ADVENS acquired by PARQUEST CAPITAL & CAPZA
Context
Capza and Parquest Capital entered the capital of Advens as minority shareholders, alongside founder Alexandre Fayeulle and the management team, who retain majority control. This operation is notable for its integrated philanthropic structure: a significant portion of the company’s capital gains and dividends are directed toward a large-scale endowment fund. The primary objective of the partnership is to fuel Advens’ technological R&D and international expansion, aiming to establish the firm as the premier Security-as-a-Service provider in Europe. The deal also involved a significant employee secondary component, allowing 33% of the staff to become shareholders.
ADVENS, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.3x).
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.
-> Deep-dive in TMT (Tech, Media, Telecom) market trends
Target
Advens is the leading French independent "pure player" in cybersecurity. The company specializes in Security-as-a-Service (SaaS), operating a unique 24/7 Security Operations Center (SOC) that integrates artificial intelligence with human expertise to protect over 300 clients globally. Advens’ value proposition centers on high-end cyber consulting combined with scalable, subscription-based protection models. Strategically, the firm distinguishes itself through a "societal impact" model, committing up to 40% of its financial value to an endowment fund dedicated to youth inclusion and education. As of 2021, the group achieved over 20% growth in services and an accelerated 70% annual growth in its Security-as-a-Service business.
Ent. Value
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (EUR)
Similar deals in TMT (Tech, Media, Telecom)
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 01/2022 | BAIN CAPITAL | INETUM | FRANCE | IT Services | Bain Capital entered into exclusive negotiations to acquire Inetum from the Qatari group Mannai Corporation. The transaction valued the group at approximately EUR2.27 Billion. The goal of this LBO is to accelerate Inetum's international expansion and support its buy-and-build strategy to become a leading player in the European IT services market |
| 01/2022 | PARTNERS GROUP | ATNORTH | ICELAND | IT Services | Partners Group has agreed to acquire a majority stake in atNorth Holding AB from its existing shareholder group with the objective to transform atNorth from an Icelandic-centric operator into a leading pan-Nordic data center provider |
| 09/2021 | FAYAT | NXO | FRANCE | IT Services | The Fayat Group acquired 100% of NXO from Butler Industries. This acquisition comes six years after Butler rescued the company (then NextiraOne) from bankruptcy and successfully turned it around. Strategically, this deal is a game-changer for Fayat's Energy division |
| 09/2021 | ADISTA | UNIK | FRANCE | IT Services | Adista and Unyc, both supported by Keensight Capital, have signed an exclusivity agreement for a strategic merger. This transaction creates a new national champion with a combined turnover of €220 million and 900 employees in 2021 |
| 07/2021 | ICG | INFRA GROUP | BELGIUM | IT Services | Infra Group has finalized its fourth LBO, with ICG stepping in as the new majority shareholder to support its next growth phase. Previously backed by Andera Partners, which remains an investor, the Belgian infrastructure specialist aims to accelerate its European expansion |
| 07/2021 | CHARTERHOUSE | LABELIUM | FRANCE | IT Services | Charterhouse Capital Partners acquired Labelium, a leading Paris-based digital marketing agency. This transaction marked a significant milestone, as Labelium had more than doubled in size since its previous acquisition by Qualium Investissement in 2018 |
| 07/2021 | AXCEL | PRODATA CONSULT | DENMARK | IT Services | Axcel has successfully finalized the acquisition of a majority stake in ProData Consult from Polaris and the organization's founders, marking the sixth platform investment for its Axcel VI fund. This strategic transaction aims to accelerate the target’s growth trajectory to establish a leading European talent-centric platform for IT consultants |
| 07/2021 | TRITON PARTNERS | SWISS IT SECURITY GROUP (SITS) | SWITZERLAND | IT Services | Triton Partners has acquired a majority stake in Swiss IT Security Group (SITS) from Ufenau Capital Partners. The transaction values the company at over EUR450 million. This exit represents a phenomenal return for Ufenau, generating a 12x Money Multiple and an IRR of >150% in just 4 years |
| 06/2021 | KEENSIGHT CAPITAL | ADISTA | FRANCE | IT Services | Keensight Capital has signed an agreement to acquire a majority stake in Adista, taking over from Equistone Partners Europe. The deal was structured via a preemptive offer, bypassing a planned auction process due to Adista's strong performance, having doubled its revenue since 2016 |
| 05/2021 | ICG | CIRCET | FRANCE | IT Services | UK-based investment firm Intermediate Capital Group (ICG) has acquired a majority stake in Circet from Advent International in a third leveraged buyout (LBO). The deal values the French group +€3.2 billion, more than triple the valuation when Advent invested in 2018 |
REFERENCES
Valuation range: EV 100M - 350M EUR
Revenue 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 ADVENS by PARQUEST CAPITAL / CAPZA 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).
Acquirer: capza / parquest capital