EUROPEAN DIGITAL GROUP (EDG) acquired by LATOUR CAPITAL
Context
Latour Capital has successfully completed the capital reorganization of European Digital Group, acquiring a 30% stake alongside historical partner Montefiore Investment. This "LBO Bis" transaction, orchestrated by Lazard, was highly competitive, attracting interest from major funds such as Towerbrook and Marlin Equity Partners. The deal is strictly engineered to fuel a massive scale-up phase, aiming to quadruple the group’s revenue from €250M to €1Bn by 2028. To adequately capitalize this ambition, a senior debt package was arranged by a syndicate including CACIB, La Banque Postale, BNP Paribas, and Allianz, representing a leverage of approximately 4x EBITDA. This new funding cycle focuses on aggressive internationalization—targeting 35% of revenue from abroad by 2028—and the continued acquisition of specialists, particularly Salesforce and ServiceNow integrators.
EUROPEAN DIGITAL GROUP (EDG), which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.3x).
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Target
Founded in 2019 in partnership with Montefiore Investment, European Digital Group (EDG) is a leading, ultra-specialized platform dedicated to digital acceleration and transformation. Operating as a high-growth federation of numerous expert companies the group offers a comprehensive suite of B2B technological services across five strategic pillars: digital marketing, online content, Data & AI, HR tech, and cybersecurity/IT services. The enterprise is built upon a highly successful, continuous buy-and-build strategy, positioning itself as a key market consolidator in a fragmented ecosystem.
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Historical Financials (EUR)
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| 06/2023 | TOWERBROOK / BANIJAY GROUP | THE INDEPENDENTS | FRANCE | Media & Internet | The Independents finalized a $400 million fundraising round led by TowerBrook and FL Entertainment, representing a massive secondary leveraged growth operation. This investment, which followed a successful debt financing round led by BIL, Société Générale, and others, is intended to accelerate the group's international expansion and acquisition strategy. The group's ambition is to more than double in size by 2025. The deal allowed for the exit of Cathay Capital while providing the financial backing for the group to further consolidate its position as a "one-stop-shop" partner for iconic luxury brands worldwide. |
| 05/2023 | TOWERBROOK | INFOPRO DIGITAL | FRANCE | Media & Internet | This transaction represents a renewed leveraged buyout where the incumbent private equity majority shareholder reinvests through its latest flagship fund to maintain absolute corporate control. The operation is executed in seamless alignment with the founding executive and the broader management team, who remain deeply involved in the capital structure. This strategic capital reorganization provides renewed stability and enhanced financial capabilities without altering the existing governance. The primary rationale underpinning this renewed partnership is to aggressively accelerate the company's geographic expansion through a balanced combination of robust organic growth and targeted external acquisitions. |
| 12/2022 | LAVAZZA | MAXICOFFEE | FRANCE | Media & Internet | Lavazza announced the acquisition of 100% of the share capital of MaxiCoffee, France’s leading coffee‑focused online and multi‑channel platform, with a view to strengthening its position in the French market and expanding its e‑commerce footprint. The transaction is structured as a full‑control purchase, with Lavazza becoming the majority owner while current founder and Chairman Christophe Brancato retains a minority stake and continues to lead the company at the operational level. Lavazza’s rationale is to embed a leading French multi‑brand coffee retailer within its own international network, thereby gaining instant scale in B2C and B2B channels and accelerating its digital presence without diluting MaxiCoffee’s established business model. The deal is also aligned with the group’s broader strategy of diversifying its Go‑to‑Market approach, integrating retail and e‑commerce expertise into a largely brand‑and‑manufacturing‑oriented portfolio. |
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| 12/2021 | CONSTELLATION AUTOMOTIVE | CARNEXT | UNITED KINGDOM | Media & Internet | The acquisition of CarNext by Constellation Automotive Group creates a leading European digital used car marketplace, selling more than 2.5 million cars annually for a Gross Merchandise Value of €21bn. The combination of CarNext and Constellation expands the group's vertically integrated C2B, B2B, and B2C marketplace model across seven major European countries, allowing the group to reach unmatched scale. The addition of CarNext's proprietary data analytics and historic European used car transaction data will give Constellation an edge in terms of data and technology excellence. The deal is expected to further boost Constellation's growth across the UK and continental Europe, and comes after the combined group raised more than €2bn this year. The acquisition will allow Constellation to combine the scale of its respective marketplaces to lead the digital transformation of the used car market across Europe. |
| 12/2021 | SOCIETE GENERALE CAPITAL PARTENAIRES | LAFRETO OUTDOOR (GLISS SHOP) | FRANCE | Media & Internet | Societe Generale Capital Partenaires (SGCP) invested EUR1.5 million into the holding company of Groupe LAFRETO. This capital injection is strategically aimed at reducing the group's seasonality exposure. Historically dominant in winter sports, the group has set a target to balance its revenue stream to a 50/50 split between winter and summer activities (leveraging its Golf and Water Sports divisions). The funds will also accelerate international expansion—currently, only the Glisshop brand has a significant footprint outside France (35% of sales) in markets like the UK, Germany, and Spain. Furthermore, the investment supports a recruitment plan for 20 positions and potential future external growth operations. |
| 04/2021 | HIVEST CAPITAL PARTNERS | VIDELIO | FRANCE | Media & Internet | This transaction is a public-to-private leveraged buyout. The newly formed consortium, acting in concert, signed a binding investment protocol to execute a simplified tender offer aimed at acquiring all outstanding floating shares and delisting the target from the stock exchange. The complex operational structure involves the incoming private equity firm directly acquiring a significant minority stake in the listed entity, coupled with a simultaneous direct equity injection and share purchase within the historical owners' overarching holding company. Together, the concerted parties aim to secure absolute total control over the enterprise. |
REFERENCES
Revenue range: 250M - 500M EUR
EBITDA range: 50M - 100M EUR
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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
Acquirer: latour capital