Cobepa takes majority stake in Exclusive Networks Group
Context
The acquisition of a majority stake in Exclusive Networks by a consortium led by Cobepa marks a significant milestone in the group's international expansion. This transaction facilitated the exit of Omnes Capital and Socadif, while Edmond de Rothschild Investment Partners (EdRIP) and the management team chose to reinvest alongside the new lead shareholder. The strategic rationale for the deal is centered on accelerating the group's trajectory toward becoming a global multi-billion euro entity. Having already established a dominant position in the EMEA region through a highly specialized service model, Exclusive Networks sought a partner capable of supporting its next phase of global consolidation. The competitive process involved numerous international private equity firms, reflecting the high market interest in the cybersecurity distribution sector. The new capital structure is designed to provide maximum flexibility for external growth, particularly in under-penetrated geographic zones. Under this new ownership, the group maintains its focus on disruptive technologies, leveraging its "Value-Added" platform to maintain superior margins compared to traditional volume distributors. The partnership also includes the implementation of a significant financing package to fund immediate capital expenditures and strategic add-on opportunities identified across the globe.
Exclusive Networks Group, which reported an EBITDA margin of [members only] in 2014, is valued in this transaction at an EV/EBITDA multiple of 5x–12x.
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Target
Founded in 2003, Exclusive Networks is a global "Value-Added Distributor" (VAD) specializing in cybersecurity and cloud solutions. The group acts as a strategic intermediary, accelerating the market entry and growth of innovative IT vendors across the fragmented EMEA region and beyond. Its business model goes beyond traditional distribution by providing high-value services such as technical support, marketing, customer evangelization, and leasing solutions. By partnering with disruptive US-based security vendors, Exclusive Networks enables them to gain rapid access to international markets through its extensive network. Strategically, the company relies on a strong entrepreneurial culture and a proven ability to identify high-growth technologies, positioning itself as the privileged partner for ambitious IT firms wishing to expand their global footprint across five continents.
Ent. Value
€300–700M
Equity Value
[members only]
Multiples
EV / Revenue
below 1.5x
EV / EBITDA
5x–12x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with Exclusive Networks Group
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 04/2018 | PERMIRA | EXCLUSIVE NETWORKS GROUP | FRANCE | IT Distribution & Channel |
Other operations with Cobepa
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 11/2021 | COBEPA | GROUPE CLIMATER | FRANCE | HVAC |
| 01/2020 | COBEPA | GERFLOR | FRANCE | Flooring |
| 12/2018 | COBEPA | SCALIAN | FRANCE | Consulting & Integration |
| 12/2012 | COBEPA | SOCOTEC | FRANCE | TIC (Testing, Inspection, Certification) |
Similar deals in IT Services
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2016 | EQUISTONE / GEI | ADISTA | FRANCE | MSP (Managed Services) |
| 06/2016 | RANDSTAD | AUSY | FRANCE | Consulting & Integration |
| 07/2015 | THE CARLYLE GROUP | EVERNEX | FRANCE | MSP (Managed Services) |
| 02/2015 | ALTRAN TECHNOLOGIES | NSPYRE | NETHERLANDS | Custom Dev |
| 08/2014 | GEMALTO | SAFENET | UNITED STATES | Cybersecurity Services |
| 05/2014 | GFI INFORMATIQUE | AIRIAL | FRANCE | Custom Dev |
| 10/2013 | NTT DATA CORPORATION | EVERIS GROUP | SPAIN | Custom Dev |
| 07/2013 | EURAZEO | EVERNEX | FRANCE | MSP (Managed Services) |
| 01/2011 | ATRIA CAPITAL PARTENAIRES | EVERNEX | FRANCE | MSP (Managed Services) |
| 05/2010 | APAX PARTNERS | TIVIT | BRAZIL | MSP (Managed Services) |
REFERENCES
Valuation range: EV €300–700M
Revenue range: €450–900M
EBITDA range: €25–50M
EV/Revenue range: below 1.5x
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 Exclusive Networks Group by Cobepa 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: exclusive networks group
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