mynth
07/2015

EVERNEX acquired by THE CARLYLE GROUP

FRANCE IT Services / Infrastructure & Cloud / MSP (Managed Services) EV 100M - 350M EUR

Context

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.

In the past, the company had already been the subject of several LBOs, notably led by Atria Capital Partenaires in 2011 and Eurazeo in 2013. This succession of buyouts highlights the strong attractiveness of the company's business model.

EVERNEX, which reported an EBITDA margin of in 2014, 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).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

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)

Year
Rev
EBITDA
EBIT
2014
2013

Other operations with EVERNEX

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
07/20193IEVERNEXFRANCEMSP (Managed Services)
07/2017EVERNEXCAT SISTEMASSPAINMSP (Managed Services)
06/2017EVERNEXTTS FRANCEFRANCEIT Services
07/2013EURAZEOEVERNEXFRANCEMSP (Managed Services)
01/2011ATRIA CAPITAL PARTENAIRESEVERNEXFRANCEMSP (Managed Services)

REFERENCES

Valuation range: EV 100M - 350M 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 THE CARLYLE GROUP 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.

Target: evernex

Acquirer: the carlyle group