SULO acquired by LATOUR CAPITAL
Context
Sulo, the European leader in waste containers and compactors, has initiated a secondary LBO with its existing shareholder, Latour Capital. After a previously planned divestment to One Rock Capital in early 2024 did not materialize, Latour Capital opted to reinvest in the company via its fourth flagship fund and a dedicated co-investment vehicle involving roughly ten Limited Partners (LPs).
SULO, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 5x–12x.
Target
Headquartered in the Île-de-France region, Sulo is a European leader in the manufacturing and management of waste collection solutions. The company’s business model is centered on the production of a wide range of waste containers, including traditional bins, sorting bins, and advanced waste compactors. Beyond manufacturing, the organization provides essential hardware that facilitates the circular economy, serving both municipal authorities and private waste management operators. Its value proposition lies in the durability and technical integration of its products, which are designed to optimize waste collection logistics and improve urban recycling rates. Founded as a historical industrial player, the company has evolved into a strategic partner for cities seeking to modernize their environmental infrastructure, leveraging a broad distribution network across Europe to maintain its market-leading position.
Ent. Value
€500M–1.5bn
Equity Value
[members only]
Multiples
EV / Revenue
below 1.5x
EV / EBITDA
5x–12x
EV / EBIT
[members only]
Historical Financials (EUR)
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2025 | CAPZA | DI ENVIRONNEMENT | FRANCE | Hazardous Waste |
| 06/2025 | SECHE ENVIRONNEMENT | GROUPE FLAMME | FRANCE | Waste Management |
| 03/2025 | ITELYUM | SPECIALACQUE AND SPECIALSPURGHI | ITALY | Waste Management |
| 02/2025 | IRETI | IREN ACQUA | ITALY | Water |
| 01/2025 | APOLLO GLOBAL MANAGEMENT / BC PARTNERS | GFL Environmental Services Business | CANADA | Hazardous Waste |
| 06/2024 | VEOLIA | ENVIROPACIFIC | AUSTRALIA | Hazardous Waste |
| 06/2024 | SECHE ENVIRONNEMENT | ECO CORPORATE ENVIRONMENTAL ENGINEERING (ECO) | SINGAPORE | Hazardous Waste |
| 11/2023 | PIONEER POINT PARTNERS | ESKEN RENEWABLES | UNITED KINGDOM | Waste-to-Energy |
| 09/2023 | EURAZEO | 2B SERVICES & INNOVATIONS | FRANCE | Waste Management |
| 09/2023 | TPG | A-GAS | UNITED KINGDOM | Hazardous Waste |
Other operations with LATOUR CAPITAL
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2026 | LATOUR CAPITAL | SAVELYS | FRANCE | HVAC (Heating/AC) |
| 06/2026 | LATOUR CAPITAL / BPIFRANCE | CERBAIR | FRANCE | Electronics |
| 05/2025 | LATOUR CAPITAL | ROLLAKIN (BOLLIN / ROLLIN) | FRANCE | Components |
| 03/2025 | LATOUR CAPITAL | LYNXEO | FRANCE | Infrastructures |
| 05/2024 | LATOUR CAPITAL | SYSTRA | FRANCE | Engineering & Consulting |
| 12/2023 | LATOUR CAPITAL | EUROPEAN DIGITAL GROUP (EDG) | FRANCE | Digital Marketing, SEO, SEA, Data Analytics |
| 03/2023 | LATOUR CAPITAL | GUTOR | SWITZERLAND | Electrical Equipment |
| 07/2022 | LATOUR CAPITAL | PHARMACIE LAFAYETTE - GROUPE HYGIE31 | FRANCE | Pharmacy |
| 10/2020 | LATOUR CAPITAL | SANTIANE | FRANCE | Brokerage |
| 09/2018 | LATOUR CAPITAL / BPIFRANCE / BNP PARIBAS DEVELOPPEMENT | SOGETREL | FRANCE | Infrastructures |
REFERENCES
Valuation range: EV €500M–1.5bn
Revenue range: €450–900M
EBITDA range: €50–100M
EV/Revenue range: below 1.5x
EV/EBITDA range: 5x - 12x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SULO by LATOUR CAPITAL 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.
Acquirer: latour capital