ACTARIS acquired by LBO FRANCE
Context
LBO France has reacquired control of Actaris through a tertiary leveraged buyout (LBO), marking a new milestone in the asset's capital rotation following its previous acquisition by Montagu Private Equity. This transaction is a continuation of the asset's strong value creation track record, driven by steady operational performance improvement, strategic positioning optimization, and progressive international expansion. In this new setup, LBO France aims to further develop Actaris by leveraging its market-leading position in water, gas, and electricity metering solutions, a sector fueled by the modernization of utility infrastructure and the growing importance of smart measurement technologies.
ACTARIS, which reported an EBITDA margin of in 2004, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.6x).
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Target
Actaris is a specialized provider of metering solutions for water, gas, and energy networks. The company designs and manufactures smart meters, measurement solutions, and associated systems that enable network operators to optimize consumption management and infrastructure utilization. As a global leader in measurement systems, Actaris primarily serves public and private sector clients, including energy providers, water utilities, and public service operators, with a significant international presence.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with ACTARIS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 02/2007 | ITRON | ACTARIS | FRANCE | Instrumentation & Measurement |
REFERENCES
Valuation range: EV 500M - 1.5b EUR
Revenue range: 450M - 900M EUR
EBITDA range: 50M - 100M EUR
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Acquirer: lbo france