At what enterprise value was GROUPE CDS acquired in 2025?

During the acquisition of GROUPE CDS by ANDERA PARTNERS in 2025, the transaction's Enterprise Value is estimated to be in the range of 300M - 700M EUR.

When was GROUPE CDS acquired by ANDERA PARTNERS?

GROUPE CDS was acquired by ANDERA PARTNERS in 2025.

What was the revenue of GROUPE CDS at the time of the deal?

The revenue of GROUPE CDS at the time of the deal is estimated to be in the range of 450M - 900M EUR.

How is the data for the GROUPE CDS 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 GROUPE CDS 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/lbo/andera-partners-se-reserve-groupe-cds-a-pres-de-300-meur-2146315

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 15.1x.

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Home Database TMT (Tech, Media, Telecom)GROUPE CDS

02/2025

GROUPE CDS acquired by ANDERA PARTNERS

FRANCE Media & Internet / E-commerce & Marketplaces EV 300M - 700M EUR

Context

Andera Partners acquires a majority stake in CDS Groupe, the French champion of business hotel booking solutions. This secondary LBO marks the exit of historical investors Siparex and Bpifrance. Ziad Minkara, the CEO, remains at the helm. With Andera's backing, CDS aims to accelerate its international expansion (particularly in Europe, targeting Italy and Germany) and potentially pursue new acquisitions to consolidate the fragmented business travel market.

GROUPE CDS, which reported an EBITDA margin of in 2024, 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

The French leader in the Hotel Booking Tool (HBT) market for business travel. Led by Ziad Minkara, the platform connects corporate clients and travel agencies with a vast inventory of hotels. It simplifies booking, payment, and invoicing processes. The group has grown significantly, notably through the acquisition of Rydoo's travel division in 2022.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2024

2023

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REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 450M - 900M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GROUPE CDS by ANDERA PARTNERS 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.

Acquirer: andera partners