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02/2026MinorityLBO

Nextstage invests in Emargence

FRANCE Professional Services / Consulting & Audit / Accounting & Audit EV €20–50M

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.

Emargence, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average currently observed in the Business Services sector (11.5x in 2026).

-> Deep-dive in Business Services market trends

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.

Ent. Value

€20–50M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
€10–30M
€0–5M
[members only]
2024
€10–30M
€0–5M
[members only]

Other operations with Nextstage

Other operations with Nextstage
DateAcquirerTargetCountrySector
10/2026NEXTSTAGECORAVIAFRANCEMedical Consumables
09/2026NEXTSTAGE / SOCADIFGROUPE PIERRE YOVANOVITCHFRANCEHigh-End Lifestyle
09/2026NEXTSTAGEDOMAINE DE CHEZELLESFRANCEFood Products
03/2026NEXTSTAGESOCIÉTÉ DES EAUX MINÉRALES D’ARCACHON (SEMA)FRANCESoft Drinks
12/2024NEXTSTAGE / IK PARTNERSEUROBIO SCIENTIFICFRANCEDiagnostic Equipment
10/2024NEXTSTAGEPEERSGROUPFRANCEStrategy & Management
04/2019NEXTSTAGE / MI3GROUPE BAGATELLEFRANCERestaurants / Chains

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REFERENCES

Valuation range: EV €20–50M

Revenue range: €10–30M

EBITDA range: €0–5M

EV/Revenue range: 1x - 3x

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 Emargence by Nextstage 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.

Press release: view release

Acquirer: nextstage

FAQ

What transaction does this page cover?

This page covers the acquisition of a minority stake in Emargence, a French company specialised in Consulting & Audit, by Nextstage in 2026, structured as a leveraged buyout (LBO).

How was the acquisition of Emargence by Nextstage valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €20–50M band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

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

At the time of the transaction, Emargence generated annual revenue estimated in the €10–30M range and EBITDA in the €0–5M bracket (FY 2025). Detailed financial figures are available to members.

How does the valuation of Emargence compare to benchmarks in the Business Services sector?

With an estimated multiple range of 10x - 18x, the transaction stands directly in line with historical averages for the Business Services sector (11.5x in 2026).

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.