Montefiore Investment has exited its majority stake in Xelians (slightly over 50%) following a seven-year holding period. The operation allows the current Chairman, Jacques Thibon, to increase his stake to over 80%, up from 45% previously. The management team, led by CEO Jérôme Pariscoat and CFO Thomas Perche, now holds nearly 10% of the equity. Andera Acto completed the transaction with a €34 million investment, structured as over 90% in bonds. The financing package also included a €10 million private debt facility provided by CIC Private Debt. The total transaction was completed at a leverage ratio of less than 4.5x EBITDA. The strategic rationale marks the completion of the industrial integration phase and a successful digital shift. Under this new majority-management ownership, Xelians aims to reach €100 million in revenue within five years, with digital services expected to grow to 40% of the overall activity. This MBO secures the long-term independence of the group while providing a stable financial platform for its next growth cycle.

The transaction values XELIANS at an EV/Revenue multiple of LOGIN.

This transaction is part of the Business Services industry, which currently tracks an average EBITDA multiple of 11.1x since the beginning of 2026, 0.8% increase compared to 2025. 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.