SAF AEROGROUP acquired by INFRACAPITAL

Clareton, a refrigerated transport specialist in Occitanie, structures its first LBO ("OBO/LBO") to finance a strategic external growth operation. The group brings in Re-Sources Capital as a minority financial partner, with 3mEUR equity investment.

Logtrans Services, a key player in container transport logistics in Southern France, completes its first LBO (Primary LBO). The founder invites the private equity firm MBO+ to take a majority stake in the capital. This partnership aims to structure the group and provide the financial firepower needed to accelerate external growth. The ambition is to consolidate the fragmented market of container road transport and expand the group's footprint beyond the Mediterranean region.

Transarc acquired 100% of Place Mobilite, marking a significant strategic step in its national expansion. The transaction was driven by the retirement of the historic owner-manager, ensuring the continuity of the family business founded in 1957. This deal exemplifies the ongoing consolidation in the French passenger transport sector.

Channelfret International has finalized a Management Buy-Out (MBO) designed to structure the smooth leadership succession of its founder. This shareholder transition allows the company's key executive team to assume operational control and acquire a majority equity stake, ensuring strict corporate continuity. Specializing in international freight forwarding and cross-border logistics management, the entity leverages this leveraged buyout framework to preserve its operational model and safeguard its deeply entrenched B2B customer relationships. The long-term growth thesis underlying this MBO centers on consolidating its core freight corridors, accelerating the digital transformation of its chartering workflows, and rolling out new value-added supply chain solutions to drive scalable growth.

MSC acquired a 97.5% controlling stake in Clasquin through a public tender offer (OPA). The transaction includes the 42% stake held by founder Yves Revol and shares held by employees. By exceeding the 90% ownership threshold, MSC has initiated the squeeze-out process to delist Clasquin from the Paris stock exchange. The company will be integrated into MSC's service-engineering branch, Shipping Agencies Services (SAS), based in Luxembourg.

Safestore Holdings PLC and Nuveen Real Estate have established an evenly split joint venture to acquire 100% of Easybox. This strategic partnership marks the formal entry for both entities into the Italian self-storage sector, which is currently identified as one of the most under-penetrated markets in Western Europe. The transaction includes ten income-producing facilities with strong trading track records and two specialized turn-key development projects located in Milan, which are scheduled for delivery in the first half of 2025. Safestore’s initial equity contribution was funded via a dedicated loan facility, with the management anticipating the investment to be earnings-accretive by 2027 as the development sites reach operational maturity. The joint venture intends to institutionalize the Easybox platform by integrating it into Safestore’s broader European network, focusing on leveraging data-driven pricing and management expertise to achieve a projected 10% stabilized return. This move significantly diversifies Safestore’s geographic footprint, adding Italy to its existing operations in the UK, France, Spain, and the Benelux region.

FirstGroup plc has completed the acquisition of 100% of RATP London from RATP Développement. The transaction represents FirstGroup's strategic re-entry into the London bus market at scale, following its exit in 2013. The strategic rationale for the acquisition is to diversify FirstGroup's portfolio and secure a significant foothold in the UK's largest bus market, which accounts for 46% of the national industry. RATP London brings a high-quality fleet (34% electric) and c. 90 TfL contracts with a weighted average remaining life of 3.3 years. FirstGroup intends to maintain the existing senior management team to continue their proven turnaround plan, which has already stabilized the workforce and improved bid discipline. The deal is underpinned by c. £100m in physical assets, including four freehold depots valued at c. £50m. Financially, the acquisition is expected to be earnings-neutral in FY 2025 and FY 2026 due to the utilization of £40–50m in onerous contract provisions. Long-term, FirstGroup expects to grow annual revenues to £300–350m and achieve operating margins of 6–7%, supported by synergies in fuel pricing, insurance, and fleet purchasing.

Engie continues its divestment strategy by selling Cofely ALS to BCR-i Holding. For BCR-i, this is a strategic external growth operation following the acquisition of ESEIS. It integrates a recognized specialist in airport systems maintenance (180 employees) into its portfolio, strengthening its position as a multi-specialist Facility Management player in critical environments.

Top Chrono, which specializes in last-mile delivery in the Ile-de-France region, has just acquired Kledys. This acquisition will enable Top Chrono to strengthen its healthcare division.

The Toulouse-based Groupe Jardel continues its national expansion by acquiring Transports Ducamin in Normandy. This acquisition allows Jardel to diversify its activity portfolio by integrating niche expertise in hazardous materials (fuel transport) and to strengthen its geographical footprint in the North-West of France, a region where it previously had less density.