Paris, June 30, 2025 – LBO France, a multi-specialist investment platform and pioneer in private equity, announces the sale of its majority stake in Prenax Group, a major player in outsourced subscription management services, to Triton, a leading Nordic investor. This transaction is subject to approval by the relevant antitrust authorities.
LBO France acquired a majority stake in Prenax in October 2020 alongside Andera Acto (Andera Partners’ sponsorless strategy), a minority shareholder, and the group’s management, in order to finance the acquisition of LM Information, its main European competitor based in Finland. This transaction enabled Prenax to become the independent European leader in the sector, with consolidated revenue of nearly €250 million, compared to €140 million prior to the acquisition.
A successful transformation driven by LBO France
LBO France’s investment and operational teams supported Prenax’s management in implementing a transformative, international acquisition strategy.
Prenax scaled up its operations with the acquisition of LM Information, a major player in the sector with strong geographical and customer complementarity. Working alongside LBO France, the company carried out an integration process to form a leading European player in the subscription management services segment. Two further acquisitions then consolidated this positioning:
- Paid, a UK-based technology company, enabling the diversification of its service offering through the launch of PxFlow at the end of 2024.
- Couranto, enabling the strengthening of its market position in the United States in May 2025.
Finally, LBO France also facilitated the transition between Jerome Conquet, CEO of Prenax since 2010, and Fredrik Peterson, former CEO of Sweden, who now holds the position of Group CEO.
A transaction that illustrates LBO France’s small-cap strategy
This sale confirms the relevance of LBO France’s investment strategy in companies with strong growth potential in the small cap segment. It also illustrates LBO France’s ability to support companies’ transformation through complex integration processes and international growth.
Emmanuel Fiorentino, LBO Small Cap Investment Director at LBO France, said: “Our partnership with Prenax has been particularly fruitful. We are proud to have supported Prenax through this major transformation phase, which has enabled it to consolidate its leading position and attract the interest of Triton. This transaction demonstrates the extent of our expertise in creating value through operational strengthening and external growth.”
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About LBO France
A pioneer in private equity in France, the LBO France group is now a leading multi-specialist and multi-country investment platform. Active in Private Equity, Real Estate, Venture and on the listed markets, for several years the company has expanded its activities in Europe, particularly in Italy with its subsidiary Polis Fondi SGR, as well as on the African continent with its subsidiary CGF bourse. Owned 100% by its managers, LBO France is one of the founding members of the international climate initiative and one of the first signatories of France Invest’s charter for parity.
Learn more: www.lbofrance.com
Media contact
Nizar Berrada, nizar.berrada@taddeo.fr
+33.(0)6.38.31.90.50
List of stakeholders and advice on the transaction
Buyer(s): TRITON (Henrik THOLANDER, Sara DAMBERG), MANAGEMENT
Seller(s): LBO FRANCE (Jean-Marie LEROY, Emmanuel FIORENTINO), ANDERA PARTNERS (Laurent FICHTER, Jean-Baptiste BESSIERES, Antoine SOUCAZE)
Seller(s) M&A: LINCOLN INTERNATIONAL (Dominique LECENDREUX, Fredrik BOLANDER, Aurélien COURTADE, Camilla LINDAU, Margot GRIMAULT)
Seller(s) Lawyers: JEANTET (Pascal GEORGES, David HALLEL)
Seller(s) Financial Due Diligence: PWC (Arnaud THIBESART, Frederic MANSOUR)
Seller(s) Strategic Due Diligence: ROLAND BERGER (Yaroslav STETSENKO)
Managers Lawyers: GOODWIN (Jérôme JOUHANNEAUD, William DUCROCQ FERRE)