Actaris acquired by LBO France

FRANCE Industrial Equipment / Special Machinery / Instrumentation & Measurement EV €500M–1.5bn

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 [members only] in 2004, is valued in this transaction at an EV/EBITDA multiple of 5x–12x.

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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

€500M–1.5bn

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2004

2003

Other operations with Actaris

Other operations with Actaris
Date	Acquirer	Target	Country	Sector
02/2007	ITRON	ACTARIS	FRANCE	Instrumentation & Measurement

Other operations with LBO France

Other operations with LBO France
Date	Acquirer	Target	Country	Sector
12/2021	LBO FRANCE	ALLIANCE MARINE	FRANCE	Sport
11/2020	LBO FRANCE / ANDERA PARTNERS	PRENAX GROUP	SWEDEN	BPO & Outsourcing
03/2020	LBO FRANCE	DUTSCHER	FRANCE	Medical Consumables
03/2019	LBO FRANCE	INFODIS	FRANCE	Consulting & Integration
03/2019	LBO FRANCE	GROUPE PASSMAN	FRANCE	IT Equipment
12/2017	LBO FRANCE	CROUZET	FRANCE	Sensors & Optics
04/2015	LBO FRANCE	IKKS GROUP	FRANCE	Fashion & Apparel
10/2010	LBO FRANCE	MATERNE-MONTBLANC (MOM GROUP)	FRANCE	Food Products
04/2007	APAX PARTNERS / LBO FRANCE	MAISONS DU MONDE	FRANCE	Home & DIY
09/2003	LBO FRANCE	MATERIS	LUXEMBOURG	Construction Materials

Similar deals in Industrial Equipment

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09/2012	AZULIS CAPITAL	HOLWEG WEBER	UNITED STATES	Robotics & Automation
05/2012	HG CAPITAL	QUNDIS	GERMANY	Instrumentation & Measurement
07/2011	ABENEX	VULCANIC	FRANCE	Boilers & Thermal Solutions
04/2011	CINVEN	SLV	GERMANY	Electrical Equipment
08/2010	EQUISTONE	MPS MEAT PROCESSING SYSTEMS	NETHERLANDS	Food & Beverage Lines
05/2007	21 INVEST	SUD ROBINETTERIE INDUSTRIE	FRANCE	Valves, Pumps & Taps
02/2007	ITRON	ACTARIS	FRANCE	Instrumentation & Measurement

REFERENCES

Valuation range: EV €500M–1.5bn

Revenue range: €450–900M

EBITDA range: €50–100M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Actaris by LBO France are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers LBO France’s acquisition of 100% of Actaris, a French company specialised in Special Machinery, in 2005, structured as a leveraged buyout (LBO). Ownership has since evolved, leading to a subsequent transaction with Itron in February 2007 (see the dedicated deal page for details).

How was the acquisition of Actaris by LBO France valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €500M–1.5bn band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Actaris’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Actaris generated annual revenue estimated in the €450–900M range and EBITDA in the €50–100M bracket (FY 2004). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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