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THE REEFER GROUP (TRG)

Acquired by

ARKEA CAPITAL / IDIA CAPITAL INVESTISSEMENT / EPOPEE GESTION

FRANCE Automotive REV [100m EUR - 500m EUR] 11/2025

Target

THE REEFER GROUP (TRG)

Acquirer

ARKEA CAPITAL / IDIA CAPITAL INVESTISSEMENT / EPOPEE GESTION

Context

Arkea Capital, the Credit Agricole Group, and Epopee Gestion acquired a combined majority stake (over 50%) in The Reefer Group from Amundi PEF. A pool of eleven other minority financial investors retains approximately 30% of the capital. The transaction also includes a significant reinvestment by the management team which now includes 63 managers holding around 19% of the shares. The deal was supported by a senior debt package with a leverage between 3.0x and 3.5x EBITDA. The strategic rationale is to double the group's size within the next five years, primarily through an aggressive international external growth strategy, building on the recent acquisition of Paneltex and the group's leadership in the customized refrigerated transport market.

This transaction is part of the Industry & Manufacturing industry, which currently tracks an average EBITDA multiple of 10.2x since the beginning of 2026, 2.1% increase compared to 2025. 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

The Reefer Group is a European leader in the manufacturing of refrigerated trucks and trailers. It operates through three main subsidiaries: Chereau and Aubineau Constructeur in France, and Sor Iberica in Spain. The group specializes in high-quality, customized refrigerated solutions for the transport industry. Recently, the group expanded its footprint by acquiring the British competitor Paneltex. With approximately 1,200 employees and a strong focus on decarbonization and fleet innovation, the group serves a growing market driven by specialized logistics and regulatory shifts toward sustainable transport solutions.

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)

Year
Rev
EBITDA
EBIT
2025
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2024
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Other operations with THE REEFER GROUP (TRG)

mynth data is contributed by M&A / PE professionals and systematically cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.