mynth
← DATABASE
03/2026

MOULINOT acquired by MEANINGS CAPITAL PARTNERS

FRANCE Utilities (Regulated Infrastructure) / Waste Management / Collection & Recycling EV 20M - 50M EUR

Context

Meanings Capital Partners, through its infrastructure vehicle, has acquired a controlling stake of over 75% in Moulinot. The valuation includes approximately €20 million in debt, reflecting the capital-intensive nature of the company’s industrial expansion. The transaction facilitates a complete exit for most historical impact investors, while Abeille Impact Investing remains a minority shareholder alongside the existing management team. As part of a multi-stage development plan, Meanings intends to deploy a total investment envelope of roughly €50 million to ramp up production at existing sites and fund the rollout of new facilities, with the Lyon region identified as the next strategic target for expansion.

MOULINOT, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of .

Target

Founded in 2013, Moulinot is a specialized environmental service provider dedicated to the collection and ecological treatment of food waste (bio-waste) from collective catering, households, and the agri-food industry. The company operates an industrial network that includes two historic sites in the Paris region alongside newer facilities in Angers and Bordeaux, processing approximately 50,000 tons of waste annually. The firm positioning itself as a key infrastructure player in the circular economy by transforming organic waste into high-quality compost or biogas feedstock.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
2024

Similar deals in Utilities (Regulated Infrastructure)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
05/2026DERICHEBOURGSCHOLZ RECYCLINGGERMANYCollection & Recycling
05/2026APOLLO GLOBAL MANAGEMENTNOBLE ENVIRONMENTALUNITED STATESCollection & Recycling
03/2026PAPRECCONVERTINIITALYCollection & Recycling
03/2026HERA GROUPSOSTELIA GROUPITALYWater
02/2026BLACKSTONE / EQT PARTNERSURBASERSPAINWaste Management
01/2026PAPRECPIZZORNO ENVIRONNEMENTFRANCECollection & Recycling
07/2025CAPZADI ENVIRONNEMENTFRANCEHazardous Waste
06/2025SECHE ENVIRONNEMENTGROUPE FLAMMEFRANCEWaste Management
03/2025LATOUR CAPITALSULOFRANCECollection & Recycling
03/2025ITELYUMSPECIALACQUE AND SPECIALSPURGHIITALYWaste Management

REFERENCES

Valuation range: EV 20M - 50M EUR

Revenue 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 MOULINOT by MEANINGS CAPITAL 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: meanings capital partners