mynth
02/2021

GBA GROUP acquired by ARDIAN

GERMANY Industrial Services / TIC (Testing, Inspection, Certification) EV 500M - 1.5b EUR

Context

Ardian has announced the acquisition of a majority stake in GBA Group, partnering with the existing management team and Quadriga Capital. This transaction follows a period of significant growth under the previous ownership, during which the target successfully institutionalized its platform and expanded its geographic reach through targeted acquisitions. The strategic rationale for the new partnership is to further accelerate the target,s international buy,and,build strategy, leveraging the acquirer,s extensive network in the TIC sector. The investment will focus on enhancing the company's core business, expanding into new high,growth markets, and maintaining a commitment to operational excellence. By combining the target,s scientific expertise with the acquirer,s financial strength and global reach, the group aims to solidify its competitive position as a leading bioanalytical service provider in Europe, focusing on the highly resilient food and pharmaceutical end markets.

GBA GROUP, which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.4x).

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Target

GBA Group is a prominent independent provider of bioanalytical laboratory services operating primarily across the DACH region, with a growing presence in Belgium and Poland. The company’s business model is centered on high,stakes testing and analysis for the food, beverage, pharmaceutical, and environmental sectors. By providing a comprehensive and differentiated portfolio of scientific tests, GBA helps its clients ensure product safety and regulatory compliance in highly resilient and non,cyclical markets. The firm operates through an institutionalized platform comprising a vast network of laboratories and specialized sites, supported by a large team of scientific professionals. Its value proposition is defined by leading edge innovation and a high level of customer loyalty, positioning the group as a critical technical partner for safety and quality assurance in essential consumer and healthcare supply chains.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2021
2020

Other operations with GBA GROUP

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
07/2026BRIDGEPOINTGBA GROUPGERMANYTIC (Testing, Inspection, Certification)

REFERENCES

Valuation range: EV 500M - 1.5b EUR

EBITDA range: 50M - 100M EUR

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: gba group

Acquirer: ardian