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 10M - 30M EUR.

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://capitalfinance.lesechos.fr/deals/lbo/quilvest-succede-a-mbo-co-au-capital-de-solem-1331532

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

07/2021

PRIMAL GROUP (FORMERLY SOLEM) acquired by QUILVEST CAPITAL PARTNERS

FRANCE Hardware & Electronics / IT Equipment / IoT & Connected Objects REV 10M - 30M EUR

Context

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).

PRIMAL GROUP (FORMERLY SOLEM), which reported an EBITDA margin of in 2020, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (15.3x).

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

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, Sub-sector)
Date	Acquirer	Target	Country	Sector
02/2026	MANAGEMENT & PRIVATE INVESTORS	PRIMAL GROUP (FORMERLY SOLEM)	FRANCE	IoT & Connected Objects

REFERENCES

Revenue range: 10M - 30M 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 QUILVEST 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.

Acquirer: quilvest capital partners