mynth
07/2013

EVERNEX acquired by EURAZEO

FRANCE IT Services / Infrastructure & Cloud / MSP (Managed Services) EV 50M - 150M EUR

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.

As a reminder, the company had previously received an investment from Atria Capital Partenaires in 2011.

EVERNEX, which reported an EBITDA margin of LOGIN in 2012, 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 (14.1x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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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.

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Historical Financials (EUR)

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Other operations with EVERNEX

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
07/20193IEVERNEXFRANCEIT Services

3i Group has acquired a substantial majority stake in Evernex from Carlyle Europe Technology Partners (CETP). 3i pre-empted a planned auction process, having tracked the asset for over two years. The deal supports the management team, led by CEO Stanislas Pilot, in continuing their international buy-and-build strategy and diversifying their service offerings.

07/2017EVERNEXCAT SISTEMASSPAINIT Services

Evernex has acquired CAT Sistemas as part of its European buy-and-build strategy. This acquisition strengthens Evernex's footprint in Southern Europe (Spain) and consolidates its position as a leading independent maintainer.

06/2017EVERNEXTTS FRANCEFRANCEIT Services

Evernex has completed a targeted platform optimization by executing the 100% acquisition of TTS France, marking a strategic build-up within its technical services portfolio. This transaction follows the concurrent cross-border acquisition of the Spanish IT infrastructure maintenance specialist, CAT Sistemas. The acquisition thesis centers on absorbing highly specialized, niche engineering capabilities rather than expanding the revenue base through large-scale market share. TTS France injects a rare technical expertise in repairing tape drives, library storage units, and high-value data backup systems utilized heavily by laboratories. For Evernex, this service offering represents a high-margin, sticky vertical that is critical for corporate clients requiring sophisticated, long-term data archiving solutions. By integrating this specialized maintenance framework into its broader, international IT service platform, Evernex reinforces its end-to-end life-cycle management capabilities, driving organic cross-selling opportunities across its global enterprise customer base.

07/2015THE CARLYLE GROUPEVERNEXFRANCEIT Services

The Carlyle Group has acquired a majority stake in Cap Vert Finance from Eurazeo PME in a bilateral (OTC) transaction organized by Shibumi Corporate Finance. The deal values the company at EUR137 million. This "Tertiary LBO" sees management reinvesting significantly to retain ~1/3 of the capital. Eurazeo PME exits after only two years with a 39% IRR. The acquisition is supported by a debt package representing 4-5x EBITDA, including mezzanine debt from Capzanine.

01/2011ATRIA CAPITAL PARTENAIRESEVERNEXFRANCEIT Services

Cap Vert Finance has structured a minority Owner Buy-Out (OBO) transaction. Previously held by its founder, Loïc Villers, and three senior executives, the company is opening its share capital to AtriA Capital Partenaires, which is acquiring a significant minority stake through AtriA's Apef III fund. The transaction structures a senior debt package of 8m€ with a seven-year maturity tranche, initially underwritten by LCL with plans for subsequent syndication. The operational scope of the target includes a corporate workforce of 90 employees. The transaction is designed to fund Cap Vert Finance's growth roadmap and geographic expansion. The company, which operates across the IT equipment leasing, financing, refurbishing, recycling, and maintenance segments through its active subsidiaries (AS Lease, Alease, and IB Remarketing), intends to expand its market footprint across Europe, Asia, and South America with targeted corporate acquisitions.

REFERENCES

Valuation range: EV 50M - 150M EUR

Revenue range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of EVERNEX by EURAZEO are reserved for mynth community members. Register for free to unlock full data.

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).

Target: evernex

Acquirer: eurazeo