At what enterprise value was HENCO acquired in 2024?

During the acquisition of HENCO by BNP PARIBAS DEVELOPPEMENT / BPIFRANCE in 2024, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 20M - 50M EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Business Services industry currently tracks an average EBITDA multiple of 11.1x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of HENCO when it was acquired by BNP PARIBAS DEVELOPPEMENT / BPIFRANCE?

The exact EV/EBITDA multiple for HENCO is available on mynth capital. For comparison, the Business Services sector currently shows an average EBITDA multiple of 11.1x. Join our community for free to access full valuation data and industry trends.

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

The revenue of HENCO at the time of the deal is estimated to be in the range of 25M - 50M EUR. Register for free to access the full transaction report and exact valuation multiples.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the HENCO 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 HENCO 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://lamartineconseil.com/nos-references/henco-acquiert-le-groupe-g3-et-ouvre-son-capital-a-des-investisseurs-minoritaires/

← DATABASE

Home Database Business ServicesHENCO

11/2024

HENCO

Acquired by

BNP PARIBAS DEVELOPPEMENT & BPIFRANCE

FRANCE Facility Management / Maintenance EV 20M - 50M EUR

HENCO acquired by BNP PARIBAS DEVELOPPEMENT & BPIFRANCE

FRANCE Facility Management / Maintenance EV 20M - 50M EUR

Context

BNP Paribas Développement and Bpifrance entered the capital of Henco to support its transition into a new phase of institutional growth. In this operation, the minority investors provided a combination of equity and quasi-equity to strengthen the group's capital structure and facilitate a major external growth project. The leadership team that took over the company in 2017 remains the majority shareholder, ensuring continuity in management and strategic execution. The primary rationale for this deal was to provide the necessary firepower for Henco to execute a significant buy-and-build strategy, specifically enabling the simultaneous acquisition of a larger competitor to triple the group's overall size (Groupe G3).

HENCO, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Business Services sector (11.1x).

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

Established in 2017 following a management buyout, Henco is a technical service provider specialized in the maintenance and repair of professional kitchen equipment for the collective catering sector. Headquartered in the Île-de-France region, the company operates a business model centered on technical excellence and high-speed intervention for a diverse client base that includes schools, universities, and corporate dining facilities. Its value proposition is built on ensuring the operational continuity of critical kitchen infrastructure through preventive and curative maintenance programs. Henco’s strategy focuses on consolidating a historically fragmented market by providing institutional clients with a professionalized and reliable technical partner. The company emphasizes regulatory compliance and the extension of equipment lifecycles for its clients, positioning itself as a key link in the food-service value chain. By focusing on niche technical skills and local proximity, Henco aims to establish itself as a reference leader in the facility management landscape for high-volume catering environments across the French market.

Ent. Value

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EV / EBITDA

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Historical Financials (EUR)

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2023

2022

Other operations with HENCO

REFERENCES

Valuation range: EV 20M - 50M EUR

Revenue 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 HENCO by BNP PARIBAS DEVELOPPEMENT / BPIFRANCE are reserved for mynth community members. Register for free to unlock full data.

Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: bnp paribas developpement / bpifrance