mynth
10/2020

SANTIANE acquired by LATOUR CAPITAL

FRANCE Brokerage EV €100–350M

Context

Latour Capital has successfully finalized the acquisition of a majority stake in the share capital of the target from its previous institutional sponsor, following a highly competitive auction process. This strategic transaction represents a significant milestone in the broker's evolution, marking its transition into a new phase of institutional scaling. The strategic rationale for the move centers on the acquirer’s objective to leverage the target’s unique digital-native distribution model, which demonstrated exceptional resilience and performance during period of global market volatility. By incorporating new institutional backing, the organization reinforces its ability to accelerate its organic growth and explore potential buy-and-build opportunities in the fragmented insurance brokerage landscape. The partnership is designed to maintain the leadership of the existing management team while providing the financial depth required to enhance technical operational depth in digital customer acquisition. This integration facilitates the further professionalization of the firm’s wholesale division, providing the strategic resources required to navigate the evolving regulatory environment for individual health insurance in France. The move solidifies the group’s standing as a primary enabler of digital transformation in the insurance services sector.

SANTIANE, which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a premium to the average currently observed in the Financial Services sector (12.3x).

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Target

Santiane is a specialized financial organization operating as a leading digital-native insurance broker focused on individual health and protection (prévoyance). The entity’s business model is centered on a dual-track distribution framework, combining a direct-to-consumer (B2C) online platform with a wholesale (B2B) network for independent brokers. Its value proposition is anchored in a highly optimized customer acquisition engine and technical operational depth in data-driven lead conversion. Strategically, the firm focuses on the digital transformation of traditional insurance distribution, utilizing proprietary software to simplify complex policy comparison and subscription workflows. By maintaining a scalable "Insurtech" infrastructure, the organization ensures a mission-critical role in the French individual insurance market. The entity prioritizes industrialized agility and multi-carrier integration to facilitate personalized coverage solutions in a structurally growing healthcare landscape.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2019
€50–100M
€5–25M
[members only]
2018
€50–100M
€5–25M
[members only]

Other operations with SANTIANE

Other operations with SANTIANE

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
05/2026KEREISSANTIANEFRANCEBrokerage
07/2023SANTIANEAPPLI-KEYFRANCEFinancial Services / Banking
07/2023SANTIANEJULIA ASSURANCEFRANCEInsurance
07/2023SANTIANEUGIP ASSURANCESFRANCEBrokerage

REFERENCES

Valuation range: EV €100–350M

Revenue range: €50–100M

EBITDA range: €5–25M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

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

Press release: view release

Target: santiane

Acquirer: latour capital