ALTHEO

What ALTHEO does

ALTHEO is a Paris-headquartered professional services firm specializing in business acquisition advisory and support for the French SME market. The firm serves three primary customer segments: individual repreneurs (former executives pursuing business takeover), SMEs and mid-market companies pursuing external growth through acquisition, and investment funds and family offices seeking deal flow. Its core service offering spans four integrated practices — SOURCING (proprietary identification of off-market targets through direct outreach to business owners), ACCOMPAGNEMENT (end-to-end transaction support through closing), VALORISATION D'ENTREPRISE (business valuation using patrimonial, returns-based, and DCF methods), and MENTORING DU REPRENEUR (post-close advisory for new owners) — supplemented by a specialized outplacement service for HR-sponsored executive transitions. Underlying the advisory practice is what the firm describes as a proprietary 'hidden market' (marché caché) sourcing methodology, positioning ALTHEO as a 'business hunter' (chasseur d'entreprises) that approaches companies before formal sale processes, with a stated minimum of 10 targets identified per engagement and a claim of reducing acquisition timelines by up to one year.

The firm is supported by an internal research and content ecosystem including ALTHEO Lab (doctoral theses, scientific articles, and academic partnerships), ALTHEO Live (a recurring webinar series hosted by founders Dr. Thierry Lamarque and Dr. Martine Story), Club Expertise & Business (a networking community), and a published library of books on acquisition strategy, negotiation, and post-acquisition integration. ALTHEO operates from a headquarters at 62 rue de Caumartin in Paris's 9th arrondissement and maintains 8 offices distributed nationally across France, employing 18 M&A professionals with a cumulative track record of 600+ completed operations. The firm has a referral partnership with EVALTEAM to cover the sell-side (divestiture) side of M&A.

ALTHEO's revenue model is professional services-based, generating income through retainer fees and success fees tied to completed transactions on a quote-based pricing structure tailored to engagement complexity. The firm is privately held, founder-owned by Thierry Lamarque (President-Founder) and Martine Story (General Director), with no disclosed external investment, funding rounds, or institutional shareholders. GTM is sales-led and relationship-driven, leveraging the founders' published expertise, media presence in outlets such as Le Monde du Chiffre and Fusions & Acquisitions Magazine, and academic engagements at institutions including Sciences Po Paris to generate referrals and inbound demand.

Name

ALTHEO

Legal name

ALTHEO

Website

https://www.altheo.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

ALTHEO is a Paris-based advisory firm specializing in SME business acquisition consulting in France, offering target sourcing, valuation, transaction support, and mentoring to individual repreneurs, growth-seeking SMEs, and investment funds across 8 national offices.

Ownership category

akta.pro rank

Product category

M&A Advisory / Business Acquisition Consulting

NAICS

Professional, Scientific, and Technical Services (54)

SIC

Services-Management Consulting Services (8742), Investment Advice (6282), Services-Management Services (8741)

akta.pro primary industry

Buy-Side Search & Acquisition Advisory (FSAEAIAD)

Keywords

• Business acquisition advisory
• SME M&A consulting
• Target sourcing services
• Company valuation advisory
• Repreneur mentoring

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Advisory and Consulting Services: ALTHEO generates revenue through professional consulting fees for business acquisition advisory services. The firm offers services including target sourcing, company valuation, mentoring, and transaction support. Revenue is generated through retainer fees and success fees tied to completed transactions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

ALTHEO is a French consulting firm providing business acquisition advisory and support services. Its core offer includes identifying off-market acquisition targets through direct approaches to business owners, full-scope transactional support until closing, business valuation using patrimonial/returns-based/DCF methods, and post-acquisition mentoring for the buyer. The firm serves individual repreneurs, SMEs pursuing external growth, and investment funds and family offices.

Product overview

ALTHEO is a consulting firm specializing in business acquisition advisory and support. The company operates as a single integrated service offering rather than a modular platform, providing a comprehensive suite of advisory services including target sourcing (SOURCING), personalized acquisition support (ACCOMPAGNEMENT), business valuation (VALORISATION D'ENTREPRISE), and entrepreneur mentoring (MENTORING DU REPRENEUR). The firm also offers specialized outplacement services for acquisition-oriented professionals. Complementing its advisory services, ALTHEO provides educational and research tools including publications (books on business acquisition, negotiation, and growth strategies), reference materials (glossary and quote collections), and a webinar platform (ALTHEO Live) hosting regular videoconferences on acquisition topics. The company maintains a research division (ALTHEO Lab) that produces scientific articles and doctoral theses in partnership with academic institutions.

Differentiator

Problem solved

Functional benefit

Brands

• ALTHEO Lab: Research division including doctoral theses, scientific articles, books, and partner network
• ALTHEO Live
• Club Expertise & Business

Products and services

• SOURCING (target search) Target sourcing service in which ALTHEO acts as a "business hunter" (chasseur d'entreprises), identifying unlisted sale projects by approaching business leaders directly in the hidden market. Targets individual repreneurs, SMEs pursuing external growth, and investment funds and family offices.
• ACCOMPAGNEMENT (transaction support) Personalized technical and operational advisory delivered throughout the entire acquisition process, from project validation to closing of the transaction. Designed for individual repreneurs and SMEs executing external growth acquisitions.
• VALORISATION D'ENTREPRISE (business valuation) Business valuation service combining patrimonial methods, return-based methods, and future cash flow methods (including DCF) to determine the fair market value of an acquisition target. Used by repreneurs, SMEs, and funds as part of acquisition due diligence.
• MENTORING DU REPRENEUR (acquirer mentoring) Operational and personalized mentoring for business acquirers during their takeover project, complementing the sourcing and transaction-support engagements. Targeted at individual repreneurs and SME acquirers.
• Outplacement spécialisé en reprise d'entreprise Specialized outplacement service for executives and managers pursuing a business acquisition or creation project, typically delivered in partnership with HR departments. Distinct from generic outplacement and aligned with ALTHEO's acquisition advisory practice.

Quantifiable outcome

• 600+ successful business acquisition operations completed
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• EVALTEAMminorStrategic or Co-development PartnerEVALTEAM is listed as a partner of ALTHEO. EVALTEAM is a consulting firm specializing in business divestiture (conseil en cession d'entreprise). The partnership appears to be a referral or complementary service arrangement for complete M&A coverage.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Lincoln International: Global mid-market M&A advisory with a strong Paris presence serving European SMEs, corporates, and PE funds. Overlaps with ALTHEO on French mid-market M&A mandates but with significantly broader sector and geographic coverage.
• Lazard: Global investment bank with a substantial French mid-market M&A practice. Comparable to ALTHEO on French M&A advisory activity but with vastly larger scale, broader service lines, and institutional client base.
• Edmond de Rothschild Corporate Finance: Private banking and corporate finance arm of Edmond de Rothschild, with an active French SME and mid-market M&A practice. Overlaps with ALTHEO on buy-side advisory and repreneur mandates but offers a broader wealth and capital markets platform.
• KPMG Corporate Finance (France): Big-Four corporate finance advisory in France covering SME and mid-market M&A. Overlaps with ALTHEO on French SME buy-side and sell-side advisory, but operates within a much wider audit and advisory portfolio.

Direct peers

• Cambon Partners: Paris-based independent M&A advisory boutique serving French mid-market and growth companies. Comparable to ALTHEO in target client size, French market focus, and sell-side / buy-side advisory activity, though broader across transaction types.
• Largillière Finance: French M&A advisory firm focused on SME and mid-market transactions. Directly comparable to ALTHEO in business transfer, LBO, and external growth mandates for French private companies, with similar boutique scale.
• Initiative & Finance: French independent M&A boutique advising SMEs and mid-market companies on buy-side and sell-side transactions. Closely comparable to ALTHEO's repreneur and SME growth segments and similar in geographic focus.
• 2C Finance: Paris-based corporate finance advisory supporting SMEs and mid-cap companies on M&A and financing transactions. Comparable to ALTHEO on mandate type, deal size, and French client base.
• In Extenso: French advisory network (Deloitte group affiliate historically) with strong regional coverage of SME transactions and business transfers. Comparable to ALTHEO on French SME M&A, repreneur support, and regional proximity to clients.

Others

• Bpifrance: French public investment bank that actively supports SME business transfers and repreneur financing across France. Not a direct competitor but a key ecosystem participant influencing ALTHEO's buyer pool and financing conditions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/Altheo_France
• Facebookfacebook.com/altheoreprisedentreprise
• LinkedInlinkedin.com/company/altheo

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ALTHEO