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PAI Partners adds Euro Media Group to portfolio

24 Apr 2014

paris5_sqEuropean private equity firm PAI Partners has agreed to buy audiovisual services company Euro Media Group.

PAI said it has made a binding offer for Euro Media without disclosing the terms of the deal, which is expected to be finalised in the current quarter.

French newspaper Le Figaro said that the group was valued at just under €200m and the firm said that it agreed to pay four times the company’s EBITDA, which it said was a very attractive valuation.

Earlier this month PAI invested in CST in a deal that valued the business at 7.6 times its EBITDA.

In January it was reported that PAI had secured €1.4bn towards it latest buyout fund, which is targeting €3bn.

The firm’s €2.7bn previous fund raised in 2008 is now fully invested. That fund raised 5.4bn, but its size was reduced after partners Dominique Mégret and Bertrand Meunier left the firm following a feud with chairman Lionel Zinsou.

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