Eurazeo PME to launch Redspher sale advised by Transaction R

The auction of the transportation business formerly known as Flash Europe, is expected to kick off in the coming weeks, according to two additional sources.

The asset will be marketed off around EUR 20m EBITDA, two of the sources said. It generated just less than EUR 15m in 2021, according to one of the sources and a seventh source familiar, against EUR 10m in 2020, another source added.

Stern, which was acquired by Swedish Hedin Mobility Group last month for EUR 103m, is a good comparable deal, one of the sources said.

Eurazeo, which bought a 43% stake in the business in 2015, reportedly tried to sell the transportation services provider in 2018.

In 2019, Redspher acquired Speed Pack Europe, a Spanish company specializing in emergency transport services.

Redspher has origins dating back to 1981, according to a report. It proposes a range of road and airfreight solutions to clients across multiple industries, including automotive, aeronautics, electronics and agricultural machinery. It operates a fleet of around 40,000 vehicle, delivers to more than 70 countries and has 500 employees, according to its website.

Headquartered in Luxembourg, the business is classified as a French company on Eurazeo's website.

Redspher and Transaction R did not respond to requests for comment. Eurazeo PME declined to comment.

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