ESSENCES & PARFUMS
Acquired by
TRAJAN
ESSENCES & PARFUMS acquired by TRAJAN
Target
ESSENCES & PARFUMS
Acquirer
TRAJAN
Context
Trajan acquired a majority stake of less than 60% in Essences & Parfums to facilitate the founders' retirement and the company's succession. The founders rejected acquisition offers from corporate groups to preserve the brand's independence, opting instead for a financial partnership. The deal was structured as a competitive process involving several sponsors: Bpifrance and Smalt Capital acquired approximately 20% of the capital, the founders retained about 20%, and the new management team took a stake of less than 10%. The acquisition was financed via a two-tranche senior debt package and a lease-back arrangement for the company's real estate. The strategic plan focuses on ensuring a smooth leadership transition while exploring organic growth opportunities and potential build-ups to strengthen the group's international presence.
ESSENCES & PARFUMS, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 10.2x average currently observed in the Industry & Manufacturing sector.
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Target
Essences & Parfums is a specialized fragrance house providing bespoke aromatic compositions for the B2B market. The company excels in the creation and production of perfume concentrates used in fine perfumery and cosmetics. It has established a significant international footprint, particularly in high-growth regions such as the Middle East and Asia. Under recent management, the firm has professionalized its creative and commercial operations while maintaining its artisanal heritage, successfully positioning itself as a key supplier for international cosmetic and luxury brands.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with ESSENCES & PARFUMS
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 02/2026 | SAGARD | ESSENCES & PARFUMS | FRANCE | Flavors & Fragrances | Sagard acquired a majority stake in Essences & Parfums from Trajan, which exited the business alongside minority investors Bpifrance, Smalt Capital, and the original founders. The transaction, completed following a swift three-month competitive process managed by an investment bank, saw strong interest from both financial sponsors and industrial players. The current management team, led by President Samuel Desprets, significantly reinvested in the deal. The transaction was financed via a unitranche debt facility provided by Eurazeo. The strategic roadmap under Sagard's ownership focuses on establishing local offices in the Middle East and Asia to strengthen the group's regional proximity and launching an external growth strategy to consolidate the fragrance market. |
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