| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | n/a | n/a |
| Intrinsic value (DCF) | n/a | |
| Graham-Dodd Method | n/a | |
| Graham Formula | 1114.55 | 10032 |
Altur Investissement SCA, SCR is a France-based private equity firm specializing in buyouts, including leveraged buyouts (LBOs) and owner buyouts, as well as growth capital investments in small and medium-sized enterprises (SMEs). The firm focuses on sectors such as healthcare, internet, sustainable development, distribution, industrials, hospitality, and services. Altur Investissement exclusively targets private companies with a maximum enterprise value of €100 million, taking both majority and minority stakes. Its flexible investment strategy allows it to act as a sole or lead investor with an unlimited investment horizon. Operating in the competitive asset management industry, Altur Investissement differentiates itself by targeting niche, high-potential SMEs in France and beyond. With a market capitalization of approximately €42.5 million, the firm maintains a disciplined approach to capital allocation, evidenced by its strong net income of €7.5 million in 2022 and a healthy cash position of €11.3 million.
Altur Investissement presents an intriguing investment opportunity for those seeking exposure to the French private equity market, particularly in SME buyouts and growth capital. The firm's disciplined investment strategy, strong 2022 net income of €7.5 million, and zero debt position underscore its financial stability. However, its small market cap (~€42.5M) and niche focus on sub-€100M enterprises may limit scalability compared to larger private equity players. The firm's beta of 0.606 suggests lower volatility relative to the broader market, which could appeal to risk-averse investors. A modest dividend yield (€0.15 per share) provides some income, though the primary appeal lies in capital appreciation potential from its SME portfolio. Key risks include concentration in French SMEs, illiquidity inherent in private equity holdings, and economic sensitivity to European SME performance.
Altur Investissement occupies a specialized niche in the French private equity landscape, differentiating itself through its exclusive focus on smaller private companies (sub-€100M enterprise value) and flexible investment approach (both majority/minority stakes). Unlike larger pan-European private equity firms, Altur's strength lies in its local market expertise and ability to identify under-the-radar SME opportunities in sectors like sustainable development and healthcare services. The firm's unlimited investment horizon allows for patient capital deployment—a competitive edge versus funds constrained by fixed timelines. However, its small scale limits access to larger deals and diversification compared to major competitors. Altur's zero debt position provides financial flexibility but may also suggest underutilization of leverage common in private equity. The firm's 2022 performance (€7.5M net income on €2.0M revenue) indicates strong portfolio management, though reliance on a limited number of exits for returns is an inherent industry risk. Its Paris listing provides some liquidity uncommon among private equity vehicles, but the stock's low beta (0.606) may reflect limited correlation with broader private equity performance metrics.