Case study

Sell-Side Advisory for an IT Services Company in France

Company

French ESN

Industry

IT Services

Challenge

Strong business, but unclear succession and scalability.

Impact

Competitive process secured strategic buyer at premium.

A French IT services provider specializing in managed infrastructures and cloud operations had built a solid business over more than a decade. With €3.8M in annual revenue, €600K EBITDA, and exceptionally high customer retention, the company had become a key regional partner for SMBs and mid-market clients seeking reliable, outsourced IT operations. However, despite strong fundamentals, growth had plateaued and the founding team lacked a clear long-term succession plan.

Although the business was structurally healthy, the absence of a defined transition strategy made it difficult to attract premium buyers or initiate discussions with credible acquirers. The founders turned to B&C to objectively assess the company, prepare investor-grade materials, and run a competitive and discreet sell-side process targeting strategic acquirers and private investors across the French market.

The challenge

What was holding them back

The company delivered high-quality managed IT services, but its positioning lacked clarity for potential buyers. While operational excellence was strong, the business narrative did not clearly separate recurring contracts, project-based activity, and long-term renewal patterns, making it difficult for investors to assess predictable cash flow and scalability.

Behind the scenes, limited documentation and outdated financial visibility created uncertainty in early conversations. Historical reports didn’t fully reflect the strength of retention, upsell potential, or the durability of infrastructure service contracts. Although the business was performing well, the absence of structured investor materials risked undervaluing the company.

Additionally, without a proactive outreach strategy, the founders were dependent on inbound interest from local buyers, which dramatically limited competitive tension. Without structured buyer engagement, they lacked leverage to negotiate valuation or deal terms in their favor.

The solution

The transformation playbook

B&C began by conducting a comprehensive financial and strategic assessment, rebuilding the valuation model, and clarifying the company’s recurring revenue base. By segmenting contract types, measuring retention cohorts, and analyzing gross margin profiles, we reframed the business as a stable, cash-generating infrastructure operator, not just a general IT services provider.

Next, we developed a full suite of investor-grade documentation, including a 45+ page Information Memorandum, a KPI deck, and a detailed succession positioning analysis. This work allowed buyers to clearly understand the company’s technology stack, managed infrastructure processes, and long-term contract visibility, significantly improving perceived value.

Finally, we executed a targeted outreach strategy focusing on French strategic buyers, regional IT groups, and select private investors. By managing conversations, coordinating NDAs, and structuring negotiations, B&C created genuine competition among acquirers. This dynamic ultimately led to an attractive offer from a French strategic buyer seeking to expand its regional footprint.

Results

“B&C transformed what felt like a complex, uncertain transition into a structured and strategic process. They clarified our strengths, positioned us perfectly with buyers, and handled every negotiation detail. We reached an outcome we could never have achieved alone.”

Sarah Martinez

Chief Strategy Officer

€4.5M
Premium valuation
3
Multiple competing offers
100%
Clean exit with smooth transition plan

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