At what enterprise value was PRIMAL GROUP (FORMERLY SOLEM) acquired in 2026?

During the acquisition of PRIMAL GROUP (FORMERLY SOLEM) by MANAGEMENT & PRIVATE INVESTORS in 2026, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 50M - 150M EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 14.3x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of PRIMAL GROUP (FORMERLY SOLEM) when it was acquired by MANAGEMENT & PRIVATE INVESTORS?

The estimated EV/EBITDA multiple for PRIMAL GROUP (FORMERLY SOLEM) is in the range of 10x - 18x. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.3x. Join our community for free to access full valuation data and industry trends.

What was the revenue of PRIMAL GROUP (FORMERLY SOLEM) at the time of the deal?

The revenue of PRIMAL GROUP (FORMERLY SOLEM) at the time of the deal is estimated to be in the range of 25M - 50M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of PRIMAL GROUP (FORMERLY SOLEM) during the acquisition?

PRIMAL GROUP (FORMERLY SOLEM)'s EBITDA is estimated to be in the range of 5M - 25M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the PRIMAL GROUP (FORMERLY SOLEM) acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the PRIMAL GROUP (FORMERLY SOLEM) deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.lejournaldesentreprises.com/breve/le-fabricant-de-solutions-connectees-primal-est-repris-par-son-equipe-dirigeante-2137287#:~:text=Bas%C3%A9e%20%C3%A0%20Clapiers%20(H%C3%A9rault)%20pr%C3%A8s,montpelli%C3%A9rain%20Sofilaro%2C%20ainsi%20que%20Bpifrance.

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Home Database TMT (Tech, Media, Telecom)PRIMAL GROUP (FORMERLY SOLEM)

02/2026

PRIMAL GROUP (FORMERLY SOLEM) acquired by MANAGEMENT & PRIVATE INVESTORS

FRANCE Hardware & Electronics / IT Equipment / IoT & Connected Objects EV 50M - 150M EUR

Context

After five years under Quilvest's control, the management of Primal Group regained majority ownership in a transaction that marks a major turning point for the company. This milestone allows the leadership team to become the controlling shareholders, effectively "connecting" the company's future to its management's vision. Supported by EMZ Partners and Bpifrance, the group is now positioned to leverage its three core brands—Attentive, Solem, and Indygo—to pursue an ambitious next phase of European and international growth. The transaction highlights the success of Primal's transition from a hardware manufacturer to a high-value tech provider with strong social and environmental impact.

Quilvest Capital Partners had previously taken control of the company through an LBO in 2021.

PRIMAL GROUP (FORMERLY SOLEM), which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.3x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Primal is the French leader in professional IoT (Internet of Things) solutions. It operates through three flagship brands: Attentive (France's #1 provider of smart home telecare for seniors), Solem (specialist in connected smart irrigation), and Indygo (connected pool management). The company employs approximately 180 people and controls the entire Corporate chain, from hardware and software design to manufacturing. Under the leadership of President Frederic Comte, it transformed from a traditional contract manufacturer into a B2B solutions provider built on a unified software platform.

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Other operations with PRIMAL GROUP (FORMERLY SOLEM)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
07/2021	QUILVEST CAPITAL PARTNERS	PRIMAL GROUP (FORMERLY SOLEM)	FRANCE	Hardware & Electronics	Quilvest Capital Partners acquired a majority stake in Solem from MBO & Co and Altur Investissement. This "LBO ter" allowed the CEO to increase his stake in the company and secure a long-term partner for the next growth phase. The strategic rationale focuses on expanding the product lines across the three core verticals and increasing recurring service revenue through software integration. The transaction was supported by a bank leverage of less than 4x EBITDA, providing the group with significant "dry powder" for targeted external growth (M&A).

REFERENCES

Valuation range: EV 50M - 150M EUR

Revenue range: 25M - 50M EUR

EBITDA range: 5M - 25M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PRIMAL GROUP (FORMERLY SOLEM) by MANAGEMENT & PRIVATE INVESTORS are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).