mynth
12/2022

AKIEM acquired by CDPQ - CAISSE DE DEPOT ET PLACEMENT DU QUEBEC

FRANCE Industrial Services / Equipment Rental EV €1–10bn

Context

SNCF and DWS sold their 100% stake in Akiem to CDPQ. This landmark transaction in the rail sector follows the divestment of Ermewa and aims to position Akiem as a key platform for the decarbonization of transport in Europe by investing in new, sustainable locomotive fleets.

AKIEM, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, representing a premium to the average currently observed in the Business Services sector (11.4x).

-> Deep-dive in Business Services market trends

Target

A leading European provider of locomotive leasing and maintenance services. Akiem manages a fleet of over 600 locomotives used by freight and passenger rail operators across continental Europe, offering full-service leasing solutions including technical support and spare parts management.

Ent. Value

€1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

Above 6x

EV / EBITDA

15x–25x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2021
€150–250M
€100–200M
[members only]
2020
€150–250M
€100–200M
[members only]

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REFERENCES

Valuation range: EV €1–10bn

Revenue range: €150–250M

EBITDA range: €100–200M

EV/Revenue range: Above 6x

EV/EBITDA range: 15x - 25x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of AKIEM by CDPQ - CAISSE DE DEPOT ET PLACEMENT DU QUEBEC 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.

Acquirer: cdpq - caisse de depot et placement du quebec