At what enterprise value was RIWAL acquired in 2024?

During the acquisition of RIWAL by BOELS RENTAL in 2024, the transaction's Enterprise Value is estimated to be in the range of 300M - 700M EUR.

When was RIWAL acquired by BOELS RENTAL?

RIWAL was acquired by BOELS RENTAL in 2024.

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

The revenue of RIWAL at the time of the deal is estimated to be in the range of 250M - 500M EUR.

How is the data for the RIWAL 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 RIWAL 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.riwal.com/en/knowledge/news/boels-rental-acquires-riwal/

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Home Database Business ServicesRIWAL

03/2024

RIWAL acquired by BOELS RENTAL

NETHERLANDS Industrial Services / Equipment Rental EV 300M - 700M EUR

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 in 2023, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Business Services sector (11.6x).

-> Deep-dive in Business Services market trends

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

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2023

2022

Similar deals in Industrial Services

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
05/2024	ADMIRAL ACQUISITION LIMITED	ACUREN CORPORATION	UNITED STATES	TIC (Testing, Inspection, Certification)
04/2024	DELMAS INVESTISSEMENTS ET PARTICIPATIONS	ACCES INDUSTRIE	FRANCE	Equipment Rental
03/2024	ALS	YORK ANALYTICAL LABORATORIES	UNITED STATES	TIC (Testing, Inspection, Certification)
03/2024	SPIE	ROBUR INDUSTRY SERVICE	GERMANY	Multi-technical Installation
03/2024	ANDERA PARTNERS	GROUPE ADF	FRANCE	Multi-technical Installation
01/2024	ARDIAN	VULCAIN INGENIERIE	FRANCE	Engineering & Consulting
10/2023	GCA - GROUPE CHARLES ANDRE	GROUPE AUTAA	FRANCE	Equipment Rental
08/2023	UL SOLUTIONS	CERE (CERTIFICATION ENTITY FOR RENEWABLE ENERGIES)	SPAIN	TIC (Testing, Inspection, Certification)
08/2023	VINCI ENERGIES	INPROCON	SWEDEN	Multi-technical Installation
07/2023	SER CAPITAL PARTNERS	CHARAH SOLUTIONS	UNITED STATES	TIC (Testing, Inspection, Certification)

REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 250M - 500M EUR

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.