Growth equity firm General Atlantic and UK-based buyout house Oakley Capital are nearing an agreement to acquire French SaaS provider Brevo in a transaction valuing the business at approximately €1bn ($1.1bn), according to a report by Bloomberg citing sources with knowledge of the matter.
The firms are currently in exclusive negotiations with existing shareholders including Bridgepoint Group, Partech Partners, and Bpifrance, the sources said.
Under the proposed terms, Bridgepoint and Bpifrance are expected to retain minority positions, while Partech is set to fully exit its stake. A final agreement could be announced in the coming days, subject to final due diligence and regulatory clearances.
The deal, if completed, would mark one of the largest private equity-backed software buyouts in France this year and underscores continued investor appetite for recurring-revenue businesses in the CRM and marketing automation space.
Paris-headquartered Brevo – formerly known as Sendinblue– offers a unified CRM and communications platform supporting marketing, sales, messaging, and customer data management. The company serves a broad enterprise and mid-market customer base, including Montblanc, eBay, L’Occitane, and LVMH.
Brevo reported €179m in annual recurring revenue (ARR) in 2024, according to figures shared with potential investors. The buyout is expected to be financed through a private credit facility structured around ARR metrics, following earlier reports that lenders had been approached to underwrite the deal.
While the transaction is in advanced stages, sources cautioned that timing could still shift and discussions may yet fall through.
General Atlantic, Oakley Capital, Bridgepoint, and Bpifrance declined to comment. Partech did not respond to requests for comment.
