SOGETREL
Acquired by
LATOUR CAPITAL / BPIFRANCE / BNP PARIBAS DEVELOPPEMENT
SOGETREL acquired by LATOUR CAPITAL / BPIFRANCE / BNP PARIBAS DEVELOPPEMENT
Target
SOGETREL
Acquirer
LATOUR CAPITAL / BPIFRANCE / BNP PARIBAS DEVELOPPEMENT
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.
SOGETREL, which reported an EBITDA margin of LOGIN in 2017, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 13.6x average currently observed in the TMT (Tech, Media, Telecom) sector.
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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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
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with SOGETREL
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 02/2021 | ANDERA PARTNERS | SOGETREL | FRANCE | Infrastructures | Sogetrel's management regained majority control of the group by buying out Latour Capital and its partners. The transaction was structured as a sponsorless MBO, backed by mezzanine financing from ActoMezz. The valuation increase since since its last valuation from 2018 reflects the group's explosive growth in the fiber optic market. This structure allows management to execute a long-term diversification strategy into Smart Cities and 5G infrastructure without the constraints of a traditional majority private equity fund. |
| 01/2016 | QUILVEST CAPITAL PARTNERS / BPIFRANCE | SOGETREL | FRANCE | Infrastructures | Quilvest Private Equity took a majority stake in Sogetrel, facilitating the exit of a large pool of historical financial investors (Equistone, Capzanine, ICG, Ardian, and Idinvest). Bpifrance joined as a minority partner. This new capital structure was designed to support the group's transition into the "Very High Speed" (THD) era and accelerate international growth, following initial forays into Switzerland and Belgium. |
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