Ansemble, the leading independent accounting firm in the Provence-Alpes-Côte d’Azur region, generating 20 million euros in revenue with an EBITDA margin close to 20%, welcomes Cervinvest Capital and Sofipaca into its capital, alongside the firm’s fifteen partners.
This transaction marks Cervinvest Capital’s first investment, with the stated ambition of transforming the Provençal group into a consolidation platform for the south-eastern quarter of France.
Founded in 1994 in Manosque, Ansemble has built its position as a regional leader through external growth: around a dozen acquisitions carried out since 2017 have enabled it to cover 18 sites across PACA and serve more than 5,000 clients, including micro-businesses, SMEs, mid-sized companies, associations, and local authorities. The group now brings together 15 chartered accountant partners and 230 employees around a comprehensive offering: accounting, statutory audit, HR/payroll, legal and tax advisory, and management consulting.
Following a sale process led by Crédit Agricole Midcap Advisors, Cervinvest Capital is investing a minority stake alongside Sofipaca, the investment subsidiary of the regional Crédit Agricole bank, while the partners are reinvesting most of the sale proceeds to retain majority ownership of the company.
The independent accounting market brings together the perfect ingredients for a consolidation thesis: high fragmentation, recurring revenues, strong client loyalty, and a profession set to transform under the impact of digitalization and diversification into tax advisory, insurance brokerage, or legal services. Ansemble already holds the top position in PACA; the challenge now is to extend this network across the entire south-eastern quarter of France. For Cervinvest Capital, marking its very first investment, this transaction lays the foundation for a build-up strategy that the group intends to actively pursue in the coming months, with several targets already under discussion in the region.
