QUESTEL GROUP acquired by EURAZEO, IK PARTNERS & RAISE
Context
Eurazeo Capital and IK Partners have acquired a majority stake in Questel, alongside Raise Investissement and the management team. The strategic rationale for the deal is to finance and accelerate Questel’s ambitious external growth strategy, particularly in Europe, the US, and Japan. The transaction is supported by a €555 million ESG unitranche debt facility co-arranged by CAPZA, which includes an innovative margin adjustment mechanism based on the achievement of specific environmental, social, and governance criteria. This partnership aims to consolidate Questel’s leadership in the fragmented IP solutions market, leveraging the combined expertise of its new majority shareholders to continue its rapid scaling. For CAPZA, this marks a renewal of a long-term relationship with the group, transitioning from a previous shareholder role to a key debt provider.
Questel Group had already undergone several LBOs in the past, notably in 2015 with Raise and in 2018 with Ik Partners. These multiple LBO cycles illustrate the strong appeal for this type of asset.
QUESTEL GROUP, which reported an EBITDA margin of in 2020, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).
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Target
Founded in 1978, Questel is a leading global provider of intellectual property (IP) and innovation management solutions. The company’s business model is built on an integrated platform that combines sophisticated software with professional services to manage the entire IP life cycle—from the initial invention and filing to renewals and brand protection. Its value proposition centers on offering a collaborative ecosystem for large multinationals and research organizations, helping them streamline patent and brand management across 30 countries. Strategically, the firm focuses on aggressive international growth and technological integration, having significantly increased its operational scale through a concentrated buy-and-build strategy. With a workforce of 900 people and a client base of nearly 6,000, the organization acts as a critical infrastructure provider for global innovation and corporate legal departments.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with QUESTEL GROUP
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 02/2018 | IK PARTNERS | QUESTEL GROUP | FRANCE | Industry-Specific Software |
| 06/2015 | RAISE | QUESTEL GROUP | FRANCE | Industry-Specific Software |
REFERENCES
Valuation range: EV 500M - 1.5b EUR
EBITDA range: 25M - 50M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: questel group
Acquirer: ik partners / eurazeo / raise