Background

  • With 2,500 employees located in over 130 local service centers across France, Osis is a leading multi-specialist in wastewater services operating through complementary business segments, including sanitation and liquid waste collection, industrial cleaning, and facility hygiene
  • With over a century of experience, Osis has developed recognized expertise and specialized equipment to address its diversified portfolio of customers - from corporates, to local authorities and private individuals
  • In 2019, Osis generated approximately €311 m of revenue and approximately €23 m of adjusted pro forma EBITDA

Process

  • DC Advisory (DC) was appointed by Suez in February 2020 to sell its subsidiary, Osis, and run a competitive auction process involving both strategics and private equity firms

Outcome

  • Suez completed the disposal of Osis to Veolia for an enterprise value of €298 m, representing a multiple of c.13 times 2019 adjusted pro forma EBITDA, plus a price supplement of €5 m
  • The transaction was completed after consultation of employee representative bodies and following approval by the competition authorities delivered on 28 April 2021
  • The operation illustrates DC’s expertise in conducting large corporate carve-out processes and further strengthens its Business & Tech-Enabled Services franchise