What was the revenue of ARMOR NAVIGATION & COMPAGNIE CORSAIRE at the time of the deal?

The revenue of ARMOR NAVIGATION & COMPAGNIE CORSAIRE at the time of the deal is estimated to be in the range of 5M - 25M EUR.

How is the data for the ARMOR NAVIGATION & COMPAGNIE CORSAIRE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ARMOR NAVIGATION & COMPAGNIE CORSAIRE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.cfnews.net/L-actualite/LBO/Operations/LBO/Un-nouveau-capitaine-pour-Armor-Navigation-et-Compagnie-Corsaire-544463

What is the average EV/EBITDA multiple for the Business Services sector in 2026?

The average EV/EBITDA multiple for the Business Services sector in 2026 is 11.4x.

← DATABASE

Home Database Business ServicesARMOR NAVIGATION & COMPAGNIE CORSAIRE

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 in 2024, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Business Services sector (11.4x).

-> Deep-dive in Business Services market trends

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

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2024

2023

Similar deals in Transport & Logistics

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
12/2025	21 INVEST	ParkinGO Group	ITALY	Infrastructure & Ground Services
12/2025	GROUPE ALAINE	GAMBA & ROTA	FRANCE	Road Freight
10/2025	ANTIN INFRASTRUCTURE	ACMI SERVICES	FRANCE	Freight Transport
10/2025	RE-SOURCES	CLARETON	FRANCE	Road Freight
10/2025	ANTIN INFRASTRUCTURE	SWIFTAIR GROUP	SPAIN	Air Freight
09/2025	COLIS PRIVE	MIPI	FRANCE	Last Mile Delivery
08/2025	Icelandair	Fly Play	MALTA	Airlines
07/2025	MBO+	GROUPE LOGTRANS	FRANCE	Freight Transport
04/2025	TRANSARC	PLACE MOBILITE	FRANCE	Bus & Coach
04/2025	INFRACAPITAL	SAF AEROGROUP	FRANCE	Transport & Logistics

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: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: armor navigation & compagnie corsaire

Acquirer: inner