mynth
07/2026

ORIGINE PARTNERS & BPIFRANCE take majority stake in LJ TRUCKS

FRANCE Automotive / Manufacturers (OEM) / Heavy Duty & Special Vehicles REV 5M - 25M EUR

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 in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Industry & Manufacturing sector (11.6x).

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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.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
2024

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REFERENCES

Revenue range: 5M - 25M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of LJ TRUCKS by ORIGINE PARTNERS / BPIFRANCE 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: lj trucks

Acquirer: bpifrance / origine partners