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TRIGO

Acquired by

MONTYON CAPITAL

FRANCE Industrial Services REV [500m EUR - 1b EUR] 04/2026

Target

TRIGO

Acquirer

MONTYON CAPITAL

Context

Deal Description: Montyon Capital has finalized the acquisition of a majority stake in Trigo from Ardian, a maneuver designed to fundamentally accelerate the group’s transformation into a multi-sector leader in industrial quality assurance. The strategic rationale for this transaction centers on a "sectoral-diversification" play, merging the target's industry-leading technical operational depth in automotive quality control with a definitive push into the high-growth aerospace and defense verticals. This structural alignment provides the organization with the institutional capital and strategic flexibility required to pursue an innovation-led expansion roadmap. The operation focuses on the industrialization of AI-powered inspection tools, utilizing the target's extensive global database to automate diagnostic workflows and enhance the resolution of complex engineering challenges. By incorporating the sponsor's strategic discipline, the group is now positioned to leverage its international footprint to address the increasing demand for secure, high-performance manufacturing standards.

This transaction is part of the Business Services industry, which currently tracks an average EBITDA multiple of 11.3x since the beginning of 2026, a stable level 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

Founded in 1997, Trigo is a global leader in quality management services for the manufacturing sector, particularly in the transportation industry. The company provides operational quality solutions, including inspection, auditing, and consulting services for major international manufacturers in the automotive, aerospace, and rail sectors.

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)

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2025
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2024
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Other operations with TRIGO

DateAcquirerTargetCountrySectorDeal Context
04/2016ARDIANTRIGOFRANCETIC (Testing, Inspection, Certification)

Ardian entered into exclusive negotiations with IK Investment Partners to acquire a majority stake in Trigo Group. The transaction was structured as a partnership with the existing management team, which remained in place to drive the next phase of development. The deal aimed to support Trigo's international growth strategy and its consolidation of the global quality services market through strategic acquisitions across Europe, Asia, and the Americas. The investment provided the group with the long-term resources required to expand its service offering and strengthen its leadership in the aerospace and automotive verticals.

07/2011IK PARTNERSTRIGOFRANCETIC (Testing, Inspection, Certification)

IK Investment Partners has finalized the acquisition of a 70% stake in Trigo from AtriA Capital Partenaires, a maneuver designed to fundamentally accelerate the group’s transformation into a multi-sector global champion of industrial quality services. The strategic rationale for this transaction centers on a "market-densification" play, merging the target's industry-leading technical operational depth in Western and Central Europe with the group’s extensive international commercial infrastructure. This structural alignment provides the organization with the institutional capital and strategic expertise required to pursue a definitive expansion into high-growth emerging markets, specifically targeting the BRIC nations.

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