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 [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, representing a premium to the average currently observed in the Industry & Manufacturing sector (11.7x).
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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.
Ent. Value
€1–10bn
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
15x–25x
EV / EBIT
[members only]
Historical Financials (EUR)
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REFERENCES
Valuation range: EV €1–10bn
Revenue range: €500M–1bn
EBITDA range: €100–200M
EV/Revenue range: 1x - 3x
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 ALVEST by PAI PARTNERS / ADIA 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.
Target: alvest
Acquirer: pai partners / adia