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 Presentation Baromètre CNCFA EPSILON 2019 (in French)


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   Baromètre 2018

   Baromètre 2017

   Baromètre 2016

   Baromètre 2015

   Baromètre 2014

   Baromètre 2013

   Baromètre 2012

   Baromètre 2011

   Baromètre 2010


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The CNCFA EPSILON Observatory on SME Transmission was founded in 2010 by EPSILON RESEARCH and the CNCFA (Compagnie Nationale des Conseils en Fusions et Acquisitions).


Its mission: give information and analysis on the evolution of the SME transmissions market in France (and Europe), for both professionnal players and public institutions.


Market followed:

  • SME transmissions, both external (mergers & acquisitions) and internal (family / management)
  • Small and Medium sized Enterprises as defined by the European Commission (20-249 employees / €2m-€50m turnover) - excluding micro-enterprises and very small enterprises (< 19 employees / €2m turnover)
  • in France, with a comparison with key European countries


A yearly Barometer is published on the subject (in French)


Publication of the 2020 Barometer and presentation on 3 December 2020



Epsilon Research is an independent research and financial analysis bureau specializing in the private company M&A and private equity markets. It is a specialist provider of research, deal analysis and market intelligence on M&A and LBO transactions. It has developped the database of private company transaction multiples EMAT, now a reference source for the valuation of private companies.

In partnership with:





Multiples d'acquisitions de PME

EMAT - Epsilon Multiple Analysis Tool

Multiples sur 8.500+ transactions analysées depuis 2004, PME europénnes (€1m-€50m)


Test gratuit pour les professionnels

Yearly Questionnaire

(For French M&A advisors only)

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Last conference on SME Transmission