Placed in receivership in January 2024, Transports Jardel is being taken over by TransLomagne, a subsidiary of the Verbus group. Here is an explanation and analysis by the experts at AURIS Finance, a consultancy specialising in mergers and acquisitions.
SAS Transports Jardel, a specialist in passenger transport, has found a buyer. On 24 March, the Montauban Commercial Court approved a plan to sell the company to TransLomagne, a subsidiary of the Verbus group (an Aveyron-based group with operations in Occitanie and Nouvelle-Aquitaine).
Poor management
Transports Jardel, based in Montauban, has encountered significant financial challenges, resulting in its placement under receivership. The group, which specialises in passenger transport (tourist coaches and school buses), suffered major setbacks. Two articles in the local press reported on the poor management of the company. La Dépêche du Midi revealed that the company’s buses were unsanitary and dangerous, and that there were irregularities in drivers’ pay slips. It is noteworthy that prior to its sale at the commercial court, Transports Jardel was a member of the Jardel network, a thriving transport group that has recently completed several acquisitions (Mulhouse Courses and GP Express, Sarrazain Transports and Vianord). However, Transports Jardel has no financial links with the group of the same name, which had a turnover of €235 million in 2024.
A local presence
The takeover is associated with a redundancy programme that could result in the loss of 17 jobs, as reported in the Toulouse daily. Translomagne, a subsidiary of Verbus Group, has been appointed as the buyer by the commercial court. The group is a major player in regional passenger transport. With a workforce of 750 and a fleet of 600 vehicles across 14 sites in the Occitanie and Nouvelle-Aquitaine regions, Translomagne is a significant force in the regional transport market. TSL-Translomagne has been operating in the Tarn-et-Garonne region for 25 years, and generates a turnover of €2.5 million.
A trend towards consolidation
In France, the key players in the passenger transport sector are Transdev, Keolis and RATP. These public and semi-public companies operate nationwide. In 2024, they experienced significant growth, reflecting a post-pandemic recovery and an increase in mobility. In addition to these major players, a significant number of small and medium-sized family businesses operate primarily within regional markets. The sector is currently experiencing a trend towards consolidation. During 2024, a number of mergers and acquisitions have enabled local players to strengthen their market position. For instance, in April 2024, Fast group was acquired by Voyages Goujeau, thereby consolidating its presence in the Charente, Charente-Maritime and Deux-Sèvres regions. These strategic moves are indicative of a broader industry-wide expansion and diversification of services.
Our experts at your service
Acquiring companies in receivership represents a strategic opportunity for passenger transport specialists seeking to expand their fleet or break into new markets. This type of operation enables the buyer to benefit from existing assets and an established customer base, while helping to preserve local employment. However, such acquisitions are complex and necessitate the support of specialist advisers. AURIS Finance’s sector specialisation ensures a comprehensive and informed approach. Our transport sector specialists will be at your side throughout your acquisition.
