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02/2026MinorityGrowth

Elevation Capital Partners invests in Ocellus Groupe

FRANCE Media & Internet / Content & Publishing / Audiovisual Production EV €10–30M

Context

Elevation Capital Partners invested €4 million in Ocellus through its Elevation Growth vehicle, marking the first-ever opening of Ocellus's capital to an external investor. The fundraise was managed by placement agent Talaria Capital. The proceeds will be used to accelerate the development of Ocellus Games, enabling the group to achieve in two to three years what it could have self-financed over five to six years. The near-term roadmap includes the launch of a first Trading Card Game (TCG) within two years and the development of a demo for a higher-budget action-adventure game within one year, alongside continued expansion of Ocellus Services into adjacent offerings including project management, game prototyping, audio integration, sound effects, and cinematics production.

Ocellus Groupe, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x in 2026).

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

Target

Ocellus is a Lyon-based creative studio founded in 2018 , operating across two complementary business lines: (1) Ocellus Services, the group's historical core activity providing premium human-made art design services to major global video game publishers, including Epic Games (Fortnite), Supercell (Clash Royale, Brawl Stars), and Disney and (2) Ocellus Games, a studio division launched in 2022 dedicated to the development and publication of the group's own proprietary video game intellectual properties (IP).

Ent. Value

€10–30M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
€5–25M
[members only]
[members only]
2024
€5–25M
[members only]
[members only]

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REFERENCES

Valuation range: EV €10–30M

Revenue range: €5–25M

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 Ocellus Groupe by Elevation Capital 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.

Target: ocellus groupe

Acquirer: elevation capital partners

FAQ

What transaction does this page cover?

This page covers the acquisition of a minority stake in Ocellus Groupe, a French company specialised in Content & Publishing, by Elevation Capital Partners in 2026, structured as a growth equity investment to support its development.

How was the acquisition of Ocellus Groupe by Elevation Capital Partners valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €10–30M band and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What was Ocellus Groupe’s revenue at the time of the deal?

At the time of the transaction, Ocellus Groupe’s annual revenue was estimated within the €5–25M range (FY 2025). Detailed financial figures are available to members.

How does the valuation of Ocellus Groupe compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

Transaction multiples for this specific deal are exclusively reserved for mynth members. Nevertheless, transactions tracked by mynth in this sector reveal an average benchmark multiple of 14.6x EBITDA during 2026.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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.