GROUPE FLAMME acquired by SECHE ENVIRONNEMENT
Context
Seche Environnement has signed a unilateral purchase agreement to acquire the Flamme Group, a family-owned specialist in hazardous waste management. This acquisition strengthens Seche's geographical footprint in Northern France and expands its capabilities in industrial waste incineration and sanitation. By integrating Flamme's expertise, the group consolidates its leading position in the circular economy and hazardous waste treatment markets across Europe.
By taking control of Groupe Flamme, Seche Environnement continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Eco Corporate Environmental Engineering in 2024.
GROUPE FLAMME, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN.
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.
Target
Groupe Flamme is a long-standing family-owned business specializing in the management and treatment of industrial and hazardous waste. The group operates through three main entities: A.R.F. (focused on special and hazardous waste since the early 1980s), Flamme Environnement, and Flamme Assainissement. Its business model covers the entire waste value chain, with a significant emphasis on high-complexity industrial incineration and specialized remediation services. Founded on a legacy dating back to the early 20th century, the company has developed proprietary expertise in neutralizing hazardous materials, making it a critical partner for industrial clients in Northern France. By integrating advanced treatment technologies with a strong regional logistics network, the organization ensures regulatory compliance and environmental safety for mission-critical waste disposal, maintaining high barriers to entry in the specialized environmental services market.
Ent. Value
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (EUR)
Similar deals in Energy & Utilities
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 01/2026 | PAPREC | PIZZORNO ENVIRONNEMENT | FRANCE | Utilities (Regulated Infrastructure) | Paprec Group exercised a call option to acquire an additional 30.64% stake in Pizzorno Environnement from the Pizzorno-Devalle family, increasing its total holding to 50.64%. The transaction was valued at EUR62 |
| 07/2025 | CAPZA | DI ENVIRONNEMENT | FRANCE | Utilities (Regulated Infrastructure) | DI Environnement opened its capital to a financial partner for the first time by welcoming Capza as a minority shareholder (holding a 5% stake). The transaction involved an investment of over €30 million through a mix of equity and non-dilutive rate instruments from the Flex 6 fund |
| 03/2025 | LATOUR CAPITAL | SULO | FRANCE | Utilities (Regulated Infrastructure) | Sulo, the European leader in waste containers and compactors, has initiated a secondary LBO with its existing shareholder, Latour Capital. After a previously planned divestment to One Rock Capital in early 2024 did not materialize, Latour Capital opted to reinvest in the company via its fourth flagship fund and a dedicated co-investment vehicle involving roughly ten Limited Partners (LPs) |
| 03/2025 | ITELYUM | SPECIALACQUE AND SPECIALSPURGHI | ITALY | Utilities (Regulated Infrastructure) | The acquisition of Specialacque and Specialspurghi is strategically aligned with the Itelyum's ongoing M&A program, which focuses on consolidating regional market leaders to strengthen its national service network and technological capabilities in waste treatment |
| 02/2025 | IRETI | IREN ACQUA | ITALY | Utilities (Regulated Infrastructure) | Ireti has successfully completed the acquisition of the remaining 40% interest in Iren Acqua from F2i Sgr, concluding a long-term institutional partnership. The strategic rationale for this 100% consolidation is to fully internalize the management of the Genoa water basin, allowing for the eventual merger of the target into the parent infrastructure division |
| 06/2024 | VEOLIA | ENVIROPACIFIC | AUSTRALIA | Utilities (Regulated Infrastructure) | Veolia has announced the acquisition of Enviropacific from Next Capital, as part of its strategic GreenUp plan to enhance its exposure to environmental security and emerging contaminants, while consolidating its presence in the Australian market |
| 06/2024 | SECHE ENVIRONNEMENT | ECO CORPORATE ENVIRONMENTAL ENGINEERING (ECO) | SINGAPORE | Utilities (Regulated Infrastructure) | Seche Environnement has signed an agreement to acquire Eco Industrial Environmental Engineering, the leading player in Singapore's hazardous waste market. This strategic entry into Southeast Asia allows the French group to support its industrial clients in a high-growth region |
| 09/2023 | TPG | A-GAS | UNITED KINGDOM | Utilities (Regulated Infrastructure) | TPG Rise Climate has agreed to acquire a majority controlling stake in A-Gas from KKR. The transaction represents a doubling down on TPG's thematic focus on the circular economy. The strategic rationale centers on scaling A-Gas's ability to recover and recycle critical gases globally, thereby reducing the carbon footprint of the HVAC and industrial sectors |
| 09/2023 | EURAZEO | 2B SERVICES & INNOVATIONS | FRANCE | Utilities (Regulated Infrastructure) | 2BSI has completed a new LBO to accelerate its growth in material and energy recovery. Specializing in niche markets like concrete and wood waste recycling, the group maintains long-term partnerships with major institutions such as Enedis and SNCF |
| 08/2021 | STIRLING SQUARE CAPITAL / DEUTSCHE BETEILIGUNGS (DBAG) | ITELYUM | ITALY | Utilities (Regulated Infrastructure) | The acquisition of Itelyum by Stirling Capital Partners represents a significant secondary buyout involving the transition of the company from the seller’s third fund to its fourth fund, accompanied by a strategic minority investment from DBAG |
REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 100M - 200M EUR
EBITDA range: 10M - 30M EUR
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GROUPE FLAMME by SECHE ENVIRONNEMENT are reserved for mynth community members. Register for free to unlock full data.
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).
Acquirer: seche environnement