Fraikin announces exclusive agreement with Asterion Industrial Partners to support its next phase of growth

PARIS, Oct. 12, 2026 /PRNewswire/ -- The management of Fraikin, a leading pan-European provider of commercial vehicle leasing and fleet solutions platform, today announced that affiliates of its ultimate majority shareholders, Benefit Street Partners, Värde Partners and Canyon Partners, have entered into an exclusive agreement with Asterion Industrial Partners ("Asterion"), an independent investment management firm focused on mid-market infrastructure in Europe, relating to the contemplated acquisition of Fraikin.

The transaction follows a multi-year transformation of Fraikin, which today generates approximately €1 billion in revenue and operates a fleet with a gross book value of c. €3 billion, with significant improvements in financial performance and resilience across its European markets.

Under Asterion's ownership, Fraikin will pursue three priorities: continued investment in its fleet and European operating platform, the transition of its customers towards lower-carbon mobility, and the digitalisation of its fleet management offering.

Yves Pétin, President and Chief Executive Officer of Fraikin Group, said:

"Our ambition is to establish Fraikin as the leading European commercial vehicle fleet management infrastructure platform. We will continue to invest in our fleet, people and digital capabilities, while accelerating the transition towards lower-carbon mobility and pursuing sustainable growth opportunities."

"We thank Benefit Street Partners, Värde Partners and Canyon Partners, together with our other shareholders, for their continued support and commitment, and look forward to partnering with Asterion."

Bice Di Gregorio, Partner at Asterion Industrial Partners, said:

"Fraikin provides essential infrastructure for commercial mobility across Europe. Its scale, integrated service model and longstanding customer relationships create a strong platform for growth. We see a significant opportunity to support the transition of its fleet towards lower-emission vehicles, in line with Asterion's commitment to the energy transition, and we look forward to partnering with Fraikin's management team."

Sergio Val, Operating Partner at Asterion Industrial Partners, said:

"Fraikin has served France's commercial vehicle sector for more than 80 years and is a key investment for our French franchise. By combining our industrial approach and local teams with Fraikin's operational expertise, we will support investment in its fleet, maintenance network and digital capabilities, strengthen customer service and pursue disciplined growth across its markets."

The contemplated transaction is expected to close in the first quarter of 2027, subject to the completion of the applicable employee information and consultation processes and obtaining the necessary regulatory approvals. BofA Securities and Lazard acted as financial advisers to the majority shareholders and management, and Latham & Watkins acted as their legal counsel, in connection with the transaction.

About Fraikin Group

Fraikin is a leading European provider of full-service operating leases for commercial vehicles, managing more than 50,000 vehicles across ten European countries. The Group provides contract hire, fleet management and flexible rental solutions to customers in essential sectors including healthcare, food distribution, utilities, waste management, logistics and public services, contributing to better urban living. www.fraikin.com

About Asterion Industrial Partners

Asterion Industrial Partners is an independent investment management firm focused on European infrastructure in the mid-market. Founded in 2018 and with $10 billion under management, the firm invests in essential infrastructure across the energy, digital, utilities and mobility sectors, with a hands-on, industrial approach that prioritizes long-term value creation and sustainability. Asterion Industrial Infra Fund III, which closed in September 2025, reached total commitments of €3.4 billion. For more information, please visit www.asterionindustrial.com

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