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01/2024

DEMATHIEU BARD acquired by BNP PARIBAS DEVELOPPEMENT, SOCIETE GENERALE CAPITAL PARTENAIRES, BTP CAPITAL, BPIFRANCE & CREDIT MUTUEL EQUITY

FRANCE Construction REV 1b - 3b EUR

Context

Demathieu Bard has completed its fifth management buy-out, a strategic transaction designed to further align company ownership with its operational leadership. The deal facilitates a significant increase in the stake held by the company's internal stakeholders. The historical management team, the group's executive board, and over 225 senior managers, alongside an employee savings fund (FCPE), now collectively own a controlling majority of the company's capital. This move solidifies management's control and is intended to foster long-term commitment and drive continued growth from within. The remaining minority stake is held by a consortium of eleven financial investors. This pool is largely composed of long-standing partners who have supported the company through previous buy-outs, demonstrating their sustained confidence in the group's strategy and performance. The consortium was also expanded to include a new investor, Crédit Agricole Régions Investissement. The transaction was financed with a senior debt package provided by a syndicate of four French banks: LCL, Crédit Agricole, BPCE, and CIC Est. This leveraged buy-out structure supports the group's capital reorganization following a period of strong top-line growth and positions it for its next strategic phase.

DEMATHIEU BARD, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of .

Target

Founded in 1861, Demathieu Bard is a major French construction and public works group with a diversified portfolio of activities. The company operates across four primary business lines: Infrastructure & Civil Engineering, Building, Prefabrication, and Real Estate Development. In its Infrastructure and Civil Engineering division, the firm undertakes large-scale projects such as bridges, tunnels, and public transport infrastructure. The Building division covers a wide range of projects, including residential complexes, commercial offices, industrial facilities, and public buildings like hospitals and schools. A key differentiator is its significant in-house prefabrication capability, which allows for greater control over quality, costs, and project timelines by manufacturing structural components off-site. The Real Estate Development arm focuses on managing property projects from land acquisition through to commercialization. With a long-standing history of technical expertise, the group has expanded its footprint beyond France into other European markets and North America. As of the early 2020s, the company employs approximately 4,200 people across 55 locations, positioning itself as a key player in the European construction sector with a reputation for handling complex and technically demanding projects.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2023
2022

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REFERENCES

Revenue range: 1b - 3b EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of DEMATHIEU BARD by BNP PARIBAS DEVELOPPEMENT / SOCIETE GENERALE CAPITAL PARTENAIRES / BTP CAPITAL / BPIFRANCE / CREDIT MUTUEL EQUITY 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: demathieu bard

Acquirer: credit mutuel equity / btp capital / bnp paribas developpement / bpifrance / societe generale capital partenaires