Sale of Cargo to Jean Lain Mobilités Group
Largillière Finance assists vehicle rental company CarGo in its merger with Jean Lain Mobilités
Largillière Finance advised the de Saint Leger family, shareholders in CarGo, a company specialized in short and medium-term rental, in its merger with Jean Lain Mobilités, France’s 19th largest automotive distribution group. With this merger, the Jean Lain Group is extending its activities, up until now carried out by Jean Lain Rent in Auvergne Rhône-Alpes, to a national level.
Established for over 35 years in the heart of Savoie, through its headquarters based in Chambéry, and a partner of Jean Lain Mobilités for over two decades, CarGo is now the 7th largest national player in short and medium-term rental.
With sales of €50 million, the company employs around 100 people in 12 of its own agencies, which will reinforce the 9 Jean Lain Rent agencies, and a network of 450 agents throughout mainland France and the French overseas departments and territories. All CarGo sites have over 11,000 vehicles available for short and medium-term rental.
Founded in 1966 in Aix-les-Bains, Jean Lain Mobilités is a family-run business that supplies nearly twenty car brands through more than 85 sales outlets in 9 départements: Ain, Ardèche, Drôme, Haute-Savoie, Isère, Rhône, Savoie, Alpes-de-Haute-Provence and Hautes-Alpes. The group employs 2,300 people and generates sales of over €1 billion.
CarGo becomes the exclusive short and medium-term rental brand of the Jean Lain Mobilités group.
This acquisition represents a strategic opportunity for the group, allowing it to accelerate its development in the rental sector by 10 years, by capitalizing on CarGo’s know-how and expertise. CarGo will be able to offer complementary and differentiating services to short and medium-term car rental, such as car subscription.
For its part, CarGo will benefit from Jean Lain Mobilités’ expertise and support in a number of cross-functional areas, including purchasing, human resources, digital marketing and business development.
Through CarGo, the group aims to expand its rental offering, including two-wheelers, licence-free vehicles, motorhomes and a wide range of electric vehicles. Among its various urban mobility services, Sowatt Solutions, the group’s partner and supplier of charging stations and charging cards, will benefit from significant development leverage to accelerate the electrification of fleets.
2024
Largillière Finance Experts
- Florian Leginy
- Maximilien Foix
Counterpart
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As an independent specialist in mid-cap transactions, Largillière Finance advises executives and shareholders on their capital transactions, including disposals, acquisitions, LBOs, financing solutions (equity and/or debt), financial engineering (valuation, etc.) and financial strategy advisory.
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