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Jardel takes over Mulhouse Courses and GP Express

Transport et Logistique

The Toulouse-based carrier is on a shopping spree in France. It is taking over the entirety of Mulhouse Courses and GP Express. The experts at AURIS Finance, a consultancy specialising in mergers and acquisitions, take you behind the scenes of this latest market move.

The trend in the transport sector is towards consolidation. Jardel, based in Toulouse, is strengthening its position in eastern France by acquiring a specialist in road transport and chauffeur-driven vehicle hire. The two entities, Mulhouse Courses and GP Express, have a total of 75 employees, including 70 drivers, and generate a turnover of €8 million. A small acquisition given the size of Jardel, which has expanded throughout France over the years. Initially specialising in the distribution and chartering of general goods, refrigerated transport and chemical liquids, the Jardel group has diversified into specialised leasing for mass retail, including Action, a popular hard discount chain in France.

2015, a watershed year

Since Dimitri Goineau became head of the company, Jardel has embarked on an aggressive inorganic growth strategy. During this period, Jardel restructured its capital via its first LBO (leveraged buy-out). Jean-Luc Jardel, the company’s founding chairman, retired and sold his shares. Two investors, Bpifrance and Multicroissance (an investment subsidiary of Banque Populaire Occitane), took a stake, pumping a total of €1.6 million into the company. At the same time, Dimitri Goineau – at the helm of the Group since 2004 – became the majority shareholder. Under his leadership, the group stepped up its acquisitions. In the same year, Jardel acquired Commagnac Industries, with 300 employees, a fleet of 280 vehicles, and a turnover of €30 million. A strategic acquisition for the Group’s development, it generated revenues of around €100 million in 2015.

A turnover of €226 million in 2023

Five years later, the Group teamed up with BNP Paribas Développement for a second LBO. In 2020, Jardel acquired Sarrazain Transports, a Toulouse-based operator specialising in towing trailers in France for big names in the courier sector, which also had a small logistics business. The operator had 600 trucks and trailers, and 350 employees, bringing Jardel’s total fleet to almost 1,000 vehicles. With the acquisition of Mulhouse Courses and GP Express, Jardel now has 2,500 employees and a turnover of €226 million. The Group, now present in around fifteen French cities (including Toulouse, Paris, Lille, Bordeaux, Nantes, Rennes, Lyon, Périgueux, etc.), is one of the top twenty players in the French transport sector.

Our experts at your side

Jardel has become one of the leading transport companies in France thanks to an aggressive acquisition strategy. This development has been made possible by the support of financial backers who have raised significant amounts of capital, and the assistance of specialist advisers. AURIS Finance has a dedicated transport and logistics practice. Our experts can assist you in raising funds and in structuring the development of your business.

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#Transport & Logistics Solutions