At what enterprise value was LINXENS acquired in 2015?

During the acquisition of LINXENS by CVC in 2015, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Industry & Manufacturing industry currently tracks an average EBITDA multiple of 11.4x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of LINXENS when it was acquired by CVC?

The estimated EV/EBITDA multiple for LINXENS is in the range of 10x - 18x. For comparison, the Industry & Manufacturing sector currently shows an average EBITDA multiple of 11.4x. Join our community for free to access full valuation data and industry trends.

When was LINXENS acquired by CVC?

LINXENS was acquired by CVC in 2015.

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

The revenue of LINXENS at the time of the deal is estimated to be in the range of 250M - 500M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of LINXENS during the acquisition?

LINXENS's EBITDA is estimated to be in the range of 100M - 200M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the LINXENS 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 LINXENS 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://www.cvc.com/media/news/2015/2015-07-01-cvc-fund-vi-enters-exclusive-negotiations-acquire-linxens/

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Home Database Industry & ManufacturingLINXENS

07/2015

CVC takes majority stake in LINXENS

FRANCE Industrial Equipment / Safety & Security EV 1b - 4b EUR

Context

CVC Capital Partners is acquiring Linxens. The acquisition entered exclusive negotiations in July 2015 after Linxens, a manufacturer of smart‑card connectors headquartered in France, was identified as a potential buy‑out target by its majority shareholder Astorg Partners. Linxens operates five production sites and three R&D centres in Europe and Asia, employing roughly 1,100 staff and supplying connectors for banking cards, SIM cards, transport tickets and health documents. The exclusive discussion follows a period of market speculation regarding a secondary buy‑out of the company. CVC’s interest centres on expanding its portfolio of technology‑enabled industrial businesses and leveraging Linxens’ position in the growing smart‑card ecosystem. The firm anticipates that the connector supplier’s established relationships with banks, telecom operators and public‑sector issuers provide a platform for scaling volume as contactless payments and digital identity solutions gain adoption worldwide. By integrating Linxens into its operational platform, CVC aims to drive cost efficiencies through shared procurement, enhance product development speed via cross‑company engineering resources, and pursue geographic expansion into North America and emerging Asian markets. Post‑closing, Linxens is expected to retain its current management team while receiving strategic guidance from CVC’s sector specialists. The combined entity plans to increase capacity at existing factories, invest in next‑generation antenna and contactless module technologies, and pursue add‑on acquisitions that complement its connector portfolio. These actions are projected to strengthen market share in the EMV and NFC segments, improve margin performance through economies of scale, and reinforce the supplier’s ability to meet evolving regulatory standards across multiple jurisdictions.

LINXENS, which reported an EBITDA margin of LOGIN in 2014, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Industry & Manufacturing sector (11.4x).

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

Linxens designs and manufactures electrical connectors specifically engineered for smart card applications. The product portfolio includes contact and contactless interfaces, antenna modules, and integrated solutions that enable data exchange and power delivery within payment cards, mobile SIMs, identity documents and health cards. Manufacturing is organized across five production facilities located in France, Germany, the United Kingdom, China and Singapore, each equipped for high‑volume injection molding, metal stamping and precision assembly. Research and development is concentrated in three centres situated in France, Germany and Singapore, where engineers develop miniaturized connector architectures and certify compliance with EMV, ISO/IEC and other industry standards. The company sells primarily to original equipment manufacturers that embed the connectors into finished cards for banks, telecom operators, public‑transport authorities and governmental agencies. Revenue is generated through long‑term supply contracts, volume‑based pricing and occasional custom‑design projects that address emerging standards such as contactless payments and biometric identification. Linxens operates a global supply chain, sourcing raw materials from European and Asian vendors and delivering finished components to assembly lines worldwide. The business model emphasizes recurring demand from card‑issuers, high barriers to entry due to stringent certification requirements, and continuous product iteration to support new security protocols. Since its spin‑off from FCI in 2011, the firm has expanded its footprint to serve markets across Europe, North America, Asia‑Pacific and the Middle East.

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Other operations with LINXENS

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
07/2018	TSINGHUA UNIGROUP	LINXENS	FRANCE	Industrial Equipment	Tsinghua Unigroup has agreed to acquire Linxens, a French supplier of micro‑connectors for smart‑card and payment‑card applications. The transaction, announced in July 2018, follows a month‑long negotiation period and is subject to clearance by French, German and European competition authorities

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of LINXENS by CVC are reserved for mynth community members. Register for free to unlock full data.

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).

Press release: view release

Target: linxens

Acquirer: cvc