ERMEWA has been 100% owned by DWS GROUP and CDPQ - CAISSE DE DEPOT ET PLACEMENT DU QUEBEC since April 2021.

At what enterprise value was ERMEWA acquired in 2021?

During the acquisition of ERMEWA by DWS GROUP / CDPQ - CAISSE DE DEPOT ET PLACEMENT DU QUEBEC in 2021, the transaction's Enterprise Value is estimated to be in the range of 3b - 100b EUR.

What was the EV/EBITDA of ERMEWA when it was acquired by DWS GROUP / CDPQ - CAISSE DE DEPOT ET PLACEMENT DU QUEBEC?

The estimated EV/EBITDA multiple for ERMEWA is in the range of 10x - 18x.

What was the revenue of ERMEWA at the time of the deal?

The revenue of ERMEWA at the time of the deal is estimated to be in the range of 250M - 500M EUR.

What was the EBITDA of ERMEWA during the acquisition?

ERMEWA's EBITDA is estimated to be in the range of 250M - 500M EUR.

How is the data for the ERMEWA acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ERMEWA deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.cfnewsinfra.net/L-actualite/LBO/LBO-Primaire/Ermewa-ne-sera-plus-tricolore-436369

What is the average EV/EBITDA multiple for the Business Services sector in 2026?

The average EV/EBITDA multiple for the Business Services sector in 2026 is 11.4x.

← DATABASE

Home Database Business ServicesERMEWA

04/2021

ERMEWA acquired by DWS GROUP / CDPQ - CAISSE DE DEPOT ET PLACEMENT DU QUEBEC

FRANCE Industrial Services / Equipment Rental EV 3b - 100b EUR

Context

SNCF sold its 100% stake in Ermewa to a consortium composed of CDPQ and DWS. This major infrastructure transaction allows the group to reduce the its debt.

ERMEWA, which reported an EBITDA margin of in 2020, is valued in this transaction at an EV/EBITDA multiple of , representing a level the average currently observed in the Business Services sector (11.4x).

-> Deep-dive in Business Services market trends

Target

A European leader in Corporate railcar leasing and tank container rentals. Ermewa manages a fleet of over 40,000 railcars and 60,000 tank containers, serving the chemical, petroleum, gas, and construction industries.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2020

2019

Similar deals in Industrial Services

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
06/2021	TOWERBROOK	UPERIO	FRANCE	Equipment Rental
05/2021	INTERTEK	SAI GLOBAL ASSURANCE	AUSTRALIA	TIC (Testing, Inspection, Certification)
04/2021	QCAPITAL	VENPA	ITALY	Equipment Rental
02/2021	ARDIAN	GBA GROUP	GERMANY	TIC (Testing, Inspection, Certification)
02/2021	CLAYTON, DUBILIER & RICE (CD&R)	WOLSELEY UK	UNITED KINGDOM	Industrial & Technical Distribution
02/2021	NORD COFFRAGE	RENTMAT BTP	FRANCE	Equipment Rental
02/2021	APAX PARTNERS / BPIFRANCE	BTP CONSULTANTS	FRANCE	TIC (Testing, Inspection, Certification)
01/2021	KILOUTOU	SALMAT	FRANCE	Equipment Rental
01/2021	SOCIETE GENERALE CAPITAL PARTENAIRES	DELTA SERVICE LOCATION	FRANCE	Equipment Rental
12/2020	SGS	SYNLAB ANALYTICS	GERMANY	TIC (Testing, Inspection, Certification)

REFERENCES

Valuation range: EV 3b - 100b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 250M - 500M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ERMEWA by DWS GROUP / CDPQ - CAISSE DE DEPOT ET PLACEMENT DU QUEBEC 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: ermewa

Acquirer: cdpq - caisse de depot et placement du quebec / dws group