Mecadaq Group acquires TOP US Hard Metal Machining Company Hirschler Manufacturing INC.

Activa Capital

Mecadaq Group, a leading provider of high precision manufacturing for the aerospace industry, has announced the acquisition of Hirschler Manufacturing Inc., a US based company specialised in hard metal machining. The acquisition is another step in Mecadaq’s consolidation strategy , reinforcing the subcontracting chain in the aerospace supply.

Based near Seattle, Washington, USA, with €9m in turnover, Hirschler Manufacturing Inc. produces high-precision mechanical parts made from hard metals such as titanium, stainless steel, and inconel. The company has been a strategic supplier for more than 50 years to large clients in aerospace such as Spirit AeroSystems, Mitsubishi Heavy Industries, or Boeing, which has given the company the “supplier silver award“.

By joining the Mecadaq Group, Hirschler Manufacturing brings its customer portfolio, a recognised know-how in producing critical, complex parts, and quality of service. The company is committed to integrating Mecadaq’s production activities located in California.

This is the third external growth operation in less than 24 months for the Mecadaq Group, bringing its consolidated revenue to nearly €60m and staff to 300 employees.“It is quite an accomplishment for our company with the opportunity to accelerate our growth in North America and also to work directly with “The Boeing Company” as a Tier 1 supplier of detail parts,” said Julien Dubecq, President of Mecadaq Group. “This marks also a major step for Mecadaq, celebrating 10 years anniversary since the first US branch opening.”

“This transaction will allow our Group to reach in just two and a half years the level of turnover we had expected in fiveyears,” added Benjamin Moreau, Partner of Activa Capital. “ In addition to this lead over our original business plan, this external growth transaction reinforces Mecadaq’s leadership position by giving us the potential for new organic growth outside of France.”

 

Deal Participants

Buyers

Mecadaq Group: Julien Dubecq

Activa Capital: Benjamin Moreau, Christophe Parier, David Quatrepoint

Fiscal and Financial Due Diligence: PWC (Andrew Miller, Lisa Jackson)

Legal Due Diligence: Drinker, Biddle & Reath (Luc Attlan, Rémy Nshimiyimana)

Environmental Due Diligence:  ERM (Gary Walters)

Corporate Lawyers USA: Drinker, Biddle & Reath (Luc Attlan,

Rémy Nshimiyimana)

Corporate Lawyers France: Hoche (Grine Lahreche, Christophe Bornes)

Financial Advice: DC Advisory (Alexis Baron)

Strategic Advice: Aero Invest Consulting (Alinh Hoang)

Financing Bank: Société Générale (Marie-Laure de la Grandière)

 

Sellers

Hirschler Manufacturing: Gerald Hirschler

Financial Advisors: First Hill Partners (Michael Black)

Lawyers: Stokes Law (William Neal)

 

About Mecadaq Group

Mecadaq is an industrial group specialised in the manufacturing and assembling of high-precision mechanical parts for the world’s leading aerospace companies. With turnover of nearly €60m, Mecadaq has 300 employees in 7 sites: 4 sites in France (Tarnos, Pessac, Marignier and Chanteloup-les -Vignes, 2 sites in the US(California and Washington), 1 site in Tunisia(Tunis).

Learn more about Mecadaq at mecadaq.com or on Twitter @MecadaqGroup.

About Activa Capital

Activa Capital is a leading French mid-market private equity firm. Activa Capital manages over €500m of private equity funds on behalf of a wide range of institutional investors. Activa Capital partners with ambitious mid-sized French companies, valued at €20m to €200m, seeking to accelerate their growth and their international footprint.

Learn more about Activa Capital at activacapital.com or on Twitter@activacapital.

Activa Capital Media Contacts

Steele & Holt

Media Contacts

Benjamin Moreau

Partner

Daphné Claude

+33 1 43 12 50 12

+33 6 66 58 81 92

benjamin.moreau@activacapital.com

daphne@steeleandholt.com

Christelle Piatto

Communications Manager

Claire Guermond

+33 1 43 12 50 12

+33 6 31 92 22 82

christelle.piatto@activacapital.com

claire@steeleandholt.com

 

 

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Bridgepoint sells Leeds Bradford Airport

Bridgepoint

AMP Capital, on behalf of investors in its global infrastructure equity platform, has agreed to acquire 100 per cent of Leeds Bradford Airport from Bridgepoint Advisers Limited. Leeds Bradford Airport is an international airport serving the cities of Leeds, Bradford and the broader Yorkshire area, with four million annual passengers.

Leeds Bradford Airport is a compelling investment for AMP Capital due to its excellent location and strong growth prospects as well as AMP Capital’s expertise and successful track-record of investing in airports globally within its infrastructure portfolio for more than 20 years.

A mix of low-cost, charter and major international airlines operate at the airport, which benefits from a catchment area containing 5.3 million people, 2.9 million of whom live less than one hour from the airport.   Leeds and Bradford are the third and seventh largest cities in the UK, respectively, and the Leeds City Region is home to the UK’s largest financial and business services centre outside London.  The airport primarily offers international short-haul flights to customers as well as an established network of domestic destinations.

Simon Ellis, Head of Origination, Europe at AMP Capital, said: “With its strong underlying fundamentals including freehold ownership with well-invested infrastructure, a diversified airline mix and its catchment area in an economic hub of the North of England, Leeds Bradford Airport is a highly attractive investment and a great fit for AMP Capital’s global infrastructure platform, which includes the Global Infrastructure Fund.

“We believe there is a clear opportunity for performance enhancement through tailoring and improving the customer experience and working collaboratively with our key partners including airlines, government and local businesses.  In addition, the airport serves the Yorkshire and the Humber region, one of the fastest-growing regions in the UK with a population growth of 6 per cent since 2001 and there is also potential for further route development.

“AMP Capital’s heritage in transportation infrastructure investment and our experience of owning airports means we are well placed to develop the exciting opportunities presented by this investment.”

Michael Davy, Partner at Bridgepoint, said: “Over the past five years of Bridgepoint ownership, passenger numbers have grown by almost 40 per cent to over four million, c. £30 million has been invested in capex projects including a terminal upgrade, employee numbers have grown from 200 to around 460, and EBITDA has grown by over 25 per cent per annum.”

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CDPQ and Ardian enter into exclusive negotiations to acquire a significant equity interest in Alvest

Ardian

Paris – September 6th 2017 – Caisse de dépôt et placement du Québec, a leading institutional Canadian investor, and Ardian, the independent private investment company, have entered into exclusive negotiations with Sagard and Alvest’s Management team to acquire a significant stake in Alvest, the global leader in the production and distribution of airport Ground Support Equipment.

Sagard as well as the Management team led by Jean-Marie Fulconis, the CEO of the group, are to re-invest a significant amount in the company.

Alvest is a company dedicated to the design, manufacturing and distribution of technical products for the aviation industry. This includes aviation ground support equipment, spare parts and services, and technical adhesives and markings for the aerospace and industrial markets.

Alvest has more than 1,800 employees, a global proprietary sales and after-sales network, and operates 10 factories in the United States, Canada, France and China which together serve customers in over 130 countries.

Jean-Marie Fulconis, CEO of Alvest said: “Our team is proud and very pleased that long term investors of the calibre of CDPQ and Ardian are considering to partner with us, and that Sagard will continue to support us in our development. This vote of confidence continues to support our development ambitions, which remain focused around the quality of our products and services as well as the satisfaction of our customers.”

Stéphane Etroy, Executive Vice-President and Head of Private Equity, CDPQ, said: “Alvest’s management has been very successful in developing the company into a global leader in its sector. We are delighted with the idea of joining forces with Jean-Marie Fulconis and his team to support the company as it continues to expand its products and client base to new markets.”

Dominique Gaillard, Member of the Executive Committee of Ardian added: “We have known Alvest and its Management team for many years, having been shareholders from 2006 to 2013. We are very excited about the idea of supporting Alvest with our Ardian Co-Investment team in this new phase of its development and thank Jean-Marie Fulconis and his team for their trust.”

Frédéric Stolar, Founding Partner at Sagard said: “The journey of Alvest has been remarkable. The group has continued to consolidate its global leadership in the sector of airport ground support equipment by leveraging its innovative product portfolio and high quality aftermarket services. We have decided to keep a significant stake in Alvest since we are keen on continuing supporting this talented Management team which we feel close to.”

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2017, it held $286.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

ABOUT ARDIAN

Ardian, founded in 1996 and led by Dominique Senequier, is a premium independent private investment company with assets of US$62 billion managed or advised in Europe, North America and Asia. The company keeps entrepreneurship at its heart and delivers investment performance to its global investors while fueling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship. Ardian’s employees form the largest shareholder group. Over 80 percent of employees have invested in the company, which is a testament to their trust in the Management and the corporate strategy.

Ardian maintains a truly global network, with more than 470 employees working through twelve offices in Beijing, Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, New York, Paris, San Francisco, Singapore and Zurich. The company offers its 580 investors a diversified choice of funds covering the full range of asset classes, including Ardian Funds of Funds (primary, early secondary and secondary), Ardian Private Debt, Ardian North America Direct Buyout, Direct Funds (Ardian Mid Cap Buyout, Ardian Expansion, Ardian Growth, Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and customized mandate solutions with Ardian Mandates.

ABOUT SAGARD

Sagard is a French private equity fund supporting the development of mid-sized companies led by ambitious Management teams. Created in 2003 by the Desmarais family (Power Corporation of Canada), Sagard’s investor base comprises leading industrial families, and it has €2.5 billion in total assets under Management. Since 2004, Sagard and its Paris-based team of 10 professionals have invested in 30 industrial or services companies in France, Belgium and Switzerland.

The Sagard team involved on this transaction includes Frédéric Stolar, Rik Battey, Bérangère Barbe and Jérôme Triebel.

PRESS CONTACTS

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ACTIVA CAPITAL portfolio company MECADAQ announces the acquisitions of ARMOA

Activa Capital

Activa Capital, an independent French private equity firm, and Mecadaq, a leading provider of high precision manufacturing for the aerospace industry, announce the acquisition of Armoa, a company specialised in high precision machining. The acquisition takes place 18 months after the creation by Activa Capital of a consolidation platform in aerospace subcontracting.

This is the second significant build-up for Mecadaq, which already generates revenues of €32 million in aeronautic subcontracting, primarily in the area of machining of aero structure parts for civil aircraft. Financed with bank debt and additional capital provided by Activa Capital and Mecadaq’s management, the acquisition will increase the group’s revenues to over €50 million. Based outside Paris, in Chanteloup -les-Vignes, with revenues of €18 million, Armoa is a family-owned business that for 40 years has specialised in providing high precision machining of small and medium size aluminium aero structure parts.

The company’s excellence in this area has made it the manufacturer of choice for top clients in the aeronautics sector, such as Stelia (Airbus), Daher, and Thalès. “We are delighted to bring on board the operational excellence of the Armoa team,” said Julien Dubecq, President of Mecadaq.

“In addition to being complementary on industrial grounds, this acquisition reinforces our organisation by Business Unit (milling, turning, gear and spline machining, assembly).

Since our clients are constantly searching for ways to optimise their supply chain, this new industrial organisation will allow us to develop our commercial relationships with large clients in the aeronautic sector.” “This operation, the second step in our consolidation program undertaken in early 2016, will bring Mecadaq to the symbolic level of €50 million in revenues.

With four specialised sites in France and two abroad, Mecadaq has the critical size that will make it possible to reinforce its position among large partners and lients in aeronautics,” added Benjamin Moreau, Partner, Activa Capital.

Mecadaq Group is currently holding discussions with several other Players in aeronautics subcontracting. The priority is to target further acquisitions both in France and overseas, which could be financed with new acquisition lines put in place this summer.

 

About Mecadaq Group

Mecadaq is specialisedin the production and assembly of precision-made mechanical parts for the world’s leading aeronautical manufacturers. Prior to this build-up, Mecadaq had turnover of nearly €30 million, employs 300 professionals spread across its four sites: three sites in France (Tarnos, Pessac and Marignier) and one site in the US (California). To find out more about the company, please visit the website at Mecadaq.com or on Twitter@MecadaqGroup.

About Activa Capital

Activa Capital is a leading French mid-market private equity firm. Activa Capital manages over €500m of assets on behalf of a wide range of institutional investors. Activa Capital partners with ambitious mid-sized French companies, valued at €30m to €200m, seeking to accelerate their growth and their international footprint. Learn more about Activa Capital at activacapital.comor on Twitter @activacapital

 

 

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PAI Partners to exit ADB Safegate, a global airport solutions provider

Global alternative asset manager, The Carlyle Group (NASDAQ:CG) today announced it has entered into a definitive agreement to acquire ADB SAFEGATE, a global airport performance solutions provider, from PAI Partners, alongside existing management of the company.

Paris, France – Zaventem, Belgium – Global alternative asset manager, The Carlyle Group (NASDAQ:CG) today announced it has entered into a definitive agreement to acquire ADB Safegate, a global airport performance solutions provider, from PAI Partners, alongside existing management of the company.

The transaction is expected to close in the second half of 2017 subject to customary requirements and regulatory approvals. Equity for the investment will come from Carlyle Europe Partners IV (CEP IV), a European-focused upper-mid market buyout fund. Further financial details of the transaction were not disclosed.

ADB Safegate delivers intelligent solutions that support superior airport performance. The company designs, develops and produces systems, products and solutions for airfield ground lighting, aircraft docking guidance and air traffic control, complemented by a full range of integrated end to end services. The company’s ground-breaking solutions address critical challenges faced by airports globally, including congestion, operational complexity, environment and sustainability performance as well as digital disruption.

Founded in 1920 by Adrien de Backer, the company has a long history of innovation and geographical footprint expansion, organically and through acquisitions. Today, it serves more than 2,500 airports across over 175 countries. ADB Safegate has more than 900 employees, four production facilities in Belgium, Germany, USA and China and a software development centre in Austria. Its footprint is reinforced by a strong global commercial presence including more than 100 agents and distributors and a vast network of dedicated R&D facilities.

Christian Onseleare, CEO, ADB Safegate, said: “We are grateful for PAI’s strong support as ADB Safegate embarked on a journey of transformation towards a pro-active, consultative provider of integrated end to end Airport Performance Solutions. We are delighted and proud to continue this journey with Carlyle as a powerful partner. Together with Carlyle we will grow and further consolidate our position in the aviation industry while keeping the core values that made ADB Safegate successful in the first place: passion, quality, leadership and care.”

Laurent Rivoire, Partner at PAI Partners, commented: “When we acquired ADB in 2013, it was a leading player in airfield ground lighting. Four years later, through organic initiatives and the transformational combination with Safegate, the group has become the global leader in airfield guidance systems, providing airports worldwide with unique end-to-end airfield management solutions. We would like to thank the ADB Safegate management team led by Christian Onselaere for this successful partnership with PAI, and we wish them well in their next development phase.”

Jonathan Zafrani, Managing Director, Carlyle Europe Partners, added: “We are very impressed with ADB Safegate’s longstanding performance and in particular by its growth through strategic acquisitions. We welcome the opportunity to support the ADB Safegate’s management team’s goal to become the global solutions provider of choice for airports around the world. Partnership with Carlyle will enable the company to benefit from our global scale and network and our experience in many of the company’s end markets.”

Citi and Lazard acted as financial advisors and Freshfields Bruckhaus Deringer acted as legal advisor to The Carlyle Group. Credit Suisse and Rothschild acted as financial advisors and Willkie Farr & Gallagher acted as legal advisor to PAI Partners. Callisto and Clairfield acted as financial advisors to the management team.

About PAI Partners

PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. PAI manages €8.3 billion of dedicated buyout funds. Since 1994, the company has completed 61 transactions in 11 countries, representing c. €41 billion in transaction value. PAI is characterised by its industrial approach to ownership combined with its sector-based organisation. They provide the companies they own with the financial and strategic support required to pursue their development and enhance strategic value creation.

About the Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $162 billion of assets under management across 287 investment vehicles as of March 31, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.

About Carlyle Europe Partners

Carlyle Europe Partners seeks to invest in upper and mid-size companies in Europe across a wide range of sectors and industries, accelerate their growth and support their efforts to expand internationally. The current fund is now the fourth in the CEP franchise. The fund is managed by a team of 41 investment professionals across five offices.

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Almi Invest invests in space technology Sally R for better air

Almi Invest invests in Vasteras based Sally R, a company that uses technology from space stations to have better indoor air to lower energy consumption in buildings. The issue is also involved private investors.

The company will use the money to produce a finished product and to start selling.

Sally R, founded in 2016, is developing a new system for climate management in real estate. By combining technology for closed systems for space stations using its own technology, Sally R may provide an air cleaner that provides a cleaner and better air with minimal power consumption.

Today, taking the climate systems in air from the outside and then sends out the excess. This requires a lot of energy, because the outside air must be filtered, heated or cooled depending on outdoor conditions. In space there is no outdoor air and where the air must be treated and recycled.

Sally R’s algorithm combines both systems and determine how much air should be based on how much should be recycled and how much should be cleaned using space technology.

This is a major improvement over the current system, where you have to choose between air quality and energy conservation. If you reduce the ventilation energy is saved, but get less air. Emphasis is however on cleaner air, as in an operating room, it draws more power.

With Sally Rs solution to get both.

– Given that buildings account for 1/3 of the world’s energy consumption, we see great potential for the company, says Jenny Jansson, investment manager at Almi Invest. Sally R has a very good team and a great product for a growing market that requires less energy.

The company will now apply for a patent and produce a first marketable version of the product.

– This investment will allow us to take the next step, says Sally R’s CEO and founder Viktor Kjellberg. Air pollution in the world’s a big problem and where we hope to make a difference.

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EQT Infrastructure II to acquire CHEP Aerospace Solutions from Brambles

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eqt-logo

EQT Infrastructure II to acquire the global leader in pooling, management, maintenance and repair of unit load devices for the aviation industry

Existing leadership team to remain in place and CHEP Aerospace Solutions to be rebranded to have its own unique identity

EQT Infrastructure committed to actively support the development of CHEP Aerospace Solutions through an industrial board of directors including senior leaders with aviation expertise

EQT Infrastructure II (“EQT Infrastructure” or “EQT”) has announced today to acquire CHEP Aerospace Solutions (the “Company”) from Brambles, a global supply-chain logistics provider. CHEP Aerospace Solutions is the global leader in pooling, management, maintenance and repair of unit load devices (ULDs) for the aviation industry. ULDs are containers and pallets used for transportation of cargo and baggage on aircraft and constitute a mission critical part of the aviation infrastructure.

CHEP Aerospace Solutions was established by Brambles in 2011 following the acquisition and integration of four leading ULD solutions companies. Through subsequent acquisitions and Brambles’ pooling expertise, the Company has become the global leader in pooling, management, maintenance and repair of ULDs for the aviation industry. Today, the Company generates around USD 80 million in revenues, owns and manages approximately 100,000 ULDs, and serves more than 90 airlines across an unparalleled network of 48 global services centers and 420 airports, supported by over 550 expert team members. EQT will support the continued development of CHEP Aerospace Solutions and will actively assist the company in capturing new growth opportunities.

The existing CHEP Aerospace leadership team will remain in place and will continue to focus on providing its world class customer service and delivering the very best solutions that create sustainable value for its clients. The Company is headquartered in Switzerland, along with regional operations centers in the United Kingdom, Thailand and the USA, in addition to global services centers in Europe, Middle East and Africa, Asia Pacific and the Americas. As part of the transaction, CHEP Aerospace Solutions will eventually be rebranded to have its own unique identity.

CHEP Aerospace Solutions President, Dr. Ludwig Bertsch, said: “We would like to place on record our thanks to the Brambles team whose support and expertise has enabled us to develop the world’s leading ULD management network. We are excited to join EQT Infrastructure, one of the world’s most respected infrastructure funds, which combines the very best people with the industry expertise in infrastructure management that will allow us to continue to grow and provide smarter solutions and unparalleled customer service to the aviation industry.”

Ulrich Köllensperger, Director at EQT Partners and Investment Advisor to EQT Infrastructure, said: “CHEP Aerospace Solutions provides critical infrastructure and services to the aviation industry and fits well with the EQT Infrastructure strategy of investing in medium sized operating infrastructure companies with opportunities for additional growth and development. The Company has a proven business model, an impressive customer base and a promising pipeline of prospective airline clients. The industrial board of directors including senior leaders with aviation expertise will support CHEP Aerospace Solutions in growing its asset base and offer pooling, management, maintenance and repair to more airlines globally.”

Tom Gorman, CEO of Brambles, said: “The launch of CHEP Aerospace Solutions in 2011 was part of Brambles’ strategy of leveraging its asset management and supply chain expertise to deliver value to customers across new industry verticals. Over the past five years, we have built a highly successful global business that now partners many of the world’s leading airlines. We are confident that the future growth of the Aerospace business will be well served under the ownership of EQT Infrastructure which has a dedicated focus on infrastructure and related services, with a proven track record of success. On behalf of everyone at Brambles, I would like to thank the CHEP Aerospace Solutions team for their commitment to becoming the industry-leaders they are today and we wish them every success for the future.”

The transaction is expected to close during November 2016.

Contacts:

Ulrich Köllensperger, Director at EQT Partners, Investment Advisor to EQT Infrastructure, +41 44 266 6800

Kerstin Danasten, EQT Press Contact, +46 8 506 55 334

About EQT

EQT is a leading global private equity group with approximately EUR 30 billion in raised capital. EQT Funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

For further information, please visit: www.eqtpartners.com

About CHEP Aerospace Solutions

CHEP Aerospace Solutions owns and manages the world’s largest independent fleet of approximately 100,000 unit load devices (ULDs), for use in the aviation industry, and owns the largest global network for the maintenance and repair of ULDs and galley carts. The company focuses on the outsourced management and associated services for aviation containers, pallets and inflight food service equipment, and serves over 90 airlines through a network of more than 420 airports, 14 regional offices and 48 certified repair stations, supported by more than 550 colleagues.

For further information, please visit www.chep.com/aerospace

About Brambles

Brambles Limited (ASX: BXB) is a supply-chain logistics company operating primarily through the CHEP and IFCO brands. Brambles enhances performance for customers by helping them transport goods through their supply chains more efficiently, sustainably and safely. The Group’s primary activity is the provision of reusable unit-load equipment such as pallets, crates and containers for shared use by multiple participants throughout the supply chain, under a model known as “pooling”. Brambles primarily serves the fast-moving consumer goods (e.g. dry food, grocery, and health and personal care), fresh produce, beverage, retail and general manufacturing industries, counting many of the world’s best-known brands among its customers. The Group also operates specialist container logistics businesses serving the automotive, aerospace and oil and gas sectors. Brambles has its headquarters in Sydney, Australia, but operates in more than 60 countries, with its largest operations in North America and Western Europe. Brambles employs more than 14,500 people and owns more than 550 million pallets, crates and containers through a network of more than 850 service centres.

For further information, please visit www.brambles.com

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PAI Partners and ADB Airfield Solutions to acquire SafeGate from Fairford Group

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PAI Partners

PAI Partners (“PAI”), a leading European private equity firm, and ADB Airfield Solutions (“ADB”), a global airfield lighting solutions provider, today announce the acquisition of Safegate International AB (“Safegate”), from Fairford Group (“Fairford”).

PAI Partners and ADB Airfield Solutions to acquire Safegate from Fairford Group

PAI Partners (“PAI”), a leading European private equity firm, and ADB Airfield Solutions (“ADB”), a global airfield lighting solutions provider, today announce the acquisition of Safegate International AB (“Safegate”), from Fairford Group (“Fairford”).

Safegate is a leading airfield solutions business providing aircraft docking guidance systems, gate management systems, airfield lighting solutions and air traffic control systems to more than 1,300 airports in 130 countries. Thanks to its pioneering R&D capabilities, Safegate delivers integrated, technology-driven solutions to help airports meet increasing demand for safe, efficient and environmentally-friendly airfield operations. Safegate is headquartered in Malmö, Sweden, has more than 300 employees worldwide and generated revenue of SEK 1.3 billion in 2015.
Fairford, the private investment company of the Osseiran Family Trust, has a range of investments across Europe, predominantly in Sweden and the United Kingdom. Fairford has owned Safegate since 1991 and under Fairford’s ownership, Safegate has developed from being a business with docking guidance systems and airfield lighting technologies into a world leader in airfield passenger throughput technologies.

Laurent Rivoire and Ragnar Hellenius, Partners at PAI, said:
“This is a very exciting moment. Through this combination between PAI-owned ADB and Safegate, we are creating the world leader in advanced airfield guidance systems, from aircraft landing to parking. Thanks to its scale, cumulative experience and innovation capabilities, ADB Safegate will be well positioned to assist airports in dealing with traffic expansion in absolute safety. We look forward to the successful development of the new ADB Safegate group.”

Christian Onselaere, CEO of ADB, said:
“At ADB we are excited and looking forward to team up with Safegate. ADB can build on 69 years of experience in the airfield lighting market. We have grown from a product supplier to a leader in turnkey solutions and services for the airside. The new combination will create a true expert in products, solutions and services from the airside over the gate to the tower. Our company ADB Safegate will use its power of innovation and global reach to offer best-in-class solutions that help airports meet the growing challenges of higher traffic throughput, the need for more efficiency and sustainable growth.”
Bengt A. Dahl, Chairman of Fairford, and Salah Osseiran, Director of Fairford, said:
“We have been proud owners of Safegate for 25 years. Under Fairford’s ownership, Safegate has remained at the forefront of technological innovation, strengthened its solutions offering and dramatically expanded its geographic footprint across the globe. Today, Safegate is associated with some of the world’s leading airports and has established itself as a leading innovator in its core markets. The Safegate success story is testament to its world class management team and we would like to thank everyone at Safegate for their hard work and entrepreneurial spirit. We wish Safegate all the best in its partnership with PAI and ADB and look forward to seeing it continue to grow from strength to strength.”

Per-Olof Hammarlund, CEO of Safegate, said:
“Together with Fairford, we have built a premier global airfield solutions provider with a track-record of growth, excellence and innovation. We are thankful to Fairford for their constant support over so many years. We look forward to the partnership with PAI and ADB to deliver the next chapter of our story, as we continue to pursue our vision of becoming the world leader in integrated airfield solutions. Safegate’s culture of entrepreneurship and innovation runs deep in our organisation and we are excited to work with partners who share our values. Our clients and employees stand to benefit from a broader platform of airfield solutions, greater global reach and continued focus on growth.”

Evercore and deNovo Corporate Advisors acted as financial advisors and Ashurst acted as legal advisor to Fairford. Rothschild acted as financial advisor to PAI.

About ADB

The ADB Group comprises ADB Airfield Solutions, LUCEBIT and ERNI AGL, three world-leading airfield technology companies specializing in end-to-end, integrated and sustainable solutions for visual guidance. Our innovative approach, SmartExpansion Path, leverages our turnkey expertise to help our customers prioritize their airport expansion plans and overcome growth stress by addressing eight domains of airside operations. These cover the complete airside cycle from Traffic Management, AGL Audit, Design, Products and Solutions to Systems Integration, Services and Project Management, and Training and Maintenance.
With a worldwide presence and experience spanning 69 years in airfield lighting, we’re at the forefront of LED lighting and offer a complete portfolio that sets new standards in safety, performance, quality, and customer service. More than 2000 airports in 175 countries have chosen ADB as their preferred partner for airside operations.
For more information about ADB, please visit our website at www.adb-air.com

About Fairford

Fairford is an active and value-adding investor seeking to invest in privately owned companies in Sweden and the UK. Through long term engagement, sustainable operational improvements and clear strategic positioning Fairford aims to create a portfolio of leading companies in their respective markets. Headquartered in Östersund, Sweden with offices in Stockholm and London, Fairford is a private investment company owned by the Osseiran Family Trust.
For further information about Fairford please visit our website: www.fairfordholdings.com

About PAI Partners

PAI is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich and Stockholm. PAI manages €8.1 billion of dedicated buyout funds. Since 1994, PAI has completed 58 LBO transactions in 11 countries, representing c. €40 billion in transaction value. PAI is characterised by its industrial approach to ownership combined with its sector-based organisation. PAI provides portfolio companies with the financial and strategic support required to pursue their development and enhance strategic value creation.
For further information about PAI: www.paipartners.com

About Safegate

Safegate Group offers a complete range of integrated intelligent solutions for the airside, tower and gate for increased safety, efficiency and environmental benefits to airports around the world. The company was founded in 1973 and has its headquarters in Malmö, Sweden. Acquisitions include Thorn Airfield Lighting, Idman Airfield Lighting and Liberty Airport Systems with more than 40 years of experience in the design and implementation of airfield lighting solutions, and Avibit, a leading provider of integrated solutions for air traffic control. www.safegate.com.

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