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 premium to the 10.5x average currently observed in the Industry & Manufacturing sector.

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