RHETORES acquired by IK PARTNERS
Context
The independent wealth management group Rhetores completes its first LBO (Primary LBO) with IK Partners. The transaction values the firm at a staggering EUR310 million, setting a new benchmark multiple in the sector. The founder, Stephane Rudzinski, opens his capital to a financial sponsor for the first time to accelerate growth. The objective is to double the assets under management (AUM) by pursuing an aggressive buy-and-build strategy in the highly fragmented French market, targeting other CGP firms.
It is worth noting that the fund Activa Capital took control of Rhetores through an LBO in 2022.
RHETORES, which reported an EBITDA margin of in 2024, 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
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with RHETORES
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 02/2022 | ACTIVA CAPITAL | RHETORES | FRANCE | Wealth & Asset Management |
REFERENCES
Valuation range: EV 300M - 700M EUR
EBITDA range: 5M - 25M 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: rhetores
Acquirer: ik partners