At what enterprise value was PROXISERVE acquired in 2023?

During the acquisition of PROXISERVE by VAUBAN INFRASTRUCTURE PARTNERS in 2023, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Business Services industry currently tracks an average EBITDA multiple of 11.1x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of PROXISERVE when it was acquired by VAUBAN INFRASTRUCTURE PARTNERS?

The estimated EV/EBITDA multiple for PROXISERVE is in the range of 15x - 25x. For comparison, the Business Services sector currently shows an average EBITDA multiple of 11.1x. Join our community for free to access full valuation data and industry trends.

What was the revenue of PROXISERVE at the time of the deal?

The revenue of PROXISERVE at the time of the deal is estimated to be in the range of 450M - 900M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of PROXISERVE during the acquisition?

PROXISERVE's EBITDA is estimated to be in the range of 50M - 100M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the PROXISERVE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the PROXISERVE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.asterionindustrial.com/vauban-infrastructure-partners-acquires-38-7-in-financiere-groupe-proxiserve-major-player-in-energy-services-in-france-from-asterion-industrial-partners/

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Home Database Business ServicesPROXISERVE

01/2023

PROXISERVE acquired by VAUBAN INFRASTRUCTURE PARTNERS

FRANCE Facility Management / Maintenance / HVAC EV 1b - 4b EUR

Context

Vauban Infrastructure Partners has acquired the remaining 38.7 % stake in Proxiserve, bringing its ownership to 99.7 % and making it the sole reference shareholder. The transaction follows a 2019 co‑control arrangement in which Vauban and Asterion Industrial Partners jointly purchased Proxiserve. Since that initial investment, Proxiserve expanded its smart‑meter inventory and launched electric‑vehicle charging solutions, while maintaining steady growth through the pandemic period. Asterion’s Fund I exit marks the first full divestment from that vehicle. The acquisition aligns with Vauban’s objective to deepen exposure to energy‑service infrastructure that benefits from long‑term regulatory support and recurring revenue streams. By consolidating ownership, Vauban can implement its ESG‑focused asset management framework across the full meter‑reading and EV‑charging portfolio. The deal also enables the fund to leverage its expertise in scaling brownfield assets, targeting cost efficiencies and technology upgrades within Proxiserve’s nationwide network. Post‑transaction, Proxiserve is expected to accelerate deployment of heat‑meter and heat‑pump services, augment its data‑analytics capabilities and broaden the EV‑charging footprint in line with national decarbonisation targets. Vauban plans to coordinate capital allocation with the company’s management to optimise contract renewals, expand service contracts to new residential blocks and integrate advanced IoT solutions. The combined entity should enhance cash‑flow stability, improve margin profiles and reinforce market positioning within the French energy‑services sector.

In the past, the company had already been the subject of several LBOs, notably led by Latour Capital in 2011 and Vauban Infrastructure Partners / Asterion in 2019. This succession of buyouts highlights the strong attractiveness of the company's business model.

PROXISERVE, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Business Services sector (11.1x).

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

Proxiserve is a French provider of technical services for residential and commercial buildings, specializing in heating maintenance, housing equipment services, energy management and water and heat metering solutions. The company supports private individuals, social housing providers, property managers, co-ownership associations and real-estate owners through a nationwide network of technical agencies and field technicians. Its activities are organized around four main business lines: individual and collective heating services, housing maintenance, energy and water consumption metering, and electricity distribution services for large property portfolios. The company provides installation, maintenance, repair and replacement services for heating systems, including boilers, heat pumps, water heaters and related equipment. It also delivers multi-service maintenance solutions covering plumbing, ventilation systems, household equipment and building services. In the metering segment, Proxiserve manages one of the largest installed bases of division meters in France, including water meters and heating cost allocators, enabling landlords and property managers to improve consumption monitoring and cost allocation.

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Other operations with PROXISERVE

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
06/2019	VAUBAN INFRASTRUCTURE PARTNERS / ASTERION	PROXISERVE	FRANCE	Facility Management	Proxiserve has been acquired by the Vauban and Asterion as part of a competitive auction process overseen by Natixis Partners. The target emerged from a series of bids that included infrastructure funds and a strategic industry player. The acquisition follows Proxiserve's separation from Veolia and subsequent ownership restructuring, positioning the company for further capital investment and operational scaling. The consortium views the transaction as a means to deepen exposure to the growing smart‑metering and EV‑charging markets in France and to leverage Proxiserve's established customer relationships across residential and commercial segments
10/2011	LATOUR CAPITAL	PROXISERVE	FRANCE	Facility Management	Proxiserve was acquired by Latour Capital through a leveraged buyout (LBO) announced in October 2011. The transaction formed part of Veolia Environnement's asset disposal program aimed at refocusing its business activities and reducing its debt. The proposed acquisition was presented to employee representative bodies prior to signing and remained subject to customary closing conditions and the required regulatory approvals. For Latour Capital, the acquisition represented an opportunity to invest in a leading provider of residential technical services with a strong nationwide footprint, a diversified customer base, and a significant proportion of recurring revenue generated through maintenance contracts

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PROXISERVE by VAUBAN INFRASTRUCTURE PARTNERS are reserved for mynth community members. Register for free to unlock full data.

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).

Target: proxiserve

Acquirer: vauban infrastructure partners