mynth
← DATABASE
10/2024Majority

Capza takes majority stake in JVS Group

FRANCE Software / Industry-Specific Software EV €100–350M

Context

Following a competitive process led by Oaklins, JVS Group completed its fourth LBO, marking the exit of Parquest, which had been an investor since 2020. Capza invested over €55m (primarily through mezzanine debt and bond tools), while Bpifrance reinvested €6m. Together, the financial investors hold approximately 20% of the capital, leaving nearly 80% of the equity in the hands of a team of 12 managers. This "relution" operation allows the management to significantly increase its control. The transaction is supported by senior debt from the company's historical banking pool. The primary objective is to move to a "higher gear" in external growth, targeting software publishers with functional synergies to consolidate JVS’s strategic position with French municipalities.

In the past, JVS Group was acquired by Parquest Capital / Bpifrance in 2020 as part of its expansion strategy.

JVS Group, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.

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

Target

JVS Group is a specialized software editor providing management suites for French local public authorities and town halls. The company’s business model focuses on digitizing administrative functions, infrastructure management (energy, water), and Citizen Relationship Management (CRM). Its value proposition centers on offering a localized, comprehensive ecosystem of digital services that streamline the interactions between city councils and citizens. Strategically, JVS has transitioned toward a SaaS-based model and expanded its portfolio through an active buy-and-build strategy, targeting niche segments like childcare services (Be Attractive) and field service management (Sistec). As of 2019, the group employed 300 staff and served a growing market driven by the public sector's digital transformation.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€25–50M
€5–25M
[members only]
2023
€25–50M
€5–25M
[members only]

Other operations with JVS Group

Other operations with JVS Group
DateAcquirerTargetCountrySector
04/2020PARQUEST CAPITAL / BPIFRANCEJVS GROUPFRANCEIndustry-Specific Software

Other operations with Capza

Other operations with Capza
DateAcquirerTargetCountrySector
07/2025CAPZADI ENVIRONNEMENTFRANCEHazardous Waste
12/2024CAPZAIMDEVFRANCERadiology
06/2024L-GAM / CAPZA / IDIA CAPITAL INVESTISSEMENTPSV GROUPFRANCERadiology
01/2024CAPZAASYSFRANCEERP, HR & Finance
10/2023CAPZATRAVELSOFTFRANCETravel & Hospitality
06/2023CAPZAARLETTIEFRANCESpecialized Retail
03/2022CAPZAWIFIRSTFRANCEOperators
10/2021CAPZAEDUSERVICESFRANCEEducation Providers
09/2021PARQUEST CAPITAL / CAPZAADVENSFRANCECybersecurity Services
07/2021CAPZANOVARCFRANCEComponents

Similar deals in Software

Similar deals in Software
DateAcquirerTargetCountrySector
11/2024SOGELINKNETISYSFRANCEIndustry-Specific Software
11/2024CREDIT MUTUEL EQUITYTOPSOLIDFRANCEEngineering & Design Software
10/2024SESA GROUPSMART ENGINEERINGGERMANYEngineering & Design Software
10/2024SAGARDFUTUR MASTERFRANCESupply Chain & Ops
10/2024VERTISEITVISUAL ART SWEDENSWEDENMarTech
10/2024BONNIER CAPITALVERTISEITSWEDENMarTech
10/2024GROUPE LACOURDRAGON2000UNITED KINGDOMAutomotive
10/2024CARASENTDATA-ALGERMANYHealthcare
10/2024VAISALANEVIS TECHNOLOGYUNITED KINGDOMIndustry-Specific Software
10/2024TOMRAC-TRACEGERMANYIndustry-Specific Software

REFERENCES

Valuation range: EV €100–350M

Revenue range: €25–50M

EBITDA range: €5–25M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of JVS Group by Capza 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.

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in JVS Group, a French company specialised in Industry-Specific Software, by Capza in 2024. This followed an earlier holding cycle initiated in April 2020, when the company was acquired by Parquest Capital / Bpifrance.

How was the acquisition of JVS Group by Capza valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €100–350M band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were JVS Group’s revenue and EBITDA at the time of the deal?

At the time of the transaction, JVS Group generated annual revenue estimated in the €25–50M range and EBITDA in the €5–25M bracket (FY 2024). Detailed financial figures are available to members.

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.