Montefiore prepares sale of European Digital Group via Lazard

Arezki Yaiche , Gustav Hoejmark-Jensen , Min Ho and Charlie Taylor-Kroll
10 March 2023

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Montefiore Investments is preparing the sale of French B2B digital services platform European Digital Group (EDG) for later this year, four sources familiar with the matter said.

The French sponsor has appointed Lazard to oversee an auction geared mostly towards private equity firms, three of the sources said.

The sale process is expected to formally kick off by the end of this month or early April and could conclude before the summer, one of the sources said.

EDG, which generates a turnover of around EUR 200m according to recent French press reports, is being marketed off FY23 EBITDA of around EUR 50m, two of the sources said.

Founded in 2019 by CEO Vincent Klingbeil and sponsor Montefiore, the company has embarked on an "ambitious" M&A strategy to create a global B2B platform for digital marketing, digital communication, data management and IT services (consulting, cyber security, ESM), as previously reported.

EDG's CEO told Mergermarket last year that it planned to complete up to eight acquisitions in 2023.

Last January, EDG acquired French social media intelligence agency Semantiweb from Webedia for an undisclosed sum. Last year, it acquired Adventure Conseil, a French digital acquisition agency specialised in emailing and text messaging and French digital HR firm Avizio.

Earlier this month, EDG's CEO told a French media industry publication that the company will unveil seven new acquisitions in the coming months, and that it targets "at least" a 30% organic growth on average each year.

Montefiore and Lazard declined to comment. European Digital Group did not reply to requests for comment.