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Corporate Finance

Since 1990 Mirabaud has offered a wide range of services for public and private companies. Its services include equity research, capital markets, corporate advisory as well as institutional brokerage.


Case Study

Acquisition of IEF2I by MBO & CO

Mirabaud Advisors acted as advisors of MBO & Co on the acquisition of IEF2I, in a highly competitive process.

Deal Overview

Date: August 2021

Sector: Financial services

Type of transaction: M&A - Sell side advice

Deal Team: Stéphane Benouaich / Paul Krotoff

About IEF2I

  • Established in 1998, IEF2I is a leading player within the Digital, IT and Business education market. The company is controlled by founder, Chantal Berdaa, and her family
  • The group has a strong position in the apprenticeship market thanks to a network of more than 3,000 partner companies
  • IEF2I offers 18 programs through 4 different schools including Digital School of Paris, Institut IF2I, IF2I Formation and Web Knowledge (e-learning platform)
  • Created in 2002, MBO & Co is a private equity house specialising in capital investment in small and mid-cap companies valued between €20m - €100m
  • MBO & Co has €580m of assets under management and has completed more than 100 transactions including build-up since its creation
  • MBO & Co has recently diversified its activities in Spanish, Belgian and Swiss companies


Visit IEF2I official website

Visit MBO & Co official website

Transaction overview

  • The transaction purpose was to accelerate the organic growth of IEF2I and to support its buy-and-build M&A strategy
  • Mirabaud Advisors was mandated by MBO & Co as buy-side M&A advisor
  • Thanks to its deep relationships with the shareholders (both the founder and CEO, Chantal Berdaa, and minority PE shareholder Alliance Entreprendre), Mirabaud Advisors guided MBO & Co to stand out from other suitors and build up goodwill and trust with the controlling family

Though mandated from the second round of a competitive process, we managed to secure and strengthen MBO & Co’s unrivaled value proposition to IEF2I. MBO & Co is the ideal partner to further accelerate the growth of IF2I to become a major player in the field of education in France.

Stéphane Benouaich
Head of Mirabaud Advisors, France

Mirabaud contribution and added value

  • This deal highlights the ability of Mirabaud Advisors to efficiently advise its clients in a competitive process as well as its deep understanding of family-owned businesses
  • Mirabaud Advisors has also shown its in depth knowledge of primary LBO situations, as well as its expertise in dealing with family-owned companies

Case study

Case leader

Corporate finance


Head of Mirabaud Advisors, France

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