NOOUS acquired by SIPAREX
Context
Siparex Entrepreneurs and Bpifrance acquired a majority stake in NOOUS, marking the group's first opening of capital since its creation 25 years ago. The transaction orchestrates a managerial transition: historical founder retains a significant minority stake but passes the CEO role, while 8 key managers (7 of whom are women) invest in the company. The new funds and governance structure aim to accelerate NOOUS's development through organic expansion of its service offer and targeted external growth acquisitions to consolidate the fragmented HR consulting market.
NOOUS, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Business Services sector (11.4x).
-> Deep-dive in Business Services market trends
Target
NOOUS is a French consulting and outsourcing agency dedicated to Human Resources performance. Headquartered near Toulouse with 5 regional offices, the group employs 285 people and serves over 300 clients (Mid-caps and Key Accounts). NOOUS offers an integrated approach covering three pillars: HR Consulting & Engineering (strategy, compliance), Outsourcing (management of training plans, work-study programs, temp work), and Digital Solutions (via its proprietary software "Eleo"). The company differentiates itself by managing the entire administrative and strategic lifecycle of HR functions.
Ent. Value
€10–30M
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
Similar deals in Professional Services
Similar deals in Professional Services
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2025 | IDIA CAPITAL INVESTISSEMENT / SOCIETE GENERALE CAPITAL PARTENAIRES / SOCADIF / AMETHIS | GROUPE EIF | FRANCE | Consulting & Audit |
| 05/2025 | WARBURG PINCUS | Aztec Group | UNITED KINGDOM | Accounting & Audit |
| 04/2025 | CINVEN | Grant Thornton UK | UNITED KINGDOM | Accounting & Audit |
| 01/2025 | ANDERA PARTNERS | AYMING | FRANCE | Strategy & Management |
| 01/2025 | BLACKSTONE | CITRIN COOPERMAN | UNITED STATES | Accounting & Audit |
| 12/2024 | RIVEAN CAPITAL | Acture Group | NETHERLANDS | HR & Capital |
| 12/2024 | IK PARTNERS | Dains Accountants | UNITED KINGDOM | Accounting & Audit |
| 11/2024 | Knop Investments | GITP | NETHERLANDS | HR & Capital |
| 10/2024 | PROXER BIDCO | CAPMAN PROCUREMENT SERVICES (CAPS) | FINLAND | Strategy & Management |
| 10/2024 | TELEMOS CAPITAL | HELIOS GLOBAL GROUP | UNITED KINGDOM | Strategy & Management |
Other operations with SIPAREX
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 09/2026 | SIPAREX | Koalys | FRANCE | TIC (Testing, Inspection, Certification) |
| 03/2026 | SIPAREX | WINNCARE | FRANCE | Medical Devices |
| 03/2026 | SIPAREX | ATK SPORTS | ITALY | Outdoor |
| 01/2026 | SIPAREX | 123 ELEC | FRANCE | Specialized E-commerce |
| 01/2026 | SIPAREX / SOCADIF / BNP PARIBAS DEVELOPPEMENT | NOVAKAMP | FRANCE | Aerospace, Naval & Defense |
| 10/2025 | SIPAREX / BPIFRANCE | BRIFER (LA FERROVIAIRE DE LA BRIE) | FRANCE | Railways |
| 03/2025 | SIPAREX | LABORATOIRE POLIDIS | FRANCE | Medical Consumables |
| 07/2023 | SIPAREX | GROUPE PASSMAN | FRANCE | IT Equipment |
| 05/2023 | SIPAREX | SODIKART | FRANCE | Cycling & Micromobility |
| 07/2021 | SIPAREX | ALCATRAZ IT | FRANCE | Operators |
REFERENCES
Valuation range: EV €10–30M
Revenue range: €10–30M
EV/Revenue range: 1x - 3x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of NOOUS by SIPAREX 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: siparex