Sagard Private Equity signed today an agreement with PAI Partners to sell it control of Kiloutou, on the basis of an enterprise value of € 535m. The final assignment remains subject to the agreement of the competition authorities. Sagard, like the historical shareholders, Mr. F. Mulliez and the company’s employees, will reinvest with the PAI.
Since 2005, under the impulse of its shareholders, Kiloutou had received a clear objective: to accelerate its development. The steady reinvestment of cash flows in new rental equipment and new branches has borne fruit: in five years, Kiloutou has grown from 157 to 283 branches, turnover increased from € 188m to € 292m and EBITDA from € 43m to € 76m. This remarkable performance, over a time horizon marked by an unprecedented economic crisis, makes Kiloutou the most dynamic equipment rental company in Europe.
The significant reinvestment of existing shareholders in the new operation demonstrates their strong confidence in Kiloutou’s continued strong growth: the rental sector is indeed very buoyant, as this solution regularly takes market shares in the purchase of equipment; the positioning of Kiloutou is solid as a French leader in the rental of small equipment; many growth drivers remain to be exploited: continued opening of branches, development of new distribution channels and services, acquisitions and international development.
I am delighted to be able to continue the development of this beautiful company, in a dynamic LBO very positive, which has just demonstrated that strong value creation could rhyme with development and sharing, nearly 450 employees participated in the operation. I am pleased to begin a new phase of our development with our new majority shareholder, PAI, while continuing our history with our current shareholders.“
Xavier du Boÿs, Chairman of the Management Board of Kiloutou
Kiloutou’s unique corporate culture (propelled by Franky Mulliez over the last 30 years) and the impressive dynamism of the teams count so much for the success of this first operation. Sagard is delighted to be associated with this growth project.”
Antoine Ernoult-Dairaine, Partner of Sagard
With management and all shareholders, we have the ambition to bring Kiloutou into a new phase of its development, notably by accelerating its external growth and launching its international business; PAI is pleased to be able to support this new development project.“
Nicolas Holzman, Partner of PAI
As the 4th largest European rental company and a major player in the rental of equipment in France, the Kiloutou Group provides products and services solutions to a very diversified clientele: large national accounts, construction companies, craftsmen, communities and administrations, industries, services, SMEs. The Kiloutou group offers the widest range of the market with about 1,000 references and more than 250,000 materials in various fields: personnel elevation equipment, earthmoving and construction, structural and finishing work, commercial vehicles, and event. With a turnover of 606 million euros in 2017 and a workforce of 4,500 people in Europe, Kiloutou continues its development and now represents a network of 440 agencies in France, including fifty at specialized building and thirty said proximity, located in the city center. The network also has 30 branches in Poland, 19 in Spain, 3 in Germany and 10 in Italy.
Kiloutou Press Contacts
CLC Communications - Tel.: +33 (0)1 42 93 04 04
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