners Featured on the Lawdragon 500 Leading Global Tax Lawyers List 2025

    May 19, 2025

    Recognitions
    Winston & Strawn Paris Recognized in The Legal 500 EMEA 2025

    March 26, 2025

    Sponsorship
    Winston & Strawn at IPEM 2025

    January 28, 2025

    Recognitions

    Winston & Strawn Attorneys Recognized in The Best Lawyers™ in France 2025

    June 20, 2024

    Recognitions
    Winston & Strawn Paris Recognized in The Legal 500 EMEA 2024

    March 27, 2024

    Recognitions
    Winston Paris Teams Win Palmarès du Droit 2024 International Law Firm of the Year Award

    March 26, 2024

    View All Insights & News

    Capabilities

    Tax
    Private Equity
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