mynth
08/2023100%

Openwork acquired by Freelance.com

FRANCE Professional Services / HR & Capital / Temp Work / Staffing REV €50–100M

Context

The acquisition of OpenWork allows Freelance.com to absorb one of its most innovative competitors, effectively merging OpenWork’s digital-first platform with Freelance.com’s large-scale institutional reach. The strategic rationale for the deal is rooted in the complementary nature of their service offerings and geographic footprints, particularly with the integration of OpenWork’s Belgian operations into Freelance.com’s existing international network in Switzerland and Morocco. By combining their commercial and marketing resources, the new group achieves a stronger position to manage different tiers of consultants through a multi-brand strategy. The partnership is expected to drive higher operational margins through the optimization of shared digital tools and a centralized administrative structure at the group’s headquarters. For OpenWork, the integration provides access to a broader range of B2B resource management services, while for Freelance.com, it reinforces its technical leadership in the "Portage Salarial" sector. This merger highlights the ongoing trend of professionalizing the freelance economy, where scale and specialized digital interfaces are critical for capturing market share in the rapidly growing professional services outsourcing industry.

Openwork, which reported an EBITDA margin of [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of [members only].

-> Deep-dive in Business Services market trends

Target

OpenWork is a leading French specialist in "Portage Salarial" (umbrella company services), ranking among the top five players in the domestic market. The company provides an integrated platform designed to simplify the administrative, fiscal, and social management of independent consultants while granting them the legal protections of salaried status. Its business model is characterized by a "capped-fee" service offer and a high-performance digital ecosystem, including both web and mobile interfaces that automate back-office tasks for freelancers. With a strong presence in France and a growing international subsidiary in Belgium, OpenWork serves over 1,200 active independent professionals. Strategically, the firm acts as a business accelerator for consultants, offering a streamlined digital-first experience that reduces operational friction and enhances the security of the self-employed workforce.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2022
€50–100M
[members only]
[members only]
2021
€50–100M
[members only]
[members only]

Other operations with Freelance.com

Other operations with Freelance.com
DateAcquirerTargetCountrySector
02/2024FREELANCE.COMSTA GROUPEFRANCETemp Work / Staffing
10/2021FREELANCE.COMHELVETIC PAYROLLSWITZERLANDTemp Work / Staffing

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REFERENCES

Revenue range: REV €50–100M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Openwork by Freelance.com 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 Freelance.com’s acquisition of 100% of Openwork, a French company specialised in HR & Capital, in 2023.

What was Openwork’s revenue at the time of the deal?

At the time of the transaction, Openwork’s annual revenue was estimated within the €50–100M range (FY 2022). Detailed financial figures are available to members.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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