ALVEST acquired by PAI PARTNERS & ADIA
Context
PAI Partners and ADIA completed the acquisition of a majority stake in Alvest from Ardian. The incumbent sponsor, Ardian, retains a minority stake, and the founders and management team significantly reinvested in the transaction. This new ownership structure is designed to fund Alvest's next expansion phase, with a heavy emphasis on technological innovation: accelerating the deployment of electric GSE fleets, developing autonomous ground vehicles, and expanding high-margin services such as predictive maintenance and leasing solutions.
ALVEST, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to 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.
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Target
Headquartered in France, Alvest is the global market leader in the design, manufacture, and distribution of airport Ground Support Equipment (GSE) and technical adhesive solutions. Through its flagship brand TLD, the group provides a comprehensive range of equipment including aircraft tugs, loaders, baggage tractors, and air conditioning units. With 11 factories and over 4,000 employees serving customers in 170 countries, Alvest is at the forefront of the "Green Aviation" transition, pioneering electric and autonomous ground handling solutions to reduce airport CO2 emissions.
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Historical Financials (EUR)
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REFERENCES
Valuation range: EV 1b - 4b EUR
Revenue range: 500M - 1b EUR
EBITDA range: 100M - 200M EUR
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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).
Target: alvest
Acquirer: pai partners / adia