Charterhouse buys Labelium from Qualium

The deal is expected to complete in Q3 2021.

Co-investors Cathay, MACSF and Swen Capital Partners are also selling their stakes in the business, according to a statement.

Charterhouse is investing in Qualium via its 10th fund, which held a final close in November 2016 on €2.3bn. The GP generally invests in mid-market companies with an enterprise value of €200m-1.5bn, targeting the services, healthcare, specialised industrials and consumer sectors. The GP focuses on the UK and France, although the firm can make investments in neighbouring European countries.

The GP registered its next fund with a target of €2.5bn in May 2020, according to Unquote Data.

Charterhouse intends to support the company's growth, including via targeted M&A to expand the company's services and geographical presence, the GP said in a statement.

Qualium acquired a majority stake in Labelium from Keensight Capital and Isai in January 2018. The company posted EBITDA of around €11m at the time, according to Unquote Data. At the time, Capital Finance reported that the company was valued al €145m.

Qualium invested in Labelium via Qualium II, which held a final close in December 2017 on €370m. The fund invests in European SMEs with enterprise values of €40-250m, deploying equity tickets of €20-75m.

During the investment period, the company made six add-ons, the most recent of which was the acquisition of French market peer Arcane in June 2021. Labelium also launched social media agency Tigrz.

Previous funding
Isai and Keensight Capital invested in Labelium in 2014, acquiring a minority stake in the business. Keensight invested via its 2014-vintage Keensight IV vehicle, while Isai invested via its Expansion Fund.

Company
Founded in 2001 and headquartered in Paris, Labelium is a B2B digital marketing consultancy. The firm assists companies with the implementation of digital marketing strategies, providing project and data management in the areas of media performance, retail performance, digital intelligence and strategy consulting. The company employs 500 people across 20 offices in 14 countries.

People
Charterhouse Capital Partners – Cédric Barthélemy (partner).
Qualium Investissement – Jean Eichenlaub (managing partner); Cyprien Choutet (partner).
Labelium – Stéphane Lévy (president); Sylvain Bonnevide (CEO).

Advisers
Equity – DC Advisory (M&A, debt advisory); Raphael Financial Advisory (M&A); Boston Consulting Group (commercial due diligence); 8 Advisory (financial due diligence); Freshfields Bruckhaus Deringer (legal); Mayer Brown (tax).
Vendor – Cambon Partners (M&A); Eleven (commercial due diligence); 8 Advisory (financial due diligence); Paul Hastings (legal); McDermott Will & Emery (legal).

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• Topics
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• Charterhouse Capital Partners
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