When was L'ORANGE BLEUE acquired by AXIO CAPITAL?

L'ORANGE BLEUE was acquired by AXIO CAPITAL in 2026.

What was the revenue of L'ORANGE BLEUE at the time of the deal?

The revenue of L'ORANGE BLEUE at the time of the deal is estimated to be in the range of €100–200M.

How is the data for the L'ORANGE BLEUE 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 L'ORANGE BLEUE 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://www.cfnews.net/L-actualite/LBO/Operations/MBO/L-Orange-Bleue-gaine-son-capital-555132

What is the average EV/EBITDA multiple for the Retail & Consumer sector in 2026?

The average EV/EBITDA multiple for the Retail & Consumer sector in 2026 is 11.9x.

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Home Database Retail & ConsumerL'ORANGE BLEUE

01/2026

L'ORANGE BLEUE acquired by AXIO CAPITAL

FRANCE Hospitality & Leisure / Leisure Facilities REV €100–200M

Context

L’Orange Bleue has completed a management transition as CEO Jose Nercellas becomes President, supported by historical investor Axio Capital and founder Thierry Marquer. The fitness network, which operates 400 clubs, secured new bank debt and mezzanine financing to fund its next growth cycle. The strategy focuses on expanding the network to 500 clubs across France, Spain, and Portugal while leveraging improved profitability following a structural reorganization.

L'ORANGE BLEUE, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Retail & Consumer sector (11.9x).

-> Deep-dive in Retail & Consumer market trends

Target

A leading French fitness club network operating mainly through brand licensing (90% of the network). L Orange Bleue offers affordable gym memberships with a focus on personalized coaching and diverse group classes (Yako).

Ent. Value

€100–200M

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2025

2024

Similar deals in Hospitality & Leisure

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12/2025	B & CAPITAL	GROUPE PARTIR-VISITEURS (GPV)	FRANCE	Tour Operators
12/2025	YADAV ENTERPRISES	DEL TACO HOLDINGS	UNITED STATES	Restaurants / Chains
10/2025	BPIFRANCE / BRED BANQUE POPULAIRE	ERIGEA LOISIRS	FRANCE	Leisure Facilities
10/2025	RACETRAC	POTBELLY CORPORATION	UNITED STATES	Restaurants / Chains
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REFERENCES

Revenue range: €100–200M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of L'ORANGE BLEUE by AXIO CAPITAL 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.

Target: l'orange bleue

Acquirer: axio capital