mynth
11/2007

TRESCAL acquired by ASTORG

FRANCE Industrial Services / TIC (Testing, Inspection, Certification) EV 10M - 30M EUR

Context

Air Liquide sold the majority of its metrology subsidiary to Astorg Partners and the management team. Air Liquide retained a 15% minority stake to support the transition. The transaction valued the company at an Enterprise Value of just EUR25 million.

TRESCAL, which reported an EBITDA margin of in 2006, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.4x).

-> Deep-dive in Business Services market trends

Target

Trescal is a global specialist in metrology and calibration services. Originally a spin-off from Air Liquide (2007), the company has grown into an international powerhouse under the leadership of CEO Olivier Delrieu. Trescal provides calibration, repair, and maintenance services for test and measurement equipment across diverse sectors including Aerospace, Defense, Pharmaceuticals, Telecoms, and Automotive. Operating a network of over 110 laboratories worldwide, the group serves a client base that requires high-precision certification.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2006
2005

Other operations with TRESCAL

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
11/2017OMERSTRESCALFRANCETIC (Testing, Inspection, Certification)

REFERENCES

Valuation range: EV 10M - 30M EUR

Revenue range: 50M - 100M EUR

EBITDA range: 0M - 5M EUR

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: trescal

Acquirer: astorg