mynth
01/2016

SOGETREL acquired by QUILVEST CAPITAL PARTNERS & BPIFRANCE

FRANCE Telecom / Infrastructures EV €50–150M

Context

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.

SOGETREL, which reported an EBITDA margin of [members only] in 2015, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, a level significantly lower than 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

€50–150M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

5x–12x

EV / EBIT

5x–12x

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2015
€250–500M
€5–25M
€5–25M
2014
€250–500M
€5–25M
€5–25M

Other operations with SOGETREL

Other operations with SOGETREL

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
02/2021ANDERA PARTNERSSOGETRELFRANCEInfrastructures
09/2018LATOUR CAPITAL / BPIFRANCE / BNP PARIBAS DEVELOPPEMENTSOGETRELFRANCEInfrastructures

REFERENCES

Valuation range: EV €50–150M

Revenue range: €250–500M

EBITDA range: €5–25M

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 QUILVEST CAPITAL PARTNERS / BPIFRANCE 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: quilvest capital partners / bpifrance