AYMING acquired by ANDERA PARTNERS

Groupe EIF reorganizes its shareholding through its third LBO ("LBO Ter"). Five new investment funds join the capital to support the group's domestic and international development. The management team strengthens its majority position while opening the capital to all employees. This partnership aims to accelerate the deployment of SaaS solutions for tax performance and to lead a buy-and-build strategy across Europe, particularly in Italy and Benelux, following the acquisition of Forecast Consulting in Belgium.

Siparex Entrepreneurs and Bpifrance acquired a majority stake in NOOUS, marking the group's first opening of capital since its creation 25 years ago. The transaction orchestrates a managerial transition: historical founder retains a significant minority stake but passes the CEO role, while 8 key managers (7 of whom are women) invest in the company. The new funds and governance structure aim to accelerate NOOUS's development through organic expansion of its service offer and targeted external growth acquisitions to consolidate the fragmented HR consulting market.

Blackstone acquired a majority stake in Citrin Cooperman from New Mountain Capital in a landmark deal valuing the firm at an enterprise value of over $2 billion. The strategic rationale focuses on continuing the firm's rapid consolidation of the fragmented regional accounting market and accelerating investments in AI and offshore delivery centers to improve margins. Partners of the firm reinvested a substantial portion of their equity, while the deal structure ensures the audit side remains independently owned to satisfy SEC and PCAOB independence standards.

Telemos Capital has finalized a new investment partnership with Helios Global Group, marking the exit of the previous financial sponsor, NorthEdge. The strategic rationale for this transaction centers on a "global-platform" play, merging the target's technical operational depth in medical communications with the new sponsor's flexible capital and international expansion expertise. This transition effectively prepares the organization for its next stage of evolution, moving beyond its regional success to become a dominant global provider of integrated biopharma services. This operation allows the management team to execute a definitive structural expansion into new service lines and geographic territories, particularly in the North American market. By incorporating the group into a family-backed investment framework, the organization gains the stability required to harness innovative technologies and scale its internal infrastructure in alignment with its expanding client base. The maneuver optimizes the group's financial profile, facilitating further strategic add-on acquisitions following the successful integration of previous market access specialists. Ultimately, the partnership solidifies the group’s standing as a primary enabler of scientific narrative and health economic innovation, bridging the gap between clinical research and global market commercialization.

CapMan has completed the divestment of its majority stake (92.7%) in CaPS to Proxer Bidco Oy. This transaction represents a strategic carve-out, allowing the seller to refocus its resources and capital on its core private asset fund management business. Originally an internal service unit, the target had evolved into a largely standalone business with limited operational links to the rest of the group, making the divestment a natural progression for its next growth phase. The sale significantly enhances the seller’s financial position, providing strong liquidity and a positive impact on 2024 earnings. Following the closing, the target will operate under a new ownership structure designed to facilitate further expansion across the Nordics and beyond, while continuing to serve its extensive network of members and vendors.

This transaction represents the enterprise's fifth consecutive Leveraged Buyout (LBO), marking a significant yet familiar restructuring of its cap table. The incoming lead financial sponsor steps in to successfully provide an exit for several incumbent minority investment funds. A defining characteristic of this operation is the massive, broad-based reinvestment from the executive leadership and a vast cohort of key employees, ensuring profound strategic alignment. The overall capitalization is robustly structured, featuring a comprehensive senior debt package syndicated across multiple tranches by an expanded consortium of historical banking partners. Crucially, this financing architecture includes substantial, dedicated acquisition credit lines strictly earmarked to rapidly trigger an aggressive, inorganic external growth campaign immediately following the successful completion of the customary regulatory closing conditions.

Abénex has successfully structured a continuation vehicle to acquire a 55% majority stake in Europa Group, facilitating a major secondary leveraged buyout and the transfer of assets from its fifth flagship fund. This strategic operation marks a pivotal shift in the group's governance, allowing the founders to trigger a structured managerial transition while retaining a significant 35% minority stake. The primary objective is to aggressively finance Europa Group's ongoing multiple build-up strategy in specialized medical media to double the group's size by 2029.

Trail Capital has successfully completed a strategic investment in Marcadé via its SLAM fund, acquiring a significant stake to fuel the agency's international 2028 Roadmap. The operation is strictly engineered to trigger a transition of ownership, inviting five key managers to the cap table alongside the founder. To adequately capitalize this new cycle, the deal structure incorporates a debt package designed to support an aggressive organic and external growth strategy. This partnership is aimed at tripling the group's revenue from €20M to €60M by 2028 by establishing new local hubs in high-growth regions such as the Middle East (Dubai) and the United States.

PROMAN has completed the acquisition of the French startup Onestaff. This transaction marks the group's second major digital acquisition within a year, following the integration of the online agency Iziwork. The strategic rationale for the deal is to bridge the gap between traditional temporary staffing and the burgeoning freelance economy. By integrating Onestaff’s AI-driven matching technology and its database of 60,000 independent professionals, PROMAN can now offer corporate clients a seamless choice between temporary employment contracts and freelance service agreements. The deal is particularly significant given Onestaff's resilience, having secured its legal standing after a five-year judicial procedure, and its recent pivot to profitability. For PROMAN, the partnership provides an immediate foothold in the retail, beauty, and events sectors with a scalable, low-overhead digital model. This move highlights a broader trend among European staffing giants to "buy rather than build" digital capabilities, ensuring they remain relevant to a workforce increasingly seeking flexibility and digital-first interactions.

The ADIT Group acquired a 66% controlling stake in DCI, marking the group's official privatization. The transaction involved ADIT purchasing the entire 33.33% stake held by Sofema and a 21.56% stake from the French State. The French State retains a 34% "blocking minority" stake to safeguard strategic interests. This merger creates a French champion of "soft power" and economic intelligence, combining DCI's military expertise with ADIT's strategic influence. The strategic roadmap includes modernizing services through digitalization, expanding presence in Eastern Europe (Ukraine/Poland) and Africa (where revenue grew to 15% of the total), and strengthening ties with French defense manufacturers.