SYSTRA
Acquired by
LATOUR CAPITAL
SYSTRA acquired by LATOUR CAPITAL
Target
SYSTRA
Acquirer
LATOUR CAPITAL
Context
Latour and Fimalac acquire 58% of the capital of the urban and rail transport engineering specialist, with a valuation of EUR860 million (at 100%) . RATP and SNCF will retain 40% of the capital.
SYSTRA, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a level LOGIN the 11.1x average currently observed in the Business Services sector.
Note that 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
Global leader in public transport and rail infrastructure engineering.
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)
Other operations with SYSTRA
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 10/2025 | SYSTRA | BG&E | AUSTRALIA | Engineering & Consulting | SYSTRA has announced the 100% acquisition of the Australian engineering firm BG&E. This strategic transaction significantly strengthens SYSTRA’s presence in Australia and New Zealand, where the combined entity will now employ over 1,000 staff. The rationale for the deal is twofold: first, to capture growth in one of the world's most active infrastructure markets; second, to create a new global business unit dedicated to "Complex Buildings". By integrating BG&E’s 800 employees and its international offices in Singapore, the UAE, and the UK, SYSTRA is scaling its multidisciplinary engineering services. This network will now include over 700 specialists worldwide, enabling SYSTRA to compete on a global stage for large-scale building projects beyond its traditional transport-related core. |
| 09/2025 | SYSTRA | ARDANUY INGENIERÍA | SPAIN | Engineering & Consulting | SYSTRA has announced the 100% acquisition of Ardanuy Ingeniería to strengthen its technical capabilities and market presence in Spain, Portugal, and Latin America. This operation follows SYSTRA's successful 2023 integration of Subterra and marks a major step in building a comprehensive engineering hub for the Iberian and Hispanic markets. The strategic rationale for the deal is to create technical synergies in railway systems and infrastructure, while securing a workforce of 350 highly skilled professionals. The combined entity will manage a portfolio of landmark projects, including the metros of Santiago, Bogota, Panama, and Madrid, as well as high-speed rail projects in Portugal and Spain. This alliance positions SYSTRA as the go-to partner for public and private transit authorities seeking to develop high-performance, sustainable transport infrastructures. |
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