Pirtek Europe acquired by Franchise Brands

UNITED KINGDOM Industrial Services / Other Works / Welding & Piping Services EV £100–350M

Context

The strategic rationale for this transformational acquisition is to significantly expand the Group’s B2B service range and establish a scaled operational platform in Continental Europe. Pirtek provides a high-quality infrastructure of service centers and mobile vans that Franchise Brands intends to use as a launchpad for its existing brands into new European markets. The transaction advances the board's goal of becoming a diversified international franchisor with balanced geographic revenue. To finance the deal, Franchise Brands utilized a combination of a £90 million equity placing, a £55 million term loan, and a £55 million revolving credit facility. The acquisition integrates a business with a 19% 5-year CAGR in underlying profits, providing immediate accretion to group earnings and strengthening its portfolio of mission-critical services.

Pirtek Europe, which reported an EBITDA margin of [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average observed in the Business Services sector (10.0x in 2023).

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Target

Pirtek Europe is a leading provider of mission-critical, emergency on-site hydraulic hose replacement and associated services. Operating through a franchised business model, the company guarantees a one-hour arrival time, 24/7/365, to minimize downtime for industrial and commercial clients. Its value proposition is centered on speed and technical reliability, delivered via a specialized fleet of 838 mobile service vehicles and 213 service centers. Strategically, Pirtek has established a dominant market position across eight European countries, serving diverse sectors including construction, manufacturing, and logistics. The group specializes in "emergency response" maintenance, positioning itself as an essential service partner for infrastructure-heavy industries where equipment failure results in high hourly costs.

Ent. Value

£100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (GBP)

Year

Rev

EBITDA

EBIT

2022

2021

Similar deals in Industrial Services

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Date	Acquirer	Target	Country	Sector
05/2023	TRITON PARTNERS	UNICA	NETHERLANDS	Multi-technical Installation
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03/2023	LOXAM	JIAB HYRCENTER	SWEDEN	Equipment Rental
01/2023	SOLOMAT LOCATION	TERMALOC	FRANCE	Equipment Rental
12/2022	LOXAM	HR ALUGUER	PORTUGAL	Equipment Rental
12/2022	ARCADIS	DPS GROUP	IRELAND	Engineering & Consulting
12/2022	CDPQ - CAISSE DE DEPOT ET PLACEMENT DU QUEBEC	AKIEM	FRANCE	Equipment Rental
12/2022	UNITED RENTALS	AHERN RENTALS	UNITED STATES	Equipment Rental
10/2022	LOXAM	A GERADORA ALUGUEL DE MÁQUINAS	BRAZIL	Industrial Services
09/2022	ELEMENT MATERIALS TECHNOLOGY	NATIONAL TECHNICAL SYSTEMS (NTS)	UNITED STATES	TIC (Testing, Inspection, Certification)

REFERENCES

Valuation range: EV £100–350M

Revenue range: £100–200M

EBITDA range: £5–25M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Pirtek Europe by Franchise Brands 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.

FAQ

What transaction does this page cover?

This page covers Franchise Brands’s acquisition of 100% of Pirtek Europe, a British company specialised in Other Works, in 2023.

How was the acquisition of Pirtek Europe by Franchise Brands valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the £100–350M band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Pirtek Europe’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Pirtek Europe generated annual revenue estimated in the £100–200M range and EBITDA in the £5–25M bracket (FY 2022). Detailed financial figures are available to members.

How does the valuation of Pirtek Europe compare to benchmarks in the Business Services sector?

With an estimated multiple range of 10x - 18x, the transaction stands directly in line with historical averages for the Business Services sector (10.0x in 2023).

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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