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This report is accessible on EMAT, the reference database for private company acquisition multiples



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Transaction Multiples for the Valuation of Private Companies

GTT – Gaztransport & Technigaz / Areva H2Gen (now Elogen)

No EMAT : 108274
Announced Date : 19/10/2020
Type : Acquisition of Majority Stake
Deal Value : Yes
Acquirer : GTT – Gaztransport & Technigaz

Target : Areva H2Gen (now Elogen)
Country : France
Sector of activity :
  • Clean Tech > Environment and Climate Change > CleanTech - Renewable Energy
  • Clean Tech > Environment and Climate Change > CleanTech - Power Storage
Business Description :
Founded in 2014, Areve H2Gen is engaged in the design and assembly of electrolysers for the production of green hydrogen . > French leader in proton exchange membrane technology (known as “PEM”)...

Transaction multiples available
Gross Profit
P/E Price
to Book
Rating : **
Multiple available
n.s.   Multiple calculated, but not significant

Source: Epsilon Research / EMAT

Comparable Transactions

  • Number of EMAT Reports / sub-sector « CleanTech - Renewable Energy » = 34
  • Number of EMAT Reports / sub-sector « CleanTech - Power Storage » = 24
Example of comparable transactions on EMAT (same sub-sector):
Date Acquirer Target Country Multiples See details
30/09/2004 NWD Group Plc Clinic Group Ltd United Kingdom ** 10235
01/11/2004 IDEXX Laboratories Inc Vet Med Lab Germany * 10240

Source: Epsilon Research / EMAT

About Epsilon Research

Epsilon Research is an independent research and financial analysis bureau, and the reference source of transaction multiples for the valuation of private companies through its EMAT database.

EMAT Report

► Each EMAT Report includes the detailed analysis of the transaction: deal rationale and structure, target business lines and financials (restated), valuation multiples (calculation and analysis).


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