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 LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Business Services sector (10.8x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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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.
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Historical Financials (EUR)
Other operations with GROUPE CAP VERT
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 01/2022 | AMBIENTA | GROUPE CAP VERT | FRANCE | Facility Management | Ambienta has acquired a majority stake (~60%) in Groupe Cap Vert, taking over control from the family office Evolem. This transaction was executed off-market following a pre-emptive approach by Ambienta, interrupting Evolem's ownership after only 18 months |
| 03/2015 | CALCIUM CAPITAL | GROUPE CAP VERT | FRANCE | Facility Management | The acquisition of Cap Vert by Calcium Capital marks a significant milestone in the company's history, as it seeks to accelerate its growth and expansion plans. With the support of its new sponsor, Cap Vert aims to relaunch its geographic deployment across France, both through organic growth and external acquisitions |
REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 100M - 200M EUR
EBITDA range: 25M - 50M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: groupe cap vert
Acquirer: gimv