Jeff Eisenberg on EBITDA multiples in pump rental

Jeff Eisenberg

09 July 2026

Swedish ‘buy and build’ group Vestum has sold its pump and water technology business Flowa to Nordic Capital for SEK6.5 billion (€587 million) — at 17.55x EBITDA. Rental consultant Jeff Eisenberg breaks down the numbers and asks what it means for rental company valuations.

Pump rental is not the glamorous end of the equipment industry. Some of these pumps specifically are designed to handle raw sewage. Not a great conversation starter at the summer BBQ. Until now.

On 9 June 2026, Vestum AB sold its pump and water technology business — renamed Flowa Technology…

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