At what enterprise value was CRYSTAL acquired in 2024?

During the acquisition of CRYSTAL by GOLDMAN SACHS in 2024, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR.

What was the EV/EBITDA of CRYSTAL when it was acquired by GOLDMAN SACHS?

The estimated EV/EBITDA multiple for CRYSTAL is in the range of 15x - 25x.

When was CRYSTAL acquired by GOLDMAN SACHS?

CRYSTAL was acquired by GOLDMAN SACHS in 2024.

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

The revenue of CRYSTAL at the time of the deal is estimated to be in the range of 250M - 500M EUR.

What was the EBITDA of CRYSTAL during the acquisition?

CRYSTAL's EBITDA is estimated to be in the range of 50M - 100M EUR.

How is the data for the CRYSTAL 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 CRYSTAL 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/lbo-goldman-sachs-valorise-crystal-920meur-2093609

What is the average EV/EBITDA multiple for the Financial Services sector in 2026?

The average EV/EBITDA multiple for the Financial Services sector in 2026 is 12.4x.

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Home Database Financial ServicesCRYSTAL

05/2024

CRYSTAL acquired by GOLDMAN SACHS

FRANCE Wealth & Asset Management EV 500M - 1.5b EUR

Context

Crystal, a dominant player in the French wealth management and private banking sector, has announced that Goldman Sachs Alternatives, via its Private Equity team, has acquired a majority stake in the group. This high-profile transaction marks a new scaling phase for Crystal, with Seven2 (formerly Apax Partners) reinvesting to maintain a 25% stake alongside the management team.

CRYSTAL, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Financial Services sector (12.4x).

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Target

Crystal operates as an independent wealth management firm specializing in the provision of bespoke financial advisory, asset allocation, and wealth structuring services. The company's corporate business model focuses on generating recurring fee-based and commission-based revenues through the long-term management of private investment portfolios. The organization strategically targets two primary premium client demographics: high-net-worth individuals (HNWIs) within the domestic French market and French expatriates distributed globally across international jurisdictions.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2024

2023

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04/2024	EURAZEO	ERES	FRANCE	Wealth & Asset Management
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02/2022	ACTIVA CAPITAL	RHETORES	FRANCE	Wealth & Asset Management
01/2022	ASTORG / ALPINVEST / GOLDMAN SACHS	IQ-EQ	LUXEMBOURG	Wealth & Asset Management
08/2021	ANDERA PARTNERS	PATRIMMOFI	FRANCE	Wealth & Asset Management
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REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CRYSTAL by GOLDMAN SACHS 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: goldman sachs