GIMV takes majority stake in GROUPE CAP VERT
Context
Cap Vert has completed its fifth leveraged buyout (LBO) with the entry of Gimv as the new majority shareholder, replacing Ambienta, alongside President Eric Girot, the management team, and employees who are reinvesting in the transaction. The sale process, led by Amala Partners, generated significant market interest, with multiple indicative offers and a second round that included only private equity funds. This transaction aims to support a new phase of development focused on accelerating organic growth, strengthening the group's technical expertise, and pursuing an active external growth strategy. Over the past few years, Cap Vert has completed eighteen acquisitions, expanding its service offerings, strengthening its territorial presence, and structuring its activities around several specialized business units. The group now plans to continue consolidating the still-fragmented French market while initiating its development in several neighboring European countries. Prior to the transaction, Cap Vert announced that it had refinanced its debt through a unitranche facility provided by Hayfin, aimed at facilitating the change in ownership. The transaction was advised by Amala Partners and Latham & Watkins on the seller's side, and by Rothschild & Co and Paul Hastings on the buyer's side.
In the past, the company had already been the subject of several LBOs, notably led by Calcium Capital in 2015 and Ambienta in 2022. These multiple LBO cycles illustrate the strong appeal for this type of asset.
GROUPE CAP VERT, which reported an EBITDA margin of in 2025, 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).
-> Deep-dive in Business Services market trends
Target
Cap Vert is a French group specializing in the management of tree and vegetation assets, as well as technical services related to green spaces and infrastructure. The company's offering is built around several complementary business lines, including urban and peri-urban tree pruning, vegetation management near critical infrastructure such as rail, electrical, and highway networks, ecological engineering, landscape design and maintenance, and irrigation and fountain systems. Cap Vert supports a client base comprising local authorities, infrastructure managers, and private companies through recurring contracts focused on the management, maintenance, and preservation of vegetated areas. With a network of numerous agencies covering the French territory, the group can intervene locally while mobilizing specialized expertise at a national level. Cap Vert's business model is based on a multi-specialist organization that combines niche technical expertise with a strategy of integrating regional companies. The group also develops innovative environmental management solutions, such as digital mapping of tree assets, radar-based root inspection, and the use of drones for certain technical interventions.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with GROUPE CAP VERT
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 01/2022 | AMBIENTA | GROUPE CAP VERT | FRANCE | Landscaping |
| 03/2015 | CALCIUM CAPITAL | GROUPE CAP VERT | FRANCE | Landscaping |
REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 100M - 200M EUR
EBITDA range: 25M - 50M EUR
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GROUPE CAP VERT by GIMV 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.
Press release: view release
Target: groupe cap vert
Acquirer: gimv