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M&A

RIWAL

Acquired by

BOELS RENTAL

NETHERLANDS Industrial Services EV [100m EUR - 500m EUR] 03/2024

Target

RIWAL

Acquirer

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.

The transaction values RIWAL at an EV/Revenue multiple of LOGIN.

This transaction is part of the Business Services industry, which currently tracks an average EBITDA multiple of 11.1x since the beginning of 2026, 0.8% increase compared to 2025. 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

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

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2023
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2022
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Other operations with RIWAL

mynth data is contributed by M&A / PE professionals and systematically cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.