At what enterprise value was FMA GROUP (FMA ASSURANCES) acquired in 2026?

During the acquisition of FMA GROUP (FMA ASSURANCES) by SYNEX PERFORMANCE D'AFFAIRES in 2026, the transaction's Enterprise Value is estimated to be in the range of 100M - 350M EUR.

What was the revenue of FMA GROUP (FMA ASSURANCES) at the time of the deal?

The revenue of FMA GROUP (FMA ASSURANCES) at the time of the deal is estimated to be in the range of 25M - 50M EUR.

How is the data for the FMA GROUP (FMA ASSURANCES) 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 FMA GROUP (FMA ASSURANCES) 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://capitalfinance.lesechos.fr/deals/sortie/21-invest-revend-fma-au-canadien-synex-2219137

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Home Database Financial ServicesFMA GROUP (FMA ASSURANCES)

03/2026

FMA GROUP (FMA ASSURANCES) acquired by SYNEX PERFORMANCE D'AFFAIRES

FRANCE Brokerage EV 100M - 350M EUR

Context

21 Invest sold its controlling stake in FMA Group to Canadian insurance broker Synex Performance d'Affaires after approximately six years of ownership. Founder Ludovic Dumont sold a portion of his shares but retained a significant minority stake in the business, while a small portion of capital remains with the management team. The sale process was mandated to investment bank Cambon in summer 2025 and attracted interest from both financial sponsors and strategic buyers. Despite an initial preference for a financial sponsor — given Dumont's desire to remain at the capital — Synex's offer ultimately prevailed as the superior bid, combining an industrial valuation premium with a shareholder structure accommodating Dumont's continued involvement.

Previously, Fma Group had been acquired in an LBO by 21 Invest in 2019.

FMA GROUP (FMA ASSURANCES), which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Financial Services sector (12.5x).

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Target

FMA Group is a French insurance broker originally specialised in two-wheeler insurance, which significantly diversified its offering through five bolt-on acquisitions during 21 Invest's ownership. The group expanded into health insurance, mobility insurance (via the acquisition of Auvray Security), and corporate insurance (via the acquisition of Ouest Assurance), transforming itself from a niche mono-line broker into a multi-specialty insurance brokerage platform.

Ent. Value

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EV / Revenue

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EV / EBIT

Historical Financials (EUR)

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2025

2024

Other operations with FMA GROUP (FMA ASSURANCES)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
04/2019	21 INVEST	FMA GROUP (FMA ASSURANCES)	FRANCE	Brokerage

REFERENCES

Valuation range: EV 100M - 350M EUR

Revenue range: 25M - 50M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of FMA GROUP (FMA ASSURANCES) by SYNEX PERFORMANCE D'AFFAIRES 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: fma group (fma assurances)