Capital Croissance, a French growth equity firm, entered the capital of Onatera through a growth equity transaction structured as a capital reorganization and recapitalization. The deal involves an equity injection alongside a reshuffling of existing shareholders, with Capital Croissance taking the place of exiting shareholder Entrepreneur Venture, which had entered the company in 2015. The operation is designed to support Onatera’s next phase of expansion, including business model evolution, geographic reach, and potential external growth opportunities. The funds are intended to finance initiatives such as the deployment of physical retail locations, international development, and further optimization of the digital and logistics infrastructure. From a strategic standpoint, the transaction provides Onatera with both capital and advisory support from an investor club composed of entrepreneurs and family offices, reinforcing governance and access to networks.

ONATERA, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level around LOGIN higher than the average currently observed in the Retail & Consumer sector (11.0x).

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