mynth
07/2022MajorityLBO

One Equity Partners takes majority stake in Clayens Group

FRANCE Chemicals & Materials / Material Transformation / Plastics EV €300–700M

Context

The acquisition of a majority stake in Clayens Group by One Equity Partners marks the exit of the previous majority shareholder, Siparex, which alongside existing co-investors and the incumbent management team led by CEO Eric Pisani, will reinvest as minority partners to maintain corporate continuity. Under Siparex’s stewardship since 2019, the group scaled its operations from €273 million to over €350 million in trailing twelve-month revenue, primarily driven by the execution of four strategic add-on acquisitions that expanded its geographic and technological footprint. The transition of ownership to One Equity Partners is timed to capitalize on macro-driven industrial re-shoring trends, as multinational OEMs shift production volumes from China back to European and North American manufacturing hubs amid increasing supply chain constraints. Moving forward, the post-acquisition operational agenda focuses on accelerating Clayens' transition from a regional European champion into a global outsourced manufacturing platform by leveraging One Equity Partners' capital and pipeline in North America to execute cross-Atlantic transformational combinations. The immediate growth strategy prioritizes scaling existing facilities in North America and Eastern Europe, increasing utilization across the 25 operational sites, and pursuing target acquisitions to broaden specialized technical capabilities in high-margin sectors such as medical and aerospace components.

In the past, the company underwent an LBO led by Siparex in 2019, and continued an active consolidation strategy by notably acquiring PSB Industries (2020).

Clayens Group, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, standing directly in line with the average observed in the Industry & Manufacturing sector (11.8x in 2022).

-> Deep-dive in Industry & Manufacturing market trends

Target

Headquartered in Genas, France, Clayens Group is an outsourced contract manufacturer specializing in high-performance polymers, advanced composites, and precision metals. The company operates a manufacturing footprint of 25 facilities across Europe, North Africa, and North America, delivering high-specification components processed through thermoplastic and thermoset injection, metalloplastics, and precision metal machining. Revenue is generated from blue-chip multinational original equipment manufacturers and tier-1 suppliers in the aerospace, automotive, healthcare, electronics, and construction sectors. Client engagements are structured under multi-year procurement agreements tied directly to individual customer product lifecycles, with initial customer acquisition locked in during early-stage collaborative research and development and rigorous technical component qualification phases.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2021
€250–500M
€25–50M
[members only]
2020
€250–500M
€25–50M
[members only]

Other operations with Clayens Group

Other operations with Clayens Group
DateAcquirerTargetCountrySector
09/2020CLAYENS GROUPPSB INDUSTRIES (HEALTHCARE & INDUSTRY)FRANCEPlastics
08/2019SIPAREXCLAYENS GROUPFRANCEPlastics

Other operations with One Equity Partners

Other operations with One Equity Partners
DateAcquirerTargetCountrySector
03/2026ONE EQUITY PARTNERSKITWAVE GROUPUNITED KINGDOMB2B Specialized Distribution
02/2026ONE EQUITY PARTNERSGIOVANNI BOZZETTOITALYSpecialty Chemicals
04/2017ONE EQUITY PARTNERSUSCOITALYComponents

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REFERENCES

Valuation range: EV €300–700M

Revenue range: €250–500M

EBITDA range: €25–50M

EV/Revenue range: below 1.5x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Clayens Group by One Equity 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.

Press release: view release

Target: clayens group

Acquirer: one equity partners

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Clayens Group, a French company specialised in Material Transformation, by One Equity Partners in 2022, structured as a leveraged buyout (LBO). This followed an earlier holding cycle initiated in August 2019, when the company was acquired by Siparex.

How was the acquisition of Clayens Group by One Equity Partners valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What were Clayens Group’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Clayens Group generated annual revenue estimated in the €250–500M range and EBITDA in the €25–50M bracket (FY 2021). Detailed financial figures are available to members.

How does the valuation of Clayens Group compare to benchmarks in the Industry & Manufacturing sector?

With an estimated multiple range of 5x - 12x, the transaction stands directly in line with historical averages for the Industry & Manufacturing sector (11.8x in 2022).

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

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