TowerBrook buys crane rental firm Uperio from LFPI

News portal Capital Finance reported that the transaction values the target at €290m, or 5.7x EBITDA.

The LFPI group had owned Uperio since 2019 alongside its management. The company was formed as a result of the merger of LFPI portfolio companies Matebat in France and Arcomet in Belgium. 

Uperio CEO Philippe Cohet said in a statement that TowerBrook's investment in the company allowed it to aim for expansion internationally, as well as into other sectors. 

The transaction is subject to regulatory approval and is due to complete during the summer.

Company
Uperio was created in May 2019 from the merger of French business Matebat and Belgium-based Arcomet. The company operates a fleet of 2,000 cranes in eight countries and generates a turnover of €200m. It has 570 employees. 

People
Uperio – Philippe Cohet (president).
LFPI Group – Fabien Bismuth (president). 

Advisers
Equity – Messier & Associes (M&A); Ayache Law (legal). 
Vendor – Canaccord Genuity (corporate finance); DC Advisory (corporate finance); Frieh & Associés (legal). 

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