At what enterprise value was CONEX acquired in 2023?

During the acquisition of CONEX by 21 INVEST in 2023, the transaction's Enterprise Value is estimated to be in the range of 50M - 150M EUR.

When was CONEX acquired by 21 INVEST?

CONEX was acquired by 21 INVEST in 2023.

What was the revenue of CONEX at the time of the deal?

The revenue of CONEX at the time of the deal is estimated to be in the range of 5M - 25M EUR.

How is the data for the CONEX acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the CONEX deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://capitalfinance.lesechos.fr/deals/lbo/21-invest-france-veut-faire-de-conex-le-leader-europeen-des-logiciels-de-conformite-douaniere-2027944

What is the average EV/EBITDA multiple for the TMT (Tech, Media, Telecom) sector in 2026?

The average EV/EBITDA multiple for the TMT (Tech, Media, Telecom) sector in 2026 is 15.1x.

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Home Database TMT (Tech, Media, Telecom)CONEX

11/2023

CONEX acquired by 21 INVEST

FRANCE Software / Industry-Specific Software EV 50M - 150M EUR

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 in 2022, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

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.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

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2022

2021

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REFERENCES

Valuation range: EV 50M - 150M EUR

Revenue range: 5M - 25M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CONEX by 21 INVEST 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: 21 invest