Context
Eurazeo PME has acquired a 57% majority stake in Cap Vert Finance (now Evernex). This transaction replaces the previous minority financial partner, Atria Capital Partenaires, which had supported the company in an initial MBO. The management team, led by the founder and managers, retains a significant minority stake (~43%). The deal aims to accelerate international expansion and double the company's size within 5 years.
It is worth noting that the fund Atria Capital Partenaires took control of Evernex through an LBO in 2011.
EVERNEX, which reported an EBITDA margin of in 2012, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).
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Target
Evernex operates as a third-party maintenance (TPM) provider specializing in data center infrastructure management. Headquartered in Paris, France, the company’s business model centers on delivering multi-vendor maintenance, repair, and operational support for servers, storage systems, and networking equipment. As an alternative to original equipment manufacturer (OEM) servicing, the platform allows corporate clients to optimize IT asset lifecycle management, delay hardware replacement cycles, and reduce infrastructure maintenance expenditures. In 2026, Evernex supports over 5,600 customers across more than 160 countries. Its service portfolio includes hardware buy-back programs, secure data erasure, IT asset disposal (ITAD) compliant with WEEE directives, and infrastructure relocation logistics. By maintaining a centralized technical framework capable of supporting legacy equipment from manufacturers such as Dell, IBM, HPE, and Cisco, Evernex integrates circular economy principles into corporate data center operations.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with EVERNEX
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2019 | 3I | EVERNEX | FRANCE | MSP (Managed Services) |
| 07/2017 | EVERNEX | CAT SISTEMAS | SPAIN | MSP (Managed Services) |
| 06/2017 | EVERNEX | TTS FRANCE | FRANCE | IT Services |
| 07/2015 | THE CARLYLE GROUP | EVERNEX | FRANCE | MSP (Managed Services) |
| 01/2011 | ATRIA CAPITAL PARTENAIRES | EVERNEX | FRANCE | MSP (Managed Services) |
REFERENCES
Valuation range: EV 50M - 150M EUR
Revenue range: 50M - 100M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: evernex
Acquirer: eurazeo