Six months after Cervinvest Capital came on board, the Provençal accounting group, which generates €20 million in revenue, completes its first build-up and crosses the borders of the PACA region. The acquisition of ECA, a firm based in Meylan, establishes an initial foothold in Auvergne-Rhône-Alpes. This move foreshadows a methodical consolidation strategy across the south-eastern quarter of France.
Ansemble started from a solid base: the leading independent accounting group in PACA, with 18 offices spread across a dense regional network, and a positioning centered on close client relationships with micro-businesses, SMEs, and local authorities. ECA, a Grenoble-area firm based in Meylan, Isère, brings three chartered accountants and 31 additional employees — and, above all, a first foothold in Auvergne-Rhône-Alpes. The group now crosses the €25 million revenue threshold, with profitability exceeding 20%. The transaction was completed six months after Cervinvest Capital and Sofipaca joined the company’s capital.
The independent accounting market has structural characteristics that favor consolidation: high fragmentation, low private equity penetration, recurring revenues, and strong client loyalty. Targets exist in large numbers, geographic and business complementarities are clearly identifiable, and integration barriers remain manageable.
