Context

NextStage AM acquired a minority stake (slightly over 30%) in Emargence for a ticket exceeding €10 million. The four founding partners retain majority control. The transaction, negotiated by Eurvad, values the firm at a premium multiple reflecting the high quality of its diversified service mix. Supported by a senior debt package from BNP Paribas, CIC, and Bred (leveraged at ~3x EBITDA), the deal aims to transform Emargence into a major regional leader. The strategic roadmap includes a "capex line" to acquire at least three firms per year, with the goal of tripling the firm’s EBITDA within five years.

Target

Founded by four senior partners, Emargence is a prominent Parisian accounting and advisory firm. It differentiates itself from traditional practices through a high degree of diversification; the majority of its turnover is generated from high-value-added services such as Consulting, Transaction Services, and Audit, alongside its historical accounting and payroll pillars. The firm recently integrated the AMPW practice and has positioned itself as a consolidator in the Île-de-France region, leveraging digital innovation and AI to optimize professional workflows.