mynth
07/2023

SAGEMCOM acquired by CHARTERHOUSE

FRANCE Hardware & Electronics / IT Equipment / IoT & Connected Objects EV 1b - 4b EUR

Context

Charterhouse successfully structured a massive continuation vehicle to acquire absolute majority control of Sagemcom from its tenth flagship fund, marking one of the largest single-asset GP-led transactions in Europe for 2023. Following an intensive competitive price-discovery process managed by Lazard, Charterhouse secured exclusivity to lead this new cycle alongside a powerhouse syndicate led by AlpInvest. To adequately capitalize this new phase, the transaction incorporates a sophisticated €775M "corporate hybrid" debt package (refinanced in 2022) provided by a consortium of 16 banks. This strategic structure is engineered to provide Sagemcom with a dedicated €100M M&A envelope to accelerate internal innovation and execute targeted bolt-on acquisitions, such as the recent purchase of AI-specialist Odit-e.

It is worth noting that the fund Charterhouse took control of Sagemcom through an LBO in 2016.

SAGEMCOM, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , a level than the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Sagemcom is a global high-tech leader in communicating terminals with high added value. The group operates across three main markets: Broadband (gateways, routers, Wi-Fi 7), Audio & Video (STB, soundbars), and Energy & Telecom (smart meters for electricity, gas, and water). Under Charterhouse's ownership, the company has transformed into a global giant serving Tier-1 telecom operators and energy utilities worldwide.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2022
2021

Other operations with SAGEMCOM

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
10/2016CHARTERHOUSESAGEMCOMFRANCEIoT & Connected Objects

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 2.5b - 5b EUR

EBITDA range: 100M - 200M EUR

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

Press release: view release

Target: sagemcom

Acquirer: charterhouse