At what enterprise value was INFRA GROUP acquired in 2023?

During the acquisition of INFRA GROUP by PAI PARTNERS in 2023, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR.

What was the EV/EBITDA of INFRA GROUP when it was acquired by PAI PARTNERS?

The estimated EV/EBITDA multiple for INFRA GROUP is in the range of 10x - 18x.

When was INFRA GROUP acquired by PAI PARTNERS?

INFRA GROUP was acquired by PAI PARTNERS in 2023.

What was the revenue of INFRA GROUP at the time of the deal?

The revenue of INFRA GROUP at the time of the deal is estimated to be in the range of 450M - 900M EUR.

What was the EBITDA of INFRA GROUP during the acquisition?

INFRA GROUP's EBITDA is estimated to be in the range of 100M - 200M EUR.

How is the data for the INFRA GROUP 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 INFRA GROUP 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://capitalfinance.lesechos.fr/deals/lbo/infra-group-boucle-un-5e-buy-out-avec-pai-partners-1960252

What is the average EV/EBITDA multiple for the TMT (Tech, Media, Telecom) sector in 2026?

The average EV/EBITDA multiple for the TMT (Tech, Media, Telecom) sector in 2026 is 15.1x.

← DATABASE

Home Database TMT (Tech, Media, Telecom)INFRA GROUP

07/2023

INFRA GROUP acquired by PAI PARTNERS

BELGIUM IT Services EV 1b - 4b EUR

Context

Infra Group has completed its fifth LBO, with PAI Partners becoming the majority shareholder alongside ICG and Andera Partners. This strategic move aims to accelerate the Belgian group's expansion in the underground and surface infrastructure sector. By leveraging its diversified model, the company plans to pursue its ambitious build-up strategy, particularly in Germany, to benefit from the energy transition.

It is worth noting that the fund Icg took control of Infra Group through an LBO in 2021.

INFRA GROUP, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

A leading multidisciplinary provider of essential infrastructure services. Infra Group specializes in the design, installation, and maintenance of networks for telecommunications (fiber), electricity, water, gas, and district heating. It operates as a one-stop-shop for utility operators and public authorities.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2022

2021

Other operations with INFRA GROUP

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
07/2021	ICG	INFRA GROUP	BELGIUM	IT Services

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of INFRA GROUP by PAI PARTNERS 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.

Acquirer: pai partners