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10/2025

ARMOR NAVIGATION & COMPAGNIE CORSAIRE acquired by INNER

FRANCE Transport & Logistics / Passenger Transport / Marine Passenger REV 5M - 25M EUR

Context

The Breton group Armor Navigation, a family-owned specialist in maritime excursions and passenger transport based in Perros-Guirec, has been acquired by the Parisian investment group Inner. The transaction, finalized in October 2025, covers all the group's entities: the operating companies Armor Navigation and Compagnie Corsaire (Saint-Malo), as well as the real estate assets held by SCI Armor Navigation.

ARMOR NAVIGATION & COMPAGNIE CORSAIRE, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Business Services sector (11.1x).

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

A leading maritime tourism operator on the Emerald Coast (Brittany). The group operates a fleet of passenger vessels offering regular shuttle services (Saint-Malo / Dinard) and tourist excursions to sites like Cap Frehel, Fort-La-Latte, and the Chausey Islands. It is a key player in the local tourism ecosystem.

Ent. Value

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Equity Value

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Multiples

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

Year
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EBITDA
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2024
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2023
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REFERENCES

Revenue range: 5M - 25M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ARMOR NAVIGATION & COMPAGNIE CORSAIRE by INNER are reserved for mynth community members. Register for free to unlock full data.

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: armor navigation & compagnie corsaire

Acquirer: inner