At what enterprise value was HARVEST acquired in 2018?

During the acquisition of HARVEST by FIVE ARROWS in 2018, the transaction's Enterprise Value is estimated to be in the range of 100M - 350M EUR.

What was the EV/EBITDA of HARVEST when it was acquired by FIVE ARROWS?

The estimated EV/EBITDA multiple for HARVEST is in the range of Above 20x.

When was HARVEST acquired by FIVE ARROWS?

HARVEST was acquired by FIVE ARROWS in 2018.

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

The revenue of HARVEST at the time of the deal is estimated to be in the range of 10M - 30M EUR.

What was the EBITDA of HARVEST during the acquisition?

HARVEST's EBITDA is estimated to be in the range of 0M - 5M EUR.

How is the data for the HARVEST 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 HARVEST 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.cfnews.net/L-actualite/Bourse/Operations/OPA-OPR/Harvest-rejoint-un-fonds-non-cote-286134

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.

← DATABASE

Home Database TMT (Tech, Media, Telecom)HARVEST

12/2018

HARVEST acquired by FIVE ARROWS

FRANCE Software / Industry-Specific Software / Financial Services / Banking EV 100M - 350M EUR

Context

Five Arrows announced the acquisition of a majority block of Harvest's capital from its foundersand key managers at a price of EUR85 per share. This block purchase triggered a mandatory simplified public tender offer (OPA) for the remaining shares. This deal marks the first step towards the company's delisting.

HARVEST, which reported an EBITDA margin of in 2018, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).

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

Target

Founded in 1989, Harvest is the leading French software publisher for wealth management professionals. Its SaaS platforms enable bankers, insurers, and independent financial advisors (IFAs) to perform tax simulations, compliance checks, and portfolio analysis. Under Five Arrows' ownership, the group expanded significantly, notably acquiring Quantalys (fund data) and Fidroit (training/consulting). With 500 employees across France and Italy, Harvest serves over 4,600 clients.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2018

2017

Other operations with HARVEST

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
01/2026	HARVEST	FIRSTANCE	ITALY	Financial Services / Banking
05/2023	TA ASSOCIATES / MONTAGU PRIVATE EQUITY	HARVEST	FRANCE	Financial Services / Banking

REFERENCES

Valuation range: EV 100M - 350M EUR

Revenue range: 10M - 30M EUR

EBITDA range: 0M - 5M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of HARVEST by FIVE ARROWS 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: five arrows