ECF GROUP acquired by PAI PARTNERS
Context
PAI Partners acquired a majority stake in ECF Group, valuing the company between EUR800M and EUR850M. Naxicap Partners, the previous majority owner, reinvested as a minority shareholder. The transaction aims to support ECF's dynamic "buy-and-build" strategy (30 acquisitions in 5 years) and its expansion into new segments like fast food and hygiene services.
It is worth noting that the fund Naxicap Partners took control of Ecf Group through an LBO in 2016.
ECF GROUP, which reported an EBITDA margin of [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average currently observed in the Business Services sector (11.4x).
-> Deep-dive in Business Services market trends
Target
ECF Group is a leading distributor of small equipment and consumables specifically designed for the hospitality, catering, and food service sectors. The business model revolves around a comprehensive multi-channel distribution strategy, serving a diverse client base ranging from independent restaurateurs and large hotel chains to healthcare facilities and public sector collectives. The company offers an extensive catalog of over 50,000 product references, including tableware, professional kitchenware, hygiene products, and furniture. These are marketed through a mix of proprietary brands and partnerships with international manufacturers. A key pillar of its operations is a robust logistics and supply chain infrastructure that ensures high product availability and rapid delivery. The group also leverages a specialized network of franchised stores and professional boutiques to maintain a strong local presence. With significant operations in Europe, Australia, and the Middle East, the company focuses on providing a "one-stop-shop" solution for professionals in the "Arts de la Table" and industrial kitchen segments.
Ent. Value
€500M–1.5bn
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
5x–12x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with ECF GROUP
Other operations with ECF GROUP
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 12/2016 | NAXICAP PARTNERS | ECF GROUP | FRANCE | Hospitality Supplies |
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Other operations with PAI PARTNERS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2026 | PAI PARTNERS | ARLETTIE | FRANCE | Specialized Retail |
| 05/2026 | PAI PARTNERS | MECAER AVIATION GROUP | ITALY | Engines & Systems |
| 10/2025 | PAI PARTNERS | CYRUS | FRANCE | Wealth & Asset Management |
| 10/2025 | PAI PARTNERS / ADIA | FRONERI | UNITED KINGDOM | Food Products |
| 08/2025 | PAI PARTNERS | Innovad Group | BELGIUM | Animal Health |
| 01/2025 | PAI PARTNERS / ADIA | ALVEST | FRANCE | Aerospace, Naval & Defense |
| 03/2024 | PAI PARTNERS | BEAUTYNOVA | ITALY | Hygiene & Beauty Brands |
| 07/2023 | PAI PARTNERS | INFRA GROUP | BELGIUM | IT Services |
| 05/2023 | PAI PARTNERS | LOOPING GROUP | FRANCE | Leisure Facilities |
| 04/2023 | PAI PARTNERS | EUROPEAN PIZZA GROUP (EPG) | GERMANY | Food Products |
REFERENCES
Valuation range: EV €500M–1.5bn
Revenue range: €450–900M
EBITDA range: €50–100M
EV/Revenue range: 1x - 3x
EV/EBITDA range: 5x - 12x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ECF GROUP by PAI PARTNERS 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: ecf group
Acquirer: pai partners