GROUPE PASSMAN acquired by LBO FRANCE

Following a secondary leveraged buyout (LBO) transaction, Passman has come under the control of LBO France, a leading private equity firm. The investment was made through LBO France's Small Cap Opportunities vehicle, which has acquired a majority stake in the company. The founders will retain a significant stake in the business and continue to be involved in its operational management, ensuring continuity in the company's leadership. Historically focused on the hospitality sector, Passman has successfully expanded its offerings to other environments, including campsites, healthcare facilities, and shopping centers. The group develops and implements local network management and internet access solutions, with a strong emphasis on service quality and connection performance. This diversification is part of a broader growth strategy aimed at strengthening the company's international presence, particularly in Southern Europe, Africa, and the Americas, where it already has a foothold. LBO France emerged as the winning bidder after a highly competitive process involving several prominent investors, including Parquest Capital, Motion Equity Partners, and B& Capital. The transaction, which saw the exit of Siparex and the reinvestment of ActoMezz with €15 million in equity and mezzanine debt, was valued at a multiple of EBITDA exceeding 7.0x. This investment underscores LBO France's confidence in Passman's growth potential and its commitment to supporting the company's continued expansion and development.

Previously, the company had already undergone several LBOs, notably led by Siparex / RhôNes-Alpes Pme in 2010 and Andera Partners in 2014. This succession of buyouts, combined with an active build-up strategy, highlights the strong attractiveness of the company's business model.