ORIGINE PARTNERS & BPIFRANCE take majority stake in LJ TRUCKS
Context
Origine Partners, alongside Bpifrance, completed a management buy-in (MBI) of LJ Trucks to support the company's ownership transition to a new management team led by Laurent Ducoin and Umberto Najar. The transaction marks the company's first opening of its share capital to financial investors, while the founders remain shareholders to ensure a smooth ownership and management transition. The acquisition was financed through a combination of equity and senior debt provided by a banking syndicate led by CIC, with LCL and Caisse d'Épargne participating in the financing. The investment is intended to support the company's next phase of development through organisational strengthening, accelerated commercial expansion in France and across Europe, the formalisation of its ESG strategy, and the execution of targeted buy-and-build opportunities. The transaction reflects Origine Partners' strategy of supporting the succession and long-term development of French industrial SMEs by partnering with experienced management teams. It also represents another investment by Origine PME I, in line with the fund's focus on backing businesses with strong growth potential.
LJ TRUCKS, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Industry & Manufacturing sector (11.6x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
LJ Trucks, founded in 2010 in Avignon, France, designs, manufactures and services hydrocureurs—specialised vehicles for cleaning and unclogging sewer networks. The product portfolio includes a range of hydraulic cutter‑excavator units, high‑pressure jetting machines and integrated maintenance kits, all engineered for durability in municipal and public‑works environments. Customers comprise utility operators, municipal sanitation departments and contractors engaged in infrastructure projects across France and neighboring European markets. The company follows an integrated business model that combines in‑house engineering, a dedicated assembly line capable of producing roughly one hundred units per year, and a post‑sale service network that provides routine maintenance, spare‑part logistics and on‑site technical assistance. LJ Trucks employs twenty‑seven staff members, including engineers, production technicians and field service personnel, and operates a single manufacturing facility adjacent to its headquarters. In 2025 the firm reported revenue exceeding twelve million euros, reflecting a client base that values the bespoke engineering and rapid deployment capabilities of its equipment. The firm’s operational focus remains on incremental product development, compliance with European environmental standards, and expanding its service contracts beyond the domestic market.
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Historical Financials (EUR)
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REFERENCES
Revenue range: 5M - 25M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: lj trucks
Acquirer: bpifrance / origine partners