RIWAL acquired by BOELS RENTAL
Context
Boels acquired Riwal to create a European powerhouse in the rental market. The merger combines Boels' dense generalist network with Riwal's technical expertise in AWP. The deal extends Boels' footprint to 27 countries and significantly boosts its specialty rental division, particularly in the French and Spanish markets.
RIWAL, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Business Services sector (11.4x).
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Target
A global specialist in powered access (Aerial Work Platforms - AWP). Riwal operates 65 branches and is a key player in the sale, maintenance, and rental of high-altitude equipment, with a strong focus on fleet electrification.
Ent. Value
€300–700M
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
Similar deals in Industrial Services
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 05/2024 | BPIFRANCE / MUBADALA | SOCOTEC | FRANCE | TIC (Testing, Inspection, Certification) |
| 04/2024 | DELMAS INVESTISSEMENTS ET PARTICIPATIONS | ACCES INDUSTRIE | FRANCE | Equipment Rental |
| 03/2024 | UNITED RENTALS | YAK ACCESS | UNITED STATES | Equipment Rental |
| 03/2024 | ANDERA PARTNERS | GROUPE ADF | FRANCE | Multi-technical Installation |
| 03/2024 | ALS | YORK ANALYTICAL LABORATORIES | UNITED STATES | TIC (Testing, Inspection, Certification) |
| 03/2024 | SPIE | ROBUR INDUSTRY SERVICE | GERMANY | Multi-technical Installation |
| 01/2024 | ARDIAN | VULCAIN INGENIERIE | FRANCE | Engineering & Consulting |
| 11/2023 | ASHTEAD TECHNOLOGY | ACE WINCHES | UNITED KINGDOM | Equipment Rental |
| 10/2023 | GCA - GROUPE CHARLES ANDRE | GROUPE AUTAA | FRANCE | Equipment Rental |
| 08/2023 | VINCI ENERGIES | INPROCON | SWEDEN | Multi-technical Installation |
Other operations with BOELS RENTAL
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 01/2020 | BOELS RENTAL | CRAMO | FINLAND | Equipment Rental |
REFERENCES
Valuation range: EV €300–700M
Revenue range: €250–500M
EV/Revenue range: 1x - 3x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of RIWAL by BOELS RENTAL 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.