TUNEIN acquired by STINGRAY GROUP

Sparring Capital acquired a majority stake in Elec 44 to facilitate a management transition as the founders sought to step back from operations. The transaction involves the recruitment of a new CEO to lead the next growth phase. Sparring invested a ticket between €10 million and €15 million (mix of equity and bonds). The founders reinvested alongside the fund. A senior debt package completes the financing with a leverage of approximately 3x EBITDA.

Bending Spoons has entered into a definitive agreement to acquire all outstanding shares of the target organization, a move that will transition the entity from a public corporation listed on the NYSE to a private subsidiary. The strategic rationale for the transaction is rooted in the acquirer’s objective to accelerate innovation within the experience economy by applying its advanced engineering resources and AI expertise to the target’s established ticketing platform. Planned initiatives include the introduction of dedicated messaging functionality to enhance community interaction, the implementation of AI-driven tools to simplify event creation for organizers, and the improvement of platform searchability for attendees. Additionally, the acquirer intends to explore the development of a secure system for the secondary ticket market to address existing industry friction. This acquisition represents a significant expansion of the acquirer's portfolio into the live experience sector, leveraging its robust financing capabilities and a proven record of revitalizing iconic digital brands. The partnership aims to solidify the platform's role as a global leader for live social connections for the foreseeable future.

OLX Group, a subsidiary of the Dutch investment group Prosus, has finalized the acquisition of the automotive classifieds platform La Centrale. Closed on November 17, 2025, the transaction facilitates the full exit of US private equity firm Providence Equity Partners, which had held a controlling stake since 2020, alongside the divestment of minority shares held by Axel Springer. For OLX Group, led by CEO Christian Gisy, the buyout represents a highly strategic move to penetrate the French used-car market and significantly expand its operational footprint across Western Europe. For La Centrale and its CEO Philippe Chainieux, joining the OLX portfolio provides the robust technological resources required to accelerate its digital roadmap, with no immediate buy-and-build M&A strategy planned. The joint commercial focus centers entirely on technological synergies, specifically leveraging proprietary artificial intelligence to enhance the consumer-facing marketplace and upgrade the company's SaaS solutions. This AI integration will optimize critical dealer tools—such as pricing analysis, inventory management, and vehicle sourcing—while supporting the continued rollout of La Centrale's newly launched used-car leasing (LOA) products. The buyer consortium was advised by BofA Securities and A&O Shearman, while Goldman Sachs and Kirkland & Ellis acted as counsel for Providence.

Claranova completed the sale of its personalized photo division, PlanetArt, to a consortium led by General Atlantic Credit and the division's management team. The deal is a strategic imperative for Claranova to deleverage its balance sheet and pivot to a "pure-player" software model. The proceeds allow Claranova to refinance its remaining debt and focus on its high-margin segments: PDF (SodaPDF), Utilities (Adaware), and Photo Software (inPixio).

Andera Partners acquires a majority stake in CDS Groupe, the French champion of business hotel booking solutions. This secondary LBO marks the exit of historical investors Siparex and Bpifrance. Ziad Minkara, the CEO, remains at the helm. With Andera's backing, CDS aims to accelerate its international expansion (particularly in Europe, targeting Italy and Germany) and potentially pursue new acquisitions to consolidate the fragmented business travel market.

Inflexion has agreed to acquire a majority stake in Finanzen.net Group from the media conglomerate Axel Springer. The transaction is structured as a carve-out, separating the financial portal and brokerage business from the parent company to operate as a standalone platform. The founders will retain a significant stake and continue to lead the business. Strategically, Inflexion aims to accelerate the growth of the "Zero" neobroker division by cross-selling to the portal's massive audience, effectively converting media traffic into trading customers. The plan also includes launching new savings and investment products to rival competitors like Trade Republic.

LVMH Moët Hennessy Louis Vuitton has completed the acquisition of the iconic weekly magazine Paris Match from the Lagardère group. This transaction represents the culmination of a long-held ambition for LVMH's Chairman and CEO, Bernard Arnault, who has publicly expressed his deep admiration for the magazine, viewing it as a significant piece of French cultural heritage and a premium brand. The deal followed high-level, discrete negotiations between the Arnault family and the Bolloré family, who are the controlling shareholders of Vivendi, Lagardère's parent company. For LVMH, the acquisition is a strategic move to add a prestigious media asset to its portfolio of luxury houses. The group plans to leverage its global expertise and resources to foster Paris Match's growth, particularly in accelerating its digital transformation and international development. For the seller, Lagardère, the divestiture is part of a strategic realignment following its integration into Vivendi, allowing the company to focus on other media properties within its portfolio. The transaction provides Paris Match with a new, well-capitalized owner committed to preserving its journalistic legacy while steering it toward future innovation and expansion in the evolving media landscape. The magazine is set to operate as a distinct 'Maison' within the LVMH group.

This transaction involves a significant restructuring of the target’s capital, resulting in a newly introduced family office acquiring a controlling majority stake. The operation successfully materializes merely a few years after a previous take-private leveraged buyout. Demonstrating strong ongoing confidence, the former private equity majority owner significantly reinvests to maintain a minority position, alongside another historical institutional shareholder and the executive management team. The acquisition is robustly supported by a comprehensive senior debt package syndicated by a consortium of major banking institutions. The primary strategic rationale is to seize an opportunistic moment to aggressively accelerate the company's development timeline.

Sagard has emerged as the winner of a competitive auction process managed by Amala Partners and eCap Partner, acquiring a majority stake in Primelis. The transaction values the company with a premium valuation underpinned by a 40% average annual growth rate over the last five years. The financing package includes a unitranche debt provided by Eurazeo Private Debt, which is structured to potentially evolve into a senior debt with PIK (Payment-in-Kind) interest to maximize reinvestment into growth. The deal also includes a dedicated CAPEX line strictly engineered to fund an upcoming build-up strategy. Following the successful "cracking" of the US market, this new partnership is designed to transform Primelis into a global MarTech leader with imminent launches planned for Canada, Mexico, and the United Kingdom.

Latour Capital has successfully completed the capital reorganization of European Digital Group, acquiring a 30% stake alongside historical partner Montefiore Investment. This "LBO Bis" transaction, orchestrated by Lazard, was highly competitive, attracting interest from major funds such as Towerbrook and Marlin Equity Partners. The deal is strictly engineered to fuel a massive scale-up phase, aiming to quadruple the group’s revenue from €250M to €1Bn by 2028. To adequately capitalize this ambition, a senior debt package was arranged by a syndicate including CACIB, La Banque Postale, BNP Paribas, and Allianz, representing a leverage of approximately 4x EBITDA. This new funding cycle focuses on aggressive internationalization—targeting 35% of revenue from abroad by 2028—and the continued acquisition of specialists, particularly Salesforce and ServiceNow integrators.