RGI GROUP acquired by CORSAIR CAPITAL
Context
Corsair Capital has agreed to acquire RGI Group from Ardian Expansion, the company founder and the management team. Under Ardian's ownership (2014-2018), RGI transformed from a domestic Italian player into a European leader through the strategic acquisition of Kapia Solutions in France and organic growth. Corsair Capital intends to leverage its deep network in the global financial services industry to further accelerate RGI's international expansion and product development.
RGI GROUP, which reported an EBITDA margin of [members only] in 2017, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a discount to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x).
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Target
Headquartered in Italy, RGI is a leading provider of core software systems and digital services for the insurance industry in the EMEA region. Its PASS_Insurance suite covers the entire insurance value chain (policy administration, claims, sales, distribution). At the time of the deal, RGI served over 100 insurance companies and brokers across Italy, France, DACH, and Benelux. The company had successfully integrated Kapia Solutions (France) in 2016.
Ent. Value
€100–350M
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with RGI GROUP
Other operations with RGI GROUP
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REFERENCES
Valuation range: EV €100–350M
Revenue range: €50–100M
EBITDA range: €5–25M
EV/Revenue range: 1x - 3x
EV/EBITDA range: 10x - 18x
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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: rgi group
Acquirer: corsair capital