KLEDYS acquired by GROUPE TOP CHRONO

FirstGroup plc has completed the acquisition of 100% of RATP London from RATP Développement. The transaction represents FirstGroup's strategic re-entry into the London bus market at scale, following its exit in 2013. The strategic rationale for the acquisition is to diversify FirstGroup's portfolio and secure a significant foothold in the UK's largest bus market, which accounts for 46% of the national industry. RATP London brings a high-quality fleet (34% electric) and c. 90 TfL contracts with a weighted average remaining life of 3.3 years. FirstGroup intends to maintain the existing senior management team to continue their proven turnaround plan, which has already stabilized the workforce and improved bid discipline. The deal is underpinned by c. £100m in physical assets, including four freehold depots valued at c. £50m. Financially, the acquisition is expected to be earnings-neutral in FY 2025 and FY 2026 due to the utilization of £40–50m in onerous contract provisions. Long-term, FirstGroup expects to grow annual revenues to £300–350m and achieve operating margins of 6–7%, supported by synergies in fuel pricing, insurance, and fleet purchasing.

Engie continues its divestment strategy by selling Cofely ALS to BCR-i Holding. For BCR-i, this is a strategic external growth operation following the acquisition of ESEIS. It integrates a recognized specialist in airport systems maintenance (180 employees) into its portfolio, strengthening its position as a multi-specialist Facility Management player in critical environments.

The Toulouse-based Groupe Jardel continues its national expansion by acquiring Transports Ducamin in Normandy. This acquisition allows Jardel to diversify its activity portfolio by integrating niche expertise in hazardous materials (fuel transport) and to strengthen its geographical footprint in the North-West of France, a region where it previously had less density.

The maritime group La Compagnie du Golfe et de la Navigation (CGN), which owns the iconic brands Les Bateaux Verts and Vedettes Iles d'Or, completes a new LBO ("LBO Bis"). The founder and CEO, Denis Robert, reorganizes the capital structure by bringing in AMDG Private Equity as a strategic partner, alongside Smalt Capital. This operation allows the exit of previous financial backers and provides the group with resources to accelerate its energy transition (hybridization of the fleet) and consolidate its leadership in the Var tourism market.

The Groupe SIFA has completed the acquisition of its competitor Groupe Hesnault. This consolidation brings together two major family-owned players in the French freight forwarding market. The deal allows SIFA to significantly strengthen its network, particularly in the Pacific and Oceania regions where Hesnault had a strong foothold, and to reach a critical size to compete with global giants. The combined entity creates a robust group with expanded "Door to Door" capabilities.

Infranity, a prominent European sustainable infrastructure investor and part of the Generali Group, has finalized the acquisition of a majority stake in TRANSARC. This investment, closed on July 3, 2024, marks a significant move to decarbonize one of France's leading private regional transport operators, as a core pillar of this partnership is the rapid electrification of TRANSARC�s fleet. Immediately following the acquisition, the group announced a strategic collaboration with RETROFLEET to implement an ambitious "retrofit" program.

Groupe CAT, a European giant in automotive logistics, has acquired a majority stake in 2L Logistics. This transaction marks a significant consolidation in the French market. By integrating 2L Logistics, Groupe CAT significantly reinforces its fleet and territorial coverage in France. For 2L Logistics, which had been growing through its own acquisitions (such as Transports Marzat), backing a global industrial player provides the financial stability and network required to sustain its rapid expansion in a capital-intensive sector.

ACEH, the parent company of Transports Cheminal, is continuing its geographical expansion southward by acquiring all the shares of Transports du Vivarais. This transaction allows the Haute-Loire-based group to establish a presence in the Ardeche region, a strategic axis for serving the Rhone Valley, and to increase its fleet by approximately forty vehicles.

The US private equity giant Carlyle Group has acquired the majority of the Locabox network (20 out of 25 centers) from its founding family, the Demonchy Group. This transaction marks Carlyle's entry into the French self-storage market, a sector consolidating rapidly. The operation is structured as a sale of assets/business, while the historical owners retain a minority scope of 5 centers in the South of France.

The Groupe Coquelle completes its third Management Buy-Out (MBO Ter) to reorganize its capital structure. The historical minority shareholder, Siparex, exits (or significantly reduces its stake), allowing the entry of a new pool of regional and national investors led by IRD Invest and Bpifrance.