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09/2018

SOGETREL acquired by LATOUR CAPITAL, BPIFRANCE & BNP PARIBAS DEVELOPPEMENT

FRANCE Telecom / Infrastructures EV €100–350M

Context

Latour Capital led the acquisition of Sogetrel from Quilvest Private Equity for an estimated valuation. This follows a period of hyper-growth where the group exceeded its 5-year business plan in just 24 months. The transaction included a significant reinvestment from the management team, led by Xavier Vignon, who retained 30% of the equity. The strategy for this new cycle focuses on continued organic growth and strategic acquisitions to diversify service offerings.

In the past, the company had already been the subject of several LBOs, notably led by Quilvest Capital Partners / Bpifrance in 2016 and Andera Partners in 2021. These multiple LBO cycles illustrate the strong appeal for this type of asset.

SOGETREL, which reported an EBITDA margin of [members only] in 2017, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, a level twice as low as the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x).

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

Target

Sogetrel is a leading French specialist in the integration and maintenance of telecom networks and digital solutions. The group is a major player in the "France Très Haut Debit" plan (high-speed broadband). It has diversified into "Smart Cities" (video protection, IoT) and IP Security (access control, alarms) to prepare for the post-fiber era. At the time of the deal, it employed over 5,000 people.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2017
€250–500M
€10–30M
[members only]
2016
€250–500M
€10–30M
[members only]

Other operations with SOGETREL

Other operations with SOGETREL

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
02/2021ANDERA PARTNERSSOGETRELFRANCEInfrastructures
01/2016QUILVEST CAPITAL PARTNERS / BPIFRANCESOGETRELFRANCEInfrastructures

REFERENCES

Valuation range: EV €100–350M

Revenue range: €250–500M

EBITDA range: €10–30M

EV/Revenue range: below 1.5x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SOGETREL by LATOUR CAPITAL / BPIFRANCE / BNP PARIBAS DEVELOPPEMENT 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.

Acquirer: bnp paribas developpement / bpifrance / latour capital