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10/2025MinorityLBO

Bpifrance & Bred Banque Populaire invest in Erigea Loisirs

FRANCE Hospitality & Leisure / Leisure Facilities EV €10–30M

Context

For the first time since its inception, Érigea Loisirs has opened its capital to institutional minority investors. Bpifrance and BRED Banque Populaire have provided a mix of equity and bond financing. The strategic rationale for the deal is to fund the group's ambitious organic growth plan, which aims to double the company's size by the end of 2026. This expansion includes doubling its surface area to 60,000 sqm through flagship openings in Cergy, Levallois, Gaité 2, and Montmartre. The funding allows Érigea to maintain its pace of high-quality site development while securing long-term partners who share the management’s vision of asset ownership and sustainable leisure development.

Erigea Loisirs, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average observed in the Retail & Consumer sector (12.5x in 2025).

-> Deep-dive in Retail & Consumer market trends

Target

Founded in 2017, Érigea Loisirs is a leading French developer and operator of large-scale indoor multi-leisure and sports complexes. The company’s business model integrates diverse entertainment offerings—including laser games, escape rooms, karting, and arcades—with high-growth sports activities such as padel (Padel World) and climbing (Climb World and Vertical World). Its value proposition centers on "all-in-one" urban entertainment hubs catering to both individual consumers and corporate events. Strategically, Érigea focuses on a high-density regional model in the Paris area, managing over 30,000 sqm across 11 sites.

Ent. Value

€10–30M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
€10–30M
€0–5M
[members only]
2024
€10–30M
€0–5M
[members only]

Other operations with Bpifrance / Bred Banque Populaire

Other operations with Bpifrance / Bred Banque Populaire
DateAcquirerTargetCountrySector
06/2026BPIFRANCE / THREE HILLS / TURENNE CAPITAL / GROUPE VYVDESTIAFRANCEHome Care & Personal Services
12/2025BPIFRANCE / MBDANANOXPLOREFRANCEChips & Processors
11/2025BPIFRANCE / BNP PARIBAS DEVELOPPEMENTSACREDFRANCEPlastics
05/2024BPIFRANCE / MUBADALASOCOTECFRANCETIC (Testing, Inspection, Certification)
03/2022BPIFRANCE / EURAZEODOCTOLIBFRANCEHealthcare

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REFERENCES

Valuation range: EV €10–30M

Revenue range: €10–30M

EBITDA range: €0–5M

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 Erigea Loisirs by Bpifrance / Bred Banque Populaire 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.

Acquirer: bred banque populaire / bpifrance

FAQ

What transaction does this page cover?

This page covers the acquisition of a minority stake in Erigea Loisirs, a French company specialised in Leisure Facilities, by Bpifrance and Bred Banque Populaire in 2025, structured as a leveraged buyout (LBO).

How was the acquisition of Erigea Loisirs by Bpifrance valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €10–30M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

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

At the time of the transaction, Erigea Loisirs generated annual revenue estimated in the €10–30M range and EBITDA in the €0–5M bracket (FY 2025). Detailed financial figures are available to members.

How does the valuation of Erigea Loisirs compare to benchmarks in the Retail & Consumer sector?

The estimated multiple of 5x - 12x sits below the sector median of 12.5x recorded in 2025, indicating an attractive entry multiple for Bpifrance or reflecting specific complexities. The descriptive comparison is based on 15 transactions with available EV/EBITDA multiples from differences in size, growth, profitability that may affect comparability.

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

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