ACV acquired by GROUPE ATLANTIC
Context
Groupe Atlantic has finalized the 100% corporate acquisition of Belgian thermal comfort specialist ACV, marking a significant cross-border consolidation play within the European HVAC sector. Founded fifty years ago by Pierre Lamoure and Paul Radat, ACV is widely renowned for its high-performance sanitary water heating and space heating solutions tailored for both residential and commercial applications. The transaction perimeter strategically incorporates ACV’s North American operational subsidiary based in New Jersey, where the company successfully commercializes its product pipeline under the Triangle Tube brand. Supported by dedicated financial and legal advisors, this acquisition offers the French family-owned industrial group a transformational opportunity to instantly extend its strategic influence and geographic footprint into the high-growth US market.
ACV, which reported an EBITDA margin of LOGIN in 2017, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Industry & Manufacturing sector (11.6x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
-> Deep-dive in Industry & Manufacturing market trends
Target
ACV is a Belgian group specializing in sanitary water heating and heating solutions for residential and commercial use, founded fifty years ago by Pierre Lamoure and Paul Radat. The group has a network of 15 subsidiaries present in over 40 countries, including a US subsidiary located in New Jersey, where ACV markets its products under the Triangle Tube brand. ACV is renowned for its innovative heating and air conditioning solutions, and its scope of activity includes notably the production of sanitary water heating and heating for residential and commercial use. The group has developed a diversified range of products, ranging from gas wall boilers to heating systems for residential and commercial use, and benefits from significant international presence, with subsidiaries and partners in many countries.
Ent. Value
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (EUR)
Similar deals in Industry & Manufacturing
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 02/2019 | DANAHER | GE LIFE SCIENCES | UNITED STATES | Industrial Equipment | Danaher has finalized an agreement to acquire GE Biopharma in a transformational all-cash transaction, an operation designed to fundamentally redefine the landscape of the global bioprocessing market. The strategic rationale for this transaction centers on a "Bioprocessing-Powerhouse" play, merging the target's industry-leading technical operational depth in chromatography and cell culture with the group’s established life sciences platform and the power of the Danaher Business System. This structural alignment provides the organization with the scientific talent and technological hardware—specifically across upstream and downstream workflows—required to address the surging global demand for biologic drug development |
| 01/2019 | ARDIAN | CELLI GROUP | ITALY | Industrial Equipment | Ardian acquired 100% of Celli from Consilium (70%) and the founding family (30%). The management team reinvested alongside Ardian to hold a minority stake. The deal ended a successful six-year holding by Consilium, during which Celli completed four acquisitions (ADS2, Cosmetal, Angram, FJE Plastic). Ardian's entry is designed to accelerate international expansion and further leverage Celli's digital IT platform for remote dispenser management. |
| 07/2018 | WEIR GROUP | ESCO CORPORATION | UNITED STATES | Industrial Equipment | The acquisition of ESCO Corporation by The Weir Group represents a transformative consolidation in the global mining equipment sector, creating a leading provider of mission-critical surface mining solutions. Structurally, the transaction brings together the acquirer’s established expertise in materials processing and minerals equipment with the target’s leadership in ground engaging tools. The strategic rationale for the deal is grounded in the complementarity of the two portfolios, which allows the combined entity to offer a unique, integrated proposition for mining customers, spanning the entire lifecycle from extraction to mineral concentration |
| 07/2018 | TSINGHUA UNIGROUP | LINXENS | FRANCE | Industrial Equipment | Tsinghua Unigroup has agreed to acquire Linxens, a French supplier of micro‑connectors for smart‑card and payment‑card applications. The transaction, announced in July 2018, follows a month‑long negotiation period and is subject to clearance by French, German and European competition authorities. Linxens, previously owned by private‑equity firm CVC since 2015, operates production facilities in France and Asia and serves a global customer base across telecom, finance, transport and health sectors |
| 07/2018 | ARDIAN | COROB | ITALY | Industrial Equipment | Ardian has successfully finalized an agreement with Wise SGR to acquire a majority stake in Corob S.p.A., marking a strategic entry into the specialized automation sector. This transaction is structured as a partnership, with both the existing financial sponsor (Wise SGR) and the senior management team, led by the President and CEO, reinvesting alongside the new majority owner. The strategic rationale for the acquisition centers on consolidating the firm’s global repositioning and maintaining its technology leadership in the highly specialized dosing and dispensing market |
| 07/2018 | MAREL | MAJA | GERMANY | Industrial Equipment | The transaction represents the 100% ownership transition of MAJA into Marel’s corporate architecture, finalizing a strategic succession process for the historical family owners who have managed the asset since its inception in 1955. This transaction executes a clear capital deployment logic by incorporating MAJA’s specialized skinning and portioning hardware into Marel’s broader multi-protein portfolio, effectively filling an upstream technical gap and establishing a comprehensive full-line offering for the global meat industry |
| 05/2018 | MOTION EQUITY PARTNERS | HOLWEG WEBER | UNITED STATES | Industrial Equipment | Holweg Weber has been acquired by Motion Equity Partners in a leveraged buyout that concludes a competitive process overseen by UBS and involves the exit of Azulis Capital and several minority shareholders. The transaction brings together Motion Equity Partners, its limited partner Arkéa Capital and the incumbent management team, which reinvests the majority of its cash‑out to retain operational continuity. European Capital structures a unitranche facility of approximately thirty‑five to forty million euros to finance the purchase price and provides an additional growth‑capital line intended to fund future bolt‑on acquisitions |
| 10/2017 | IK PARTNERS | LINXIS GROUP | FRANCE | Industrial Equipment | The acquisition of Bretèche Industrie (now LINXIS GROUP)by IK Investment Partners represents a major turning point in the group’s trajectory, marking the end of a successful investment cycle under Equistone Partners Europe. The strategic rationale for this transaction centers on an "international-consolidation" play, merging the target's industry-leading technical operational depth in specialized machinery with the sponsor's extensive expertise in cross-border scaling and buy-and-build execution |
| 04/2017 | Genuine Parts Company | Empire Wire and Supply | UNITED STATES | Industrial Equipment | Genuine Parts Company (GPC) announced the acquisition of Empire Wire and Supply through its Electrical/Electronic Materials Group (EIS), a platform focused on industrial electrical and electronic solutions. Headquartered in Rochester Hills, Michigan, Empire specializes in custom cable assemblies and distributes a broad range of network cabling, electrical, automation and safety products to original equipment manufacturers (OEMs) and industrial maintenance customers. Operating across multiple locations in the United States and Canada, Empire brings complementary technical expertise and an established presence in the industrial connectivity market |
| 04/2017 | HITACHI HIGH-TECHNOLOGIES CORPORATION | OXFORD INSTRUMENTS (INDUSTRIAL ANALYSIS) | UNITED KINGDOM | Industrial Equipment | The agreement to acquire the Industrial Analysis business represents a strategic expansion of analytical technology portfolios, particularly in the sectors of environmental safety and material security. This carve-out operation will integrate specialized handheld and benchtop instrumentation into a broader global technology platform, enhancing the available range of scientific solutions. The consolidation of these technical capabilities is designed to strengthen the market position in high-tech material analysis while providing a clear path for future product development |
REFERENCES
Revenue range: 100M - 200M EUR
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ACV by GROUPE ATLANTIC are reserved for mynth community members. Register for free to unlock full data.
Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: acv
Acquirer: groupe atlantic