EVOLIS has been 100% owned by HID GLOBAL since September 2023.

At what enterprise value was EVOLIS acquired in 2023?

During the acquisition of EVOLIS by HID GLOBAL in 2023, the transaction's Enterprise Value is estimated to be in the range of €100–350M.

What was the EV/EBITDA of EVOLIS when it was acquired by HID GLOBAL?

The estimated EV/EBITDA multiple for EVOLIS is in the range of 5x - 12x.

What was the EV/Revenue multiple of EVOLIS when it was acquired by HID GLOBAL?

The estimated EV/Revenue multiple for EVOLIS is in the range of 1x - 3x.

When was EVOLIS acquired by HID GLOBAL?

EVOLIS was acquired by HID GLOBAL in 2023.

What was the revenue of EVOLIS at the time of the deal?

The revenue of EVOLIS at the time of the deal is estimated to be in the range of €100–200M.

What was the EBITDA of EVOLIS during the acquisition?

EVOLIS's EBITDA is estimated to be in the range of €10–30M.

How is the data for the EVOLIS acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the EVOLIS deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.hidglobal.com/documents/hid-global-sas-relatif-loffre-publique-dachat-simplifiee-visant-les-actions-de-la-societe

What is the average EV/EBITDA multiple for the TMT (Tech, Media, Telecom) sector in 2026?

The average EV/EBITDA multiple for the TMT (Tech, Media, Telecom) sector in 2026 is 14.7x.

← DATABASE

Home Database TMT (Tech, Media, Telecom)EVOLIS

09/2023

EVOLIS acquired by HID GLOBAL

FRANCE Hardware & Electronics / IT Equipment / IoT & Connected Objects EV €100–350M

Context

HID Global completed the acquisition of approximately 98.5% of Evolis through a two-step process. First, HID acquired a majority block of 98.5% of the shares from the founding shareholders (Cedys & Vesta) and certain managers at a price of EUR43.75 per share. Following this block trade, HID launched a mandatory simplified tender offer for the remaining minority shares at the same price. Having surpassed the 90% ownership threshold, HID implemented a squeeze-out and delisted Evolis from Euronext Growth. The acquisition allowed HID to significantly expand its printer portfolio and geographic reach in the secure identification market.

EVOLIS, which reported an EBITDA margin of [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, a level significantly lower than the average currently observed in the TMT (Tech, Media, Telecom) sector (14.7x).

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

Target

Evolis is a leading global developer and manufacturer of decentralized solutions for identifying people and assets. The company specializes in the design, manufacture, and commercialization of card printers and software for personalizing plastic cards (ID cards, payment cards, transport passes). With manufacturing operations in France (Angers) and a global distribution network, Evolis serves markets ranging from government and education to banking and retail. At the time of the transaction, the group operated across multiple continents and maintained a dominant position in the "entry-level" and "mid-range" card printer segments.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

5x–12x

EV / EBIT

5x–12x

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2022

2021

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07/2023	CHARTERHOUSE	SAGEMCOM	FRANCE	IoT & Connected Objects
07/2023	SIPAREX	GROUPE PASSMAN	FRANCE	IT Equipment
05/2023	SDI GROUP	PEAK SENSORS	UNITED KINGDOM	Sensors & Optics
05/2023	THE CARLYLE GROUP	MEOPTA-OPTIKA	CZECH REPUBLIC	Sensors & Optics
09/2022	ARKEA CAPITAL / SOCIETE GENERALE CAPITAL PARTENAIRES / BNP PARIBAS DEVELOPPEMENT	ACB GROUP	BELGIUM	Electronic Components
08/2022	NORDSON CORPORATION	CYBEROPTICS	UNITED STATES	Sensors & Optics
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REFERENCES

Valuation range: EV €100–350M

Revenue range: €100–200M

EBITDA range: €10–30M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of EVOLIS by HID GLOBAL 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: evolis