ARMOR NAVIGATION & COMPAGNIE CORSAIRE acquired by INNER

In a major market consolidation move, the logistics giant GEODIS has signed an agreement to acquire the Groupe Malherbe. This "Corporate" transaction marks the exit of financial investors (Siparex, etc.) and the end of Malherbe's independent LBO cycles. By integrating Malherbe, GEODIS significantly strengthens its French road transport network, creating a combined entity with EUR2 billion in revenue solely in this segment (Road Transport), capable of competing with European leaders.

The Groupe Alaine has acquired a majority stake in Gamba & Rota, a recognized specialist in wine and spirits logistics. This acquisition allows Alaine to strengthen its "premium" service offering and integrate advanced automated warehousing capabilities (Autostore) into its network. For Gamba & Rota, joining a larger family-owned group ensures the company's durability and development while retaining its management team.

Antin Infrastructure Partners has acquired a majority stake in Swiftair, a leading European provider of outsourced express air freight services. This investment supports the group's new growth phase, focusing on fleet modernization and market consolidation. As a key partner for global logistics leaders, Swiftair will leverage Antin's expertise to expand its specialized network across critical sectors like e-commerce, pharmaceuticals, and food logistics.

Antin Infrastructure Partners has entered into a definitive agreement to acquire a majority stake (exceeding 70%) in Swiftair Group. The founder, Salvador Moreno, will retain a significant minority stake and continue as CEO to lead the next phase of growth. This investment represents the seventh transaction for Antin’s €2.2 billion Mid Cap Fund I. The strategic rationale focuses on capitalizing on the structural growth of the express airfreight market, fueled by e-commerce and critical logistics demand. Antin intends to support Swiftair in modernizing its fleet and pursuing further market consolidation, following the company’s previous successful acquisitions of Cygnus Air and West Atlantic. The partnership aims to optimize Swiftair’s intra-European routes while opportunistically exploring high-growth markets to meet the global needs of its Tier-1 integrator client base. The deal was supported by financial advisors Deutsche Bank and BBVA for the buyer, and Morgan Stanley for the seller.

Clareton, a refrigerated transport specialist in Occitanie, structures its first LBO ("OBO/LBO") to finance a strategic external growth operation. The group brings in Re-Sources Capital as a minority financial partner, with 3mEUR equity investment.

Logtrans Services, a key player in container transport logistics in Southern France, completes its first LBO (Primary LBO). The founder invites the private equity firm MBO+ to take a majority stake in the capital. This partnership aims to structure the group and provide the financial firepower needed to accelerate external growth. The ambition is to consolidate the fragmented market of container road transport and expand the group's footprint beyond the Mediterranean region.

Transarc acquired 100% of Place Mobilite, marking a significant strategic step in its national expansion. The transaction was driven by the retirement of the historic owner-manager, ensuring the continuity of the family business founded in 1957. This deal exemplifies the ongoing consolidation in the French passenger transport sector.

SAF Aerogroup, part of the Oaktree and Bpifrance portfolio since 2017, is set to be acquired by Italy's Vesper Infrastructure and the UK's Infracapital. The group, with revenues of EUR110 million, is valued at nearly EUR300 million.

Channelfret International has finalized a Management Buy-Out (MBO) designed to structure the smooth leadership succession of its founder. This shareholder transition allows the company's key executive team to assume operational control and acquire a majority equity stake, ensuring strict corporate continuity. Specializing in international freight forwarding and cross-border logistics management, the entity leverages this leveraged buyout framework to preserve its operational model and safeguard its deeply entrenched B2B customer relationships. The long-term growth thesis underlying this MBO centers on consolidating its core freight corridors, accelerating the digital transformation of its chartering workflows, and rolling out new value-added supply chain solutions to drive scalable growth.

Safestore Holdings PLC and Nuveen Real Estate have established an evenly split joint venture to acquire 100% of Easybox. This strategic partnership marks the formal entry for both entities into the Italian self-storage sector, which is currently identified as one of the most under-penetrated markets in Western Europe. The transaction includes ten income-producing facilities with strong trading track records and two specialized turn-key development projects located in Milan, which are scheduled for delivery in the first half of 2025. Safestore’s initial equity contribution was funded via a dedicated loan facility, with the management anticipating the investment to be earnings-accretive by 2027 as the development sites reach operational maturity. The joint venture intends to institutionalize the Easybox platform by integrating it into Safestore’s broader European network, focusing on leveraging data-driven pricing and management expertise to achieve a projected 10% stabilized return. This move significantly diversifies Safestore’s geographic footprint, adding Italy to its existing operations in the UK, France, Spain, and the Benelux region.