mynth
08/2019

ACOLAD acquired by QUALIUM

FRANCE Facility Management / BPO & Outsourcing / Document Management EV 300M - 700M EUR

Context

This transaction involves a secondary LBO whereby Qualium Investissement has signed a share purchase agreement to acquire a majority stake in Acolad from Naxicap Partners, concluding a formal sale process managed by Lazard. The financial engineering of the transaction features a balanced governance and equity structure: while Qualium secures a narrow capital majority, Acolad’s CEO, Benjamin du Fraysseix, alongside his family, executes a substantial equity rollover, effectively retaining ultimate voting control within the newly formed holding structure. On the debt financing side, the transaction is backed by a fully underwritten unitranche credit facility co-provided by the company's incumbent lender Idinvest and Barings. Reflecting the target’s enhanced operational scale following its strategic cross-border bolt-on of Dutch language specialist Livewords—which positions the group to reach a projected EBITDA of 32 million euros—Qualium is considering syndicating a portion of its equity commitment to co-investment minority partners. The post-closing industrial roadmap is geared toward accelerating an aggressive pan-European consolidation strategy within a fragmented 20 billion euro addressable market, specifically driving organic growth across the high-margin corporate interpretation segment.

In the past, the company underwent an LBO led by Naxicap Partners in 2016, and continued an active consolidation strategy by notably acquiring Livewords (2019).

ACOLAD, which reported an EBITDA margin of LOGIN in 2019, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Business Services sector (11.1x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Acolad is one of Europe's leading providers of professional language services. The French company offers a full range of services, including translation, interpreting, and language training. The group has implemented a dynamic external growth strategy to consolidate a fragmented language services market, developing a platform that combines local presence with international reach. The group is particularly recognized for its specialized expertise, enabling it to serve a diverse clientele across numerous sectors.

Ent. Value

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Multiples

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EV / EBITDA

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Historical Financials (EUR)

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2019
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Other operations with ACOLAD

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
10/2020ACOLADAMPLEXORLUXEMBOURGFacility Management

Acolad Group has entered into a definitive agreement to acquire 100% of Amplexor, executing a transformative consolidation within the global language services and content management industry. The tie-up creates an international heavyweight, with the combined group's headcount set to surpass 2,000 employees globally

07/2019ACOLADLIVEWORDSNETHERLANDSFacility Management

Acolad group finalized the 100% acquisition of the Dutch company Livewords from the private equity fund Bencis, which had held the asset since spring 2016. This major cross-border build-up transaction enables the acquirer to establish a direct presence in the Netherlands by absorbing the target’s three local offices and 180 employees

01/2016NAXICAP PARTNERSACOLADFRANCEFacility Management

Naxicap Partners has finalized the acquisition of a majority stake in Technicis (now Acolad), executing a primary leveraged buyout (LBO) alongside the company's Chief Executive Officer. The transaction structure involved a significant equity reinvestment from the CEO to align leadership incentives with the group's upcoming strategic milestones

REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 100M - 200M EUR

EBITDA range: 25M - 50M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ACOLAD by QUALIUM are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: acolad

Acquirer: qualium