mynth
09/2024

TEXELIS acquired by OUEST CROISSANCE & BPIFRANCE

FRANCE Automotive / Manufacturers (OEM) / Heavy Duty & Special Vehicles EV 100M - 350M EUR

Context

The management team of Texelis organized a new MBO to reinforce their majority stake and bring in new long-term partners. This transaction replaces the previous structure set up in 2018. A consortium of six investors backed the deal: Ouest Croissance and Bpifrance's Definvest entered as new leads, while historical partners Siparex and Carvest reinvested. The goal is to support the company's growth plan to reach EUR200 million in revenue by 2028, driven by major defense contracts (Scorpion program) and innovation in electric mobility for transport. The deal is financed by a senior debt package arranged by BNP Paribas and Arkea, representing a leverage of approximately 3x EBITDA.

TEXELIS, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Industry & Manufacturing sector (11.6x).

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

Based in Limoges, Texelis is a leading designer and manufacturer of high-performance mobility systems for heavy vehicles. The company operates two distinct business units: Defense (mobility solutions for armored vehicles like the "Serval" 4x4 for the French Army) and Transport (axles, bogies, and transmissions for metros, trams, and buses). Spun off from Renault Trucks in 2009, Texelis employs around 350 people and operates a 35,000 sqm Corporate site. In 2023, the group generated EUR112 million in revenue with an EBITDA of approximately EUR12 million.

Ent. Value

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Multiples

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Historical Financials (EUR)

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REFERENCES

Valuation range: EV 100M - 350M EUR

Revenue range: 100M - 200M EUR

EBITDA range: 5M - 25M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of TEXELIS by OUEST CROISSANCE / BPIFRANCE are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: ouest croissance / bpifrance