The new group will be jointly led by the current management teams of both companies under the leadership of Tobias Schäfer.
Kiloutou is the second largest player in the industrial and construction equipment rental market in France and the fourth largest in Europe.
The UK technology company’s board of directors has recommended Montagu’s offer.
With six campuses in France, New York and Shanghai, GEDH has 3,000 students and more than 21,000 alumni.
Sanjeev Phakey and Fidel Manolopoulos will join Hermes GPE as senior investment professionals and work out of the firm’s London office.
The resulting company will have 127 centres and combined revenues of around €90m.