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09/2020

UTAC CERAM acquired by EURAZEO & FCDE (FONDS DE CONSOLIDATION ET DE DEVELOPPEMENT DES ENTREPRISES)

FRANCE Industrial Services / TIC (Testing, Inspection, Certification) REV 50M - 100M EUR

Context

Eurazeo PME acquired a majority stake in Utac Ceram from FCDE in a secondary LBO transaction. The deal involved an equity investment of EUR80 million from the lead acquirer, while the historical shareholder, FCDE, reinvested alongside the CCFA to maintain minority interests. The transaction was supported by a unitranche debt facility provided by an international private debt specialist. The investment strategy is designed to decouple the target's governance from historical industrial ties and fuel a new phase of international expansion. Specifically, the partnership aims to fund the acquisition of complementary technical skills and competitors outside of France, capitalizing on the rapid growth of electric, hybrid, and autonomous vehicle technologies.

UTAC CERAM, which reported an EBITDA margin of in 2019, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Business Services sector (11.3x).

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Target

Utac Ceram is a french specialist in vehicle homologation and testing provides technical services for the global automotive and transport industries. The group is a leader in institutional and regulatory testing, offering expertise in autonomous and connected vehicle trials. It operates multiple technical centers in France and is expanding its footprint to include hot-weather testing facilities in Morocco. As a trusted partner for safety and environmental certification, the company supports manufacturers through the entire vehicle development cycle. Since its transition to private equity ownership, the group has pursued an active international growth strategy to build a scaled European platform for automotive validation.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2019
2018

Other operations with UTAC CERAM

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
12/2020UTAC CERAMMILLBROOKUNITED KINGDOMTIC (Testing, Inspection, Certification)

REFERENCES

Revenue range: 50M - 100M EUR

EBITDA range: 10M - 30M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of UTAC CERAM by EURAZEO / FCDE (FONDS DE CONSOLIDATION ET DE DEVELOPPEMENT DES ENTREPRISES) are reserved for mynth community members. Register for free to unlock full data.

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

Acquirer: fcde (fonds de consolidation et de developpement des entreprises) / eurazeo