Mergers and acquisitions, fundraising and corporate finance for owners of small and mid-sized companies, across France and Europe.
Because every situation is unique, JTR Advisory supports entrepreneurs throughout all their capital and financing transactions, bringing a strategic, financial, and organizational perspective.
Advisory and support services for executives of small and medium-sized enterprises (SMEs) and mid-market companies in their M&A and external growth strategies, both in France and across Europe. Divestitures, acquisitions, build-ups, and carve-outs.
We get involved from the earliest rounds of financing and carefully select investors whose strategies and support meet your requirements.
Support for both one-time needs and long-term strategy: structuring, value enhancement, preparation for a sale, and review of opportunities.
Jean has nearly 15 years of experience in the financial sector, 10 of which have been dedicated to mergers and acquisitions.
He has contributed to more than 80 transactions (due diligence, sell-side/buy-side, build-up strategies, and fundraising) in France and Europe, covering a variety of sectors such as technology, logistics, agri-food, shipping, and automotive, during his time at the Big 4 firms and specialized M&A boutiques.
He founded JTR Advisory to advise entrepreneurs through every stage of their company's life.
For entrepreneurs, large corporates and private equity funds.
Fundraising
Fundraising
Fundraising from Macif
Strategic advisory — Crédit du Nord
Fundraising from Portage
Integration advisory — Johnson & Johnson
Carve-out advisory
Strategic advisory
Fundraising
Sale to Cordon Group
Acquisition of CNIM Systèmes Industriels
Fundraising from Bosch
Sale to MBDA / Safran
Integration advisory — TNT
Carve-out advisory
Carve-out advisory
M&A advisory
Sale to EPPF
Acquisition of Xenics
Fundraising — Seventure / Relyens
Sale to LFPI
Strategic advisory
Buy-side due diligence — undisclosed target
Buy-side due diligence — Neptune Orient Lines
Selected transactions.
Enter your SIRET number and two key figures. Your sector is identified automatically from the French company register, and the range is calculated from the multiples observed in your market.
This range rests on three figures. A full review moves the boundaries — often by twenty to forty percent, in either direction.
Indicative estimate, non-binding. This is an enterprise value, dont from which net financial debt must be deducted to reach the value attributable to shareholders. It constitutes neither investment advice nor an offer. Let's talk.
Eight questions owners ask before launching a transaction. The general answers are here; your own situation deserves a conversation.
A company’s value is most often calculated by applying a multiple to its EBITDA. Valuation levels vary considerably from one sector to another. Across all activities, the median observed in 2026 in the small and mid-market falls between 7x and 8x EBITDA. Want to know what your company is worth? Estimate its value with the valuation tool.
A structured sale process has six stages: preparation and valuation; drafting the marketing documents (anonymous teaser, then information memorandum); targeted approach to potential acquirers; receiving and negotiating letters of intent; due diligence conducted by the acquirer; and finally negotiation of the legal documentation and closing.
Allow six to nine months between launching the process and signing, for a transaction that runs normally. Upstream preparation — cleaning up the accounts, clarifying the perimeter, securing key contracts — takes a further one to three months. Processes that derail almost always do so during due diligence, when the acquirer discovers something the seller had not anticipated.
Compensation usually combines two elements: a fixed retainer covering preparation and execution work, and a success fee calculated as a percentage of the sale price, payable only at closing.
An investment bank handles large transactions with sizeable teams, in which the partner who won the mandate is rarely the one executing day to day. An independent boutique works on smaller deals, with a single point of contact from the first meeting through to signing. For an owner selling the company of a lifetime — a transaction they will go through only once — that continuity is often worth more than the size of the network.
It is the acquisition audit carried out by the buyer after the letter of intent is signed. It covers financial, legal, tax and employment matters, and depending on the case technical or environmental ones too. Its purpose is to verify that the company matches what was presented. A discrepancy found at this stage rarely leads to abandonment: it leads to a price renegotiation or to strengthened representations and warranties.
The best moment is rarely the one you feel forced into. An acquirer pays for a trajectory, not a track record: selling after two or three years of growth, with a healthy order book, beats waiting for the plateau. The costliest mistake is launching a process under pressure — a health problem, a dispute between shareholders, a cash squeeze — because the acquirer senses it and uses it.
For a small seed round within an existing network, not necessarily. Beyond that, an advisor brings three things that are hard to obtain alone: access to the funds genuinely active in your segment, the competitive tension that protects your valuation and your terms, and someone to run the process while you keep running the company. A poorly run round costs more in dilution than it would have cost in fees.
A question that isn't here? Write to me — I answer personally.
A sale, an acquisition, a fundraising, or simply a question of timing: a first conversation is confidential and without obligation.
