SPHEREA acquired by OMNES CAPITAL & ANDERA PARTNERS
Context
Omnes Capital and Andera Partners entered into exclusive negotiations to acquire a majority stake in Spherea, outbidding Argos Wityu and Sagard. The transaction allows historical investors ACE Management (now Tikehau Ace) and IRDI to exit partially. A senior debt of over EUR40M, provided by LCL and HSBC, supports the deal. The strategic goal is to accelerate Spherea's diversification into railway and energy sectors and pursue larger-scale build-up operations.
SPHEREA, which reported an EBITDA margin of [members only] in 2018, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average currently observed in the Industry & Manufacturing sector (11.7x).
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Target
A former division of Airbus (spun off in 2014), Spherea is a world leader in test solutions for critical electronic systems. The company designs and manufactures test benches used to check the reliability of aircraft, helicopters, and military equipment. It employs over 600 people and has a strong international presence (Germany, UK, USA).
Ent. Value
€50–150M
Equity Value
[members only]
Multiples
EV / Revenue
below 1.5x
EV / EBITDA
5x–12x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with SPHEREA
Other operations with SPHEREA
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 12/2025 | ANDERA PARTNERS | SPHEREA | FRANCE | Engines & Systems |
Similar deals in Aerospace, Naval & Defense
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 05/2019 | AEA INVESTORS | SPECTRUM CONTROL | UNITED STATES | Electronics |
| 05/2019 | THE CARLYLE GROUP | FORGITAL GROUP | ITALY | Aerostructures |
| 01/2019 | ARDIAN | REVIMA GROUP | FRANCE | MRO (Maintenance, Repair & Overhaul) |
| 11/2018 | SAGARD / BPIFRANCE | SABENA TECHNICS | FRANCE | MRO (Maintenance, Repair & Overhaul) |
| 05/2018 | TIKEHAU CAPITAL | NEXTEAM | FRANCE | Aerostructures |
| 07/2017 | THE CARLYLE GROUP | ADB SAFEGATE | BELGIUM | Aerospace, Naval & Defense |
| 07/2017 | ARGOS WITYU | REVIMA GROUP | FRANCE | MRO (Maintenance, Repair & Overhaul) |
| 06/2017 | TOWERBROOK / TORREAL / PENINSULA CAPITAL | AERNNOVA | SPAIN | Aerostructures |
| 02/2016 | J F LEHMAN | SPECTRUM CONTROL | UNITED STATES | Electronics |
| 02/2016 | ADB SAFEGATE / PAI PARTNERS | SAFEGATE INTERNATIONAL | SWEDEN | Aerospace, Naval & Defense |
Other operations with OMNES CAPITAL / ANDERA PARTNERS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 01/2020 | OMNES CAPITAL / MACSF | OPPORTUNITY | FRANCE | MarTech |
REFERENCES
Valuation range: EV €50–150M
Revenue range: €100–200M
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 SPHEREA by OMNES CAPITAL / ANDERA PARTNERS 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.
Target: spherea
Acquirer: andera partners / omnes capital