CONEX acquired by 21 INVEST
Context
Conex, the leading French developer of customs and security management software, has opened its capital to 21 Invest France. This majority investment marks the second transaction of 21 Invest's sixth-generation fund. The group�s founders, Alban and Bertrand Gruson, are reinvesting significantly to lead an ambitious multi-year growth strategy.
CONEX, which reported an EBITDA margin of LOGIN in 2022, 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 (14.8x).
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
Founded nearly 40 years ago, Conex is the leading French developer of customs management and security compliance software. Its business model centers on a specialized digital platform that automates customs declarations and ensures secure electronic data interchange (EDI) between private companies (shippers and registered customs representatives) and international customs authorities. With a market share exceeding 66% in France, the company’s value proposition lies in its ability to simplify complex, ever-evolving regulatory requirements for a diverse base of 1,600 clients, ranging from SMEs to multinationals. Strategically, Conex acts as a critical intermediary in global trade, leveraging its technical expertise to provide high-margin, recurring software-as-a-service (SaaS) and associated services that optimize international supply chain workflows.
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Historical Financials (EUR)
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REFERENCES
Valuation range: EV 50M - 150M EUR
Revenue range: 5M - 25M EUR
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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: 21 invest