Exel Industries

What Exel Industries does

Exel Industries is a French family-controlled industrial group that designs, manufactures, and commercializes spraying equipment across three reporting segments: Agroequipements (agricultural sprayers and sugar beet harvesters), Industrie (industrial painting/coating systems and technical hoses), and Loisirs (garden watering and nautical vessels). The group operates as a federation of autonomous subsidiaries operating under legacy brand identities, including Agrifac, Hardi, Berthoud, Tecnoma, Matrot, Nicolas Sprayers, Evrard, Apache Sprayers, Cooper Pegler, CMC, and Capagri in agricultural spraying; Holmer in sugar beet harvesting; Sames in industrial spraying and Tricoflex in technical hoses; Hozelock, GF Garden, and Hozelock-Exel in garden products; and Tofinou, Wauquiez, and RHEA Marine in nautical. Revenue mechanics consist of capital equipment sales through agricultural and nautical dealer networks, direct sales to large farming operations and industrial OEMs, retail/distribution channels for consumer garden products, and an aftermarket parts and services stream tied to the installed base.

The group's R&D is anchored by EXXACT Robotics, a pooled research center created in 2019 to develop autonomous agricultural vehicles and perception systems for vineyards and extensive cultures. Proprietary technologies include the 3S Spot Spray Sensor (computer-vision-based precision spraying reducing phytosanitary product usage by 30-80%), the TRAXX autonomous vineyard robot for mechanical weeding, the Cyclomix Evo industrial painting system (multi-core processor with embedded Linux and Airmix mixing for reduced product consumption and VOC emissions), the HOLMER Terra Dos 5 sugar beet harvester, and the AQUATIME Solar autonomous drip-irrigation system. The group holds approximately 350-390 patent families and 181 trademark families across the portfolio, with marketing channels centered on brand-specific websites, LinkedIn presence, agricultural and industrial trade shows, and dedicated investor relations communications.

The group operates 24 production sites across more than 30 countries with 3,759 employees and generates over 80% of revenue outside France. Listed on Euronext Paris (ticker EXE) and controlled by the Ballu family via a structure that includes double voting rights, EXEL reported FY2024-2025 revenue of €983 million (down 10.6% YoY), recurring EBITDA of €67.6 million (6.9% margin, down from 7.9% prior), net income of €16.3 million (down from €31.2 million), and operating cash flow before tax exceeding €100 million. The customer base spans cereal farmers, winegrowers, sugar beet producers, industrial manufacturers, retail garden consumers, and luxury nautical buyers, with customers in Western Europe, North America, South America, Asia-Pacific, Eastern Europe, the Middle East, and CIS.

Name

Exel Industries

Legal name

EXEL Industries

Website

https://exel-industries.com

Company type

Public

Founded year

1946

Operating status

Operating

Headcount range

51–100 employees

Short description

Exel Industries is a French family-controlled industrial group that designs, manufactures, and sells spraying and coating equipment for agricultural, industrial, garden, and nautical markets through 20+ acquired brands including Agrifac, Hardi, Sames, Hozelock, and Holmer.

Ownership category

akta.pro rank

Product category

Agricultural Spraying Equipment

NAICS

Farm Machinery and Equipment Manufacturing (333111), Agricultural Implement Manufacturing (33311), Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing (333112), Commercial and Service Industry Machinery Manufacturing (33331), Lawn and Garden Equipment and Supplies Retailers (4442), Rubber and Plastics Hoses and Belting Manufacturing (326220)

SIC

Farm Machinery & Equipment (3523), Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851), Lawn & Garden Tractors & Home Lawn & Gardens Equip (3524)

akta.pro primary industry

Crop Protection & Application Equipment (Sprayers/Spreaders) (IMAHACAC)

akta.pro secondary industries

Sprayer Calibration, Testing & Drift-Reduction Technology (Sensors, Shields, Adjuvant Dosing) (AFAAADAI), Spray Control, Rate Controllers & Nozzle Systems (Pumps, Valves, Atomizers) (AFAAADAF), Lawn & Garden Equipment Retail (Mowers, Trimmers, Blowers) (CRAIAIAA)

Keywords

• Agricultural spraying equipment
• Industrial coating equipment
• Sugar beet harvesters
• Garden watering products
• Leisure sailing yachts

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices33 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Agricultural Equipment (Agroequipements): Agricultural spraying equipment and sugar beet harvesters sold to farmers, vineyards, and agricultural operations worldwide through dealer networks and direct sales. Revenue generated from capital equipment sales, spare parts, and related services.
2. Industrial Spraying Equipment: Industrial painting, coating, and adhesive application equipment (Sames brand) sold to manufacturing companies. Includes technical hoses (Tricoflex) for industrial applications. Revenue from equipment sales and consumables.
3. Garden and Leisure Products: Garden watering, protection, and maintenance products (Hozelock, GF Garden brands) as well as nautical products (Tofinou sailboats, Wauquiez yachts, RHEA Marine). Consumer and professional segments served through retail and dealer distribution.
4. Aftermarket Services and Parts: Spare parts, maintenance services, and aftermarket support for all product lines. Provides recurring revenue stream from existing installed base.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Exel Industries designs, manufactures, and sells spraying and application equipment across three segments: agricultural equipment (crop protection sprayers under brands Hardi, Agrifac, Berthoud, Tecnoma, Nicolas Sprayers, Evrard, Matrot, Apache, CMC, Capagri, Cooper Pegler; and sugar beet harvesters under Holmer), industrial equipment (industrial painting/coating/adhesive application machines under Sames and technical hoses under Tricoflex), and leisure products (garden watering and irrigation products under Hozelock and GF Garden, and sailing yachts and motorboats under Tofinou, Wauquiez, and RHEA Marine). Revenue is generated through capital equipment sales, spare parts, aftermarket services, and consumer garden/leisure product sales via a federation of 20+ brands.

Product overview

EXEL Industries is a diversified French industrial group that designs, manufactures, and commercializes agricultural equipment, industrial equipment, and leisure products through a portfolio of 20+ acquired brands. The Group operates across three main segments: Agroequipements (agricultural spraying and sugar beet harvesting via Holmer), Industrie (industrial spraying and technical hoses via Sames and Tricoflex), and Loisirs (garden products via Hozelock and nautical vessels via Tofinou, Wauquiez). Key innovations include EXXACT Robotics for autonomous agricultural vehicles, the 3S Spot Spray Sensor precision spraying technology, and the Cyclomix Evo industrial painting system. The company holds 390 patent families and 181 trademark families, demonstrating significant investment in R&D.

Differentiator

Problem solved

Functional benefit

Brands

• EXXACT Robotics: Pooled research center for agro-equipment companies developing autonomous agricultural vehicles and precision spraying systems including the 3S Spot Spray Sensor technology.
• Holmer
• Tofinou
• Wauquiez
• Tricoflex
• Sames
• Hardi
• Berthoud

Quantifiable outcome

• 3S Spot Spray Sensor reduces doses of phytosanitary products applied by 30 to 80%
• +3 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature7 records

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Nordson Corporation: Global manufacturer of precision dispensing and application equipment including industrial coating systems. Comparable to EXEL's Sames industrial spraying business in customer base (manufacturers requiring coating/painting application) and technology focus.
• Graco Inc. US-based manufacturer of fluid handling equipment including industrial spraying systems for protective coatings, paint, and adhesives. Directly comparable to EXEL's Sames industrial coating and spraying equipment business serving similar OEM and finishing customers.
• Kverneland Group (Kubota): Manufacturer of agricultural implements including sprayers, now owned by Kubota. Competes directly with EXEL's portfolio of crop protection application equipment brands and shares similar dealer-based distribution in European markets.
• Lemken: German family-owned manufacturer of agricultural implements with significant presence in crop protection sprayers. Comparable to EXEL's spraying brands in target customers, technology focus, and European dealer-based go-to-market.
• Amazone: German family-owned manufacturer specializing in agricultural spraying equipment, soil cultivation, and seeding machinery. Direct competitor to EXEL's Hardi, Agrifac, Berthoud, and Tecnoma brands in crop protection application equipment across European markets.

Broad incumbents

• Deere & Company: Largest global agricultural equipment manufacturer offering self-propelled sprayers and precision agriculture solutions through its John Deere Operations Center platform. Competes with EXEL on spraying equipment but at vastly greater scale with integrated digital farming ecosystem.
• Fiskars Group: Finnish consumer goods company with gardening and outdoor products portfolio. Comparable to EXEL's Hozelock consumer garden segment through overlapping retail channels and consumer gardening customer base, though Fiskars operates across broader home and garden categories.
• CNH Industrial: Global capital goods company with major agricultural equipment brands including Case IH and New Holland, offering crop protection sprayers. Comparable to EXEL's agroequipements business but operates at substantially larger scale across multiple equipment categories.
• AGCO Corporation: Global agricultural equipment manufacturer offering tractors, combines, and crop protection application equipment including sprayers. Directly comparable to EXEL's Agroequipements segment through competing brands and overlapping dealer channels, though AGCO operates at significantly larger scale across a broader machinery portfolio.
• Husqvarna Group: Swedish manufacturer of outdoor power products including garden watering solutions through its Gardena brand. Comparable to EXEL's Hozelock and GF Garden consumer garden watering and irrigation products serving similar residential and gardening customers across Europe.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/exel-industries

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries24 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Exel Industries