Home Database TMT (Tech, Media, Telecom)Efront

01/2015MajorityLBO

Bridgepoint takes majority stake in Efront

FRANCE Software / Industry-Specific Software / Financial Services / Banking EV €300–700M

Context

Bridgepoint has acquired a majority stake in eFront from Francisco Partners, a technology-focused private equity firm, in a secondary buy-out valued at €300 million. Bridgepoint emerged as the winner in a competitive auction process managed by Barclays Capital, outbidding several major private equity firms including Permira, Astorg, TPG Capital, and Silver Lake. This transaction follows eFront's successful private-to-public-to-private journey, having listed on Alternext Paris in 2006 before being taken private by Francisco Partners in 2011. The acquisition is supported by a significant debt package totaling approximately €110 million, provided by a syndicate including Babson Capital, ING, HSBC, and Bank of Ireland. The strategic rationale focuses on scaling eFront's vertically integrated software platform to meet the growing demand for transparency and sophisticated reporting in the global private equity and real estate sectors.

The acquisition of Efront is part of the growth strategy of Bridgepoint, which already has several external growth operations under its belt, notably Azzurri Group in 2014.

Efront, which reported an EBITDA margin of [members only] in 2014, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.

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Target

Founded in 1999, eFront is a leading global provider of specialized software solutions for the financial services industry, with a primary focus on alternative investments and enterprise risk management. The company’s comprehensive product suite covers the entire investment lifecycle, including front-office tools (CRM, fundraising, pipeline monitoring), middle-office solutions (portfolio monitoring, investor portals), and back-office functions (fund administration and accounting). eFront serves over 700 institutional customers and 100,000 users across 40 countries, including major private equity firms, real estate investors, banks, and insurance companies. Its business model relies on high-value software subscriptions fueled by the increasing regulatory burden and the institutionalization of alternative asset classes.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2014

2013

Other operations with Efront

Other operations with Efront
Date	Acquirer	Target	Country	Sector
05/2019	BLACKROCK	EFRONT	FRANCE	Financial Services / Banking

Other operations with Bridgepoint

Other operations with Bridgepoint
Date	Acquirer	Target	Country	Sector
10/2018	BRIDGEPOINT	HTL BIOTECHNOLOGY	FRANCE	CDMO
01/2017	BRIDGEPOINT	ZENITH	UNITED KINGDOM	Fleet Management Finance
12/2016	BRIDGEPOINT	ROVENSA	PORTUGAL	Specialty Chemicals
11/2016	BRIDGEPOINT	VITAMIN WELL	SWEDEN	Soft Drinks
06/2016	BRIDGEPOINT / RAISE / FLEXSTONE PARTNERS	ACTEON	FRANCE	Medical Devices
12/2015	BRIDGEPOINT	ELEMENT MATERIALS TECHNOLOGY	UNITED KINGDOM	TIC (Testing, Inspection, Certification)
12/2014	BRIDGEPOINT	AZZURRI GROUP	UNITED KINGDOM	Restaurants / Chains
05/2013	BRIDGEPOINT	FLEXITALLIC GROUP	UNITED STATES	Components
03/2010	BRIDGEPOINT	CARE UK	UNITED KINGDOM	Nursing Homes
02/2010	BRIDGEPOINT	LGC GROUP	UNITED KINGDOM	TIC (Testing, Inspection, Certification)

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REFERENCES

Valuation range: EV €300–700M

Revenue range: €50–100M

EBITDA range: €10–30M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

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

Target: efront

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Efront, a French company specialised in Industry-Specific Software, by Bridgepoint in 2015, structured as a leveraged buyout (LBO). Ownership has since evolved, leading to a subsequent transaction with Blackrock in May 2019 (see the dedicated deal page for details).

How was the acquisition of Efront by Bridgepoint valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were Efront’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Efront generated annual revenue estimated in the €50–100M range and EBITDA in the €10–30M bracket (FY 2014). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

What is mynth?

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