LBO France acquires Passman group

LBO France has acquired a majority stake in the capital of the Passman group, a Villeurbanne based digital solution company. Financial terms were not disclosed. “Our ambition is to support the company’s founders in their external growth project. We want to help them in this structuring phase to become a fully-fledged acquisitions platform. In 2018, the Group acquired its Belgian competitor Screen Services, a company specialising in digital solutions for the hotel sector and care facilities and intends to continue to pursue its international development.” Jean-Marie Leroy, Partner at LBO France. The Passman group has over 70 employees and more than 5,900 clients in France with presence in 42 countries. The Company had revenues of €27m in 2018, with an average annual growth rate of more than 15% over the past ten years.