PAI PARTNERS takes majority stake in ARLETTIE
Context
Pre-eminent private equity firm PAI Partners has reached a definitive agreement to acquire a majority equity stake in Arlettie, partnering alongside the company's founders, Muryel Lanneau and Thibaut Caillemer du Ferrage. Executed as a tertiary leveraged buyout (LBO ter), the transaction facilitates the formal exit of incumbent investors Capza Transition and BNP Dev. The capital will be deployed through PAI Mid-Market Fund II (PAI MMF II), the sponsor's dedicated vehicle targeting mid-market opportunities. The transaction is expected to officially close in early July 2026. The strategic partnership is explicitly designed to accelerate the company's international expansion trajectory, with a targeted emphasis on capturing market share in the United States. Leveraging its proven expertise in business services, PAI intends to actively support management in scaling the omnichannel platform, deepening relationships with existing luxury partners, and successfully onboarding new brands across diverse categories and geographies. Furthermore, the sponsor will underwrite continued corporate investments in technological infrastructure, customer engagement, and operational capabilities. The overarching investment thesis capitalizes on a highly resilient market dynamic, driven by the structural nature of luxury legacy stock and a pronounced industry shift toward outsourcing inventory clearance to highly trusted, brand-safe specialist platforms.
It is worth noting that the fund Capza took control of Arlettie through an LBO in 2023.
ARLETTIE, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Retail & Consumer sector (10.6x).
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Target
Arlettie is a B2B inventory management platform specialised in stock clearance solutions for luxury and premium brands. Founded in France, the company organises exclusive private sales, employee sales and inventory liquidation events, enabling brands to monetise excess inventory while preserving brand equity, distribution discipline and commercial confidentiality. The group operates an omnichannel model combining permanent showrooms in Paris, London, Milan and New York with a global online platform. This infrastructure allows Arlettie to manage the entire inventory monetisation process, from product selection and event organisation to customer activation and sales execution. Positioned at the intersection of luxury, retail and outsourced business services, the company maintains long-standing relationships with more than 220 luxury and contemporary brand partners and leverages a proprietary database of over 120,000 active consumers (2026). Its consignment-based, asset-light business model minimises inventory exposure while supporting recurring transaction volumes and operational scalability.
Ent. Value
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Historical Financials (EUR)
Other operations with ARLETTIE
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2023 | CAPZA | ARLETTIE | FRANCE | Specialized Retail |
REFERENCES
Revenue range: 250M - 500M EUR
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Press release: view release
Target: arlettie
Acquirer: pai partners