mynth
← DATABASE
05/2017

ASSYSTEM GLOBAL PRODUCT SOLUTIONS acquired by ARDIAN

FRANCE Industrial Services / Engineering & Consulting EV 500M - 1.5b EUR

Context

Assystem entered into an agreement to sell a majority stake in its Global Product Solutions (GPS) division to Ardian. The transaction was structured as a carve-out where GPS was transferred to a new entity controlled by Ardian. The parent company, Assystem S.A., reinvested a significant portion of the proceeds to retain a minority interest and governance rights. The deal was supported by a senior debt package in the form of a Term Loan B (TLB). This strategic move allowed Assystem to refocus its resources on its historical infrastructure and energy activities, including potential investments in the nuclear sector, while providing GPS with the independent financial structure required for international consolidation.

ASSYSTEM GLOBAL PRODUCT SOLUTIONS, which reported an EBITDA margin of in 2016, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.3x).

-> Deep-dive in Business Services market trends

Target

Formerly the flagship division of Assystem S.A., GPS specializes in product engineering and outsourced R&D services. The division primarily serves the aerospace (59%) and automotive (33%) sectors, supporting Corporate clients through complex product development cycles.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2016
2015

Similar deals in Industrial Services

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
06/2017ELEMENT MATERIALS TECHNOLOGYEXOVA GROUPUNITED KINGDOMTIC (Testing, Inspection, Certification)
06/2017PARQUEST CAPITALACCES INDUSTRIEFRANCEEquipment Rental
05/2017ADVENT INTERNATIONALIPH GROUPFRANCEIndustrial & Technical Distribution
02/2017LOXAMHUNESPAINEquipment Rental
06/2016Alliance Automotive GroupBUSCHGERMANYIndustrial & Technical Distribution
04/2016ARDIANTRIGOFRANCETIC (Testing, Inspection, Certification)
01/2016Alliance Automotive GroupElectro Diesel ServiceFRANCEIndustrial & Technical Distribution
12/2015KKRLGC GROUPUNITED KINGDOMTIC (Testing, Inspection, Certification)
12/2015BRIDGEPOINTELEMENT MATERIALS TECHNOLOGYUNITED KINGDOMTIC (Testing, Inspection, Certification)
10/2015MBO+EMAGINEDENMARKEngineering & Consulting

REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 25M - 50M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ASSYSTEM GLOBAL PRODUCT SOLUTIONS by ARDIAN 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: assystem global product solutions

Acquirer: ardian