TOPSOLID acquired by CREDIT MUTUEL EQUITY
Context
TopSolid completed its fifth LBO since 2005, welcoming Credit Mutuel Equity as a new minority reference shareholder. Historical partners Bpifrance and IRDI chose to reinvest, while Siparex (shareholder since 2018) exited. The transaction allows the management team—comprising two generations of executives—to retain majority control (>60%), with the younger generation significantly strengthening their equity position. The deal is supported by senior debt with a leverage ratio below 3.0x EBITDA. The strategic goal is to reach EUR100M in revenue by 2029 while remaining an independent French player.
TOPSOLID, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).
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Target
TopSolid is a leading French publisher of CAD/CAM (Computer-Aided Design and Manufacturing) and ERP software tailored for the mechanical engineering, wood, and sheet metal industries. The company has successfully expanded internationally, now generating 50% of its revenue outside France.
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Historical Financials (EUR)
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REFERENCES
Revenue range: 50M - 100M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: credit mutuel equity