Fraikin Partners with Asterion to Enhance Growth and Sustainability Initiatives

On October 13, 2026, Fraikin, a prominent pan-European provider specializing in leasing and fleet solutions for commercial vehicles, made a significant announcement regarding its future. The management disclosed an exclusive agreement with Asterion Industrial Partners, an independent investment firm focused on mid-sized infrastructure companies in Europe. This partnership is set to support Fraikin’s trajectory into the next phase of its growth, especially after undergoing extensive restructuring over the past few years.

Fraikin currently operates with an impressive revenue of approximately €1 billion and manages a fleet valued at around €3 billion. Under the new ownership of Asterion, the company is poised to concentrate on three critical areas: expanding investments in its fleet and European operational platform, transitioning its customer base to more carbon-efficient mobility options, and enhancing the digital management of its fleet services.

Yves Pétin, the President and CEO of the Fraikin Group, stated, "Our goal is to establish Fraikin as the leading European infrastructure platform for managing commercial vehicle fleets. We will continue investing in our fleet, our personnel, and our digital capabilities while accelerating the shift towards a lower-carbon mobility and pursuing sustainable growth opportunities."

He also expressed gratitude towards previous shareholders, including Benefit Street Partners, Värde Partners, and Canyon Partners, for their ongoing support and commitment while welcoming the collaborative effort with Asterion.

Asterion’s Partner, Bice Di Gregorio, remarked on the infrastructural importance of Fraikin within commercial mobility across Europe. She highlighted the unique position that Fraikin holds due to its size, integrated service model, and long-standing customer relationships, which present significant growth opportunities. "We see a meaningful opportunity to support fleet transition towards lower-emission vehicles, matching Asterion’s commitment to energy transition," she said.

Sergio Val, Operating Partner at Asterion, emphasized the company’s 80-year history in the French commercial vehicle sector, affirming that Fraikin represents a pivotal investment for Asterion’s French operations. He added, "By blending our industrial approach with local teams and Fraikin's operational expertise, we intend to enhance investments in its fleet, maintenance network, and digital competencies while improving customer service and driving disciplined growth across all markets."

The transaction is anticipated to conclude in the first quarter of 2027, subject to necessary employee consultation processes and required regulatory approvals. BofA Securities and Lazard served as financial advisors to the major shareholders and management, while Latham & Watkins acted as the legal advisor.

About Fraikin Group

Fraikin Group is a leading provider of full-service operating leasing for commercial vehicles, managing over 50,000 vehicles across ten European countries. The company caters to vital sectors such as healthcare, food distribution, utilities, waste management, logistics, and public services, offering contractual leasing, fleet management, and flexible rental solutions that improve urban living conditions. For more information, visit www.fraikin.com.

About Asterion Industrial Partners

Founded in 2018, Asterion Industrial Partners is an independent investment management company specializing in European mid-sized infrastructure projects. The firm manages assets totaling $10 billion and focuses on crucial infrastructure investments in areas such as energy, digitalization, utilities, and mobility with a hands-on, sector-specific approach emphasizing long-term value and sustainability. For more details, visit www.asterionindustrial.com.