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M&A

CARNE GROUP

Acquired by

PERMIRA

IRELAND Healthcare Services EV [1b EUR - 100b EUR] 01/2026

Target

CARNE GROUP

Acquirer

PERMIRA

Context

Permira has reached an agreement to acquire a significant minority stake in Carne Group. The transaction facilitates the complete exit of Vitruvian Partners (who invested in 2021) and other minority shareholders. Crucially, the founder John Donohoe, the management team, and employees will retain the majority of the capital and voting control, ensuring continuity in governance. The partnership is intended to accelerate Carne's international expansion, specifically in the United States, and to fuel further development of its digital platform.

The transaction values CARNE GROUP at an EV/Revenue multiple of LOGIN.

This transaction is part of the Healthcare & Pharma industry, which currently tracks an average EBITDA multiple of 13.4x since the beginning of 2026, 1.2% decrease compared to 2025. 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

Carne Group is a leading international provider of fund management solutions, independent governance, and regulatory compliance services. It operates a hybrid model combining high-touch professional services with its proprietary technology platform, "Curator," to manage complex regulatory requirements for asset managers. In Luxembourg alone, the group oversees over EUR200bn in AuM.

Ent. Value

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
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2024
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Other operations with CARNE GROUP

mynth data is contributed by M&A / PE professionals and systematically cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.