PSG Equity takes majority stake in Be-Cloud

PSG Equity acquired a majority stake in Be-Cloud on 26 August 2026 from B&Capital and the founding Vercruysse brothers. B&Capital exited in full through its RB Capital France 1 fund, five years after entering as a minority shareholder in an owner buy-out at the end of 2021, while Lenny and Sébastien Vercruysse sold part of their holdings and retained a position alongside the new controlling shareholder. H.I.G. Capital provided a unitranche facility. As part of this transaction, the company merged with QualityHosting, a German managed service provider PSG Equity had held since 2025, whose founders Christian Heit and Markus Oestreicher contributed their shares to the combined entity. Founded in Paris in 2012, Be-Cloud resells Microsoft licences as a Cloud Solution Provider and deploys, administers and supports the environments built on them. Its customers are small and medium-sized enterprises and the IT resellers serving them, in France, Benelux and Switzerland. It employed 87 people and expected revenue of €100m in 2026, against 10 million euros at the end of 2021, with an EBITDA margin above 10%. That trajectory rested on both organic growth and two self-funded acquisitions, the Swiss IT services firm 3T and the Flemish D&D Computers in autumn 2025. The combined group serves approximately 50,000 SME clients and more than 2,000 resellers across France, the German-speaking countries and Benelux. Founded in Germany in 1998, QualityHosting was the country’s first Microsoft CSP and operates a highly automated proprietary platform, with close to 50 million euros of revenue and 35 employees. Each business retains its domestic management, and the group intends to widen its offering in cloud, cybersecurity and artificial intelligence through organic growth and further acquisitions, with transactions under way in Hungary, Romania and Portugal and additional targets identified in Germany and the Nordic countries. Oaklins advised the sellers on the M&A, with Winston Taylor as legal counsel, Eight Advisory on financial vendor due diligence and Cabinet Bouchara on intellectual property. Clipperton and Natixis Partners advised PSG Equity, with Weil, Gotshal & Manges as legal counsel, EY Société d’Avocats on legal and tax due diligence, Interpath Advisory on financial and EY-Parthenon on strategic due diligence.

In the past, Be-Cloud was acquired by B & Capital in 2021 as part of its expansion strategy.