What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

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Home Database Business ServicesADIT (AGENCE POUR LA DIFFUSION DE L'INFORMATION TECHNOLOGIQUE)

01/2022

ADIT (AGENCE POUR LA DIFFUSION DE L'INFORMATION TECHNOLOGIQUE) acquired by SAGARD

FRANCE Professional Services / Consulting & Audit EV 300M - 700M EUR

Context

Sagard entered into exclusive negotiations to become the new reference shareholder of ADIT, acquiring a stake slightly below 50%. This transaction represents the fourth LBO since the company's privatization in 2011. Existing shareholders Parquest Capital, Bpifrance, and Amundi PEF reinvested in the new structure. The French State retained its "golden share" to safeguard strategic national interests. The deal aims to support ADIT's ambition to rival major Anglo-Saxon players and accelerate its expansion into Italy, Germany, and Spain.

It is worth noting that the fund Parquest Capital / Bpifrance took control of Adit through an LBO in 2019.

ADIT (AGENCE POUR LA DIFFUSION DE L'INFORMATION TECHNOLOGIQUE), which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.3x).

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Target

ADIT is the European leader in strategic intelligence, business ethics, and operational support. Historically linked to the French state, it has evolved into a private global player supporting 1,000+ clients (CAC 40, PE funds). Its activities are divided into 5 poles: strategic intelligence, public affairs (Antidox), security/risk management, international trade support, and sovereignty support (DCI).

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

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2021

2020

Other operations with ADIT (AGENCE POUR LA DIFFUSION DE L'INFORMATION TECHNOLOGIQUE)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
07/2025	UI INVESTISSEMENT / MACSF / COVEA	ADIT (AGENCE POUR LA DIFFUSION DE L'INFORMATION TECHNOLOGIQUE)	FRANCE	Consulting & Audit
03/2024	ADIT (AGENCE POUR LA DIFFUSION DE L'INFORMATION TECHNOLOGIQUE)	DEFENSE CONSEIL INTERNATIONAL (DCI)	FRANCE	Consulting & Audit
06/2019	PARQUEST CAPITAL / BPIFRANCE	ADIT (AGENCE POUR LA DIFFUSION DE L'INFORMATION TECHNOLOGIQUE)	FRANCE	Consulting & Audit

REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 100M - 200M EUR

EBITDA range: 10M - 30M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ADIT (AGENCE POUR LA DIFFUSION DE L'INFORMATION TECHNOLOGIQUE) by SAGARD are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: sagard