At what enterprise value was RHETORES acquired in 2022?

During the acquisition of RHETORES by ACTIVA CAPITAL in 2022, the transaction's Enterprise Value is estimated to be in the range of 20M - 50M EUR.

What was the EV/EBITDA of RHETORES when it was acquired by ACTIVA CAPITAL?

The estimated EV/EBITDA multiple for RHETORES is in the range of 15x - 25x.

When was RHETORES acquired by ACTIVA CAPITAL?

RHETORES was acquired by ACTIVA CAPITAL in 2022.

What was the revenue of RHETORES at the time of the deal?

The revenue of RHETORES at the time of the deal is estimated to be in the range of 5M - 25M EUR.

What was the EBITDA of RHETORES during the acquisition?

RHETORES's EBITDA is estimated to be in the range of 0M - 5M EUR.

How is the data for the RHETORES 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 RHETORES 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.newco-cf.com/wp-content/uploads/2022/02/Communique-de-presse-Activa-Rhetores-Cap-Fidelis.pdf

What is the average EV/EBITDA multiple for the Financial Services sector in 2026?

The average EV/EBITDA multiple for the Financial Services sector in 2026 is 12.4x.

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Home Database Financial ServicesRHETORES

02/2022

RHETORES acquired by ACTIVA CAPITAL

FRANCE Wealth & Asset Management EV 20M - 50M EUR

Context

The investment by Activa Capital in Rhétorès Finance, coupled with the simultaneous acquisition of Cap Fidélis, marks the launch of a new consolidation platform in the French wealth management (CGP) sector. Activa Capital invested approximately EUR 10M to take a minority stake in a primary LBO, supporting the founders who remain majority shareholders. The strategic rationale is to transform Rhétorès from a Parisian-centric firm into a national leader through a disciplined build-up strategy, aiming to increase assets under management (AuM) from 450 to over 2000. The acquisition of Cap Fidélis, a historical player in Lille with 180 in assets, provides an immediate geographic expansion into Northern France and adds a stable, family-led client base of business owners. This operation is financed via a unitranche debt provided by Apera Capital. The partnership aims to complete four to six additional acquisitions during the investment cycle while modernizing the group's digital infrastructure to optimize relations with partners such as banks and insurers.

RHETORES, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Financial Services sector (12.4x).

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Target

Rhétorès Finance is a high-growth wealth management consultancy based in Paris. The firm specializes in providing sophisticated asset engineering services, focusing on a diversified product offering that includes private equity, life insurance, and real estate investments. Its business model is centered on a structured regulatory framework and continuous investment in technological platforms to enhance client service and operational efficiency. By targeting entrepreneurs and high-net-worth families, the firm delivers tailored financial advice, brokerage services for loans, and insurance mediation. The company acts as a strategic intermediary between private investors and major financial institutions, developers, or insurers. Under its current growth trajectory, the entity serves as a consolidation platform in the fragmented French wealth management market, leveraging its technical expertise in asset structuring to integrate smaller regional practices while maintaining a high level of service and compliance standards.

Ent. Value

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2021

Other operations with RHETORES

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
12/2025	IK PARTNERS	RHETORES	FRANCE	Wealth & Asset Management

REFERENCES

Valuation range: EV 20M - 50M EUR

Revenue range: 5M - 25M EUR

EBITDA range: 0M - 5M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of RHETORES by ACTIVA CAPITAL 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.

Target: rhetores

Acquirer: activa capital