mynth
06/2026MinorityLBO

EMZ Partners, Bpifrance & Amundi Private Equity invest in Nexteam

FRANCE Aerospace, Naval & Defense / Aerostructures EV €500M–1.5bn

Context

Nexteam completed a shareholder reorganization following a competitive process led by Crédit Agricole CIB and Indosuez Corporate Advisory. As part of the transaction, a consortium comprising EMZ Partners, Bpifrance and Amundi Private Equity Funds acquired a minority stake in the company to support its next phase of growth. The new investors succeed Tikehau Capital, which had been a minority shareholder since 2018, while management, led by Ludovic Asquini and Christophe Maury, increased its ownership and retained control of the business through the backing of the long-standing “Friends of Nexteam” shareholder group. The process attracted significant interest from both financial sponsors and strategic investors, including parties considering potential consolidation opportunities within the aerospace supply chain. Following the auction, Nexteam selected a partnership structure allowing management to preserve its independence while securing additional resources to execute its long-term growth strategy. The selection of EMZ, a specialist in flexible capital solutions, reflected management’s preference for investors capable of supporting future expansion while maintaining the company’s existing governance framework. The transaction marks a new stage in Nexteam’s development, providing additional support for organic growth initiatives, international expansion and future acquisition opportunities.

Nexteam, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average currently observed in the Industry & Manufacturing sector (11.7x in 2026).

-> Deep-dive in Industry & Manufacturing market trends

Target

Nexteam is a specialized industrial group manufacturing critical components and sub-assemblies for the aerospace, defense and space industries. The company focuses on the production of highly engineered and complex mechanical parts used in strategic civil and military programs. Built through the integration of several specialized industrial businesses, Nexteam has developed strong expertise across three core manufacturing processes: precision machining, foundry operations, and sheet metal fabrication. This multi-technology platform enables the group to supply mission-critical components meeting stringent quality, safety and performance requirements. Nexteam (Tier-1 / Tier-2 supplier) serves leading global aerospace and defense OEMs, including Airbus, Safran and ArianeGroup.

Ent. Value

€500M–1.5bn

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
€250–500M
€50–100M
[members only]
2024
€250–500M
€50–100M
[members only]

Other operations with Nexteam

Other operations with Nexteam
DateAcquirerTargetCountrySector
02/2026NEXTEAMUCELIAFRANCEAerostructures
05/2018TIKEHAU CAPITALNEXTEAMFRANCEAerostructures

Other operations with EMZ Partners / Bpifrance / Amundi Private Equity

Other operations with EMZ Partners / Bpifrance / Amundi Private Equity
DateAcquirerTargetCountrySector
01/2026EMZ PARTNERSSNIC TECHNOLOGIESFRANCERailways
07/2024EMZ PARTNERSFAUCHEFRANCEMaintenance
11/2023EMZ PARTNERSYURI & NEILFRANCEDigital Marketing, SEO, SEA, Data Analytics
12/2018EMZ PARTNERSVIGNAL GROUPFRANCEAuto Parts & Systems
06/2018EMZ PARTNERS / BNP PARIBAS DEVELOPPEMENT / IDIA CAPITAL INVESTISSEMENTDIAMFRANCEMarketing & Events

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REFERENCES

Valuation range: EV €500M–1.5bn

Revenue range: €250–500M

EBITDA range: €50–100M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Nexteam by EMZ Partners / Bpifrance / Amundi Private 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: nexteam

Acquirer: amundi private equity / emz partners / bpifrance

FAQ

What transaction does this page cover?

This page covers the acquisition of a minority stake in Nexteam, a French company specialised in Aerostructures, by EMZ Partners, Bpifrance and Amundi Private Equity in 2026, structured as a leveraged buyout (LBO). This followed an earlier holding cycle initiated in May 2018, when the company was acquired by Tikehau Capital.

How was the acquisition of Nexteam by EMZ Partners valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €500M–1.5bn band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Nexteam’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Nexteam generated annual revenue estimated in the €250–500M range and EBITDA in the €50–100M bracket (FY 2025). Detailed financial figures are available to members.

How does the valuation of Nexteam compare to benchmarks in the Industry & Manufacturing sector?

With an estimated multiple range of 10x - 18x, the transaction stands directly in line with historical averages for the Industry & Manufacturing sector (11.7x in 2026).

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

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