Paris, December 6, 2021
Eurazeo’s Small-Mid Buyout team1 has signed an exclusivity agreement with Safran regarding the
sale of its majority stake in the Orolia group, a world leader in R-PNT (Resilient Positioning,
Navigation and Timing) solutions and applications. The disposal would remain subject to approvals
from various relevant regulatory authorities.
Since its investment in Orolia in 2016 and the subsequent delisting, Eurazeo has supported the
company by bringing the additional human and financial resources required for its structuration
around founder Jean-Yves Courtois and for its development, especially in the US, where Orolia
generates now more than half of its revenue.
Through an active M&A strategy – five acquisitions have been achieved since 2016, i.e. Netwave
(Netherlands) and a minority investment in Satelles (US) in 2017, Talen-X (US, 2019), Skydel
(Canada, 2019) and Seven Solutions (Spain, 2021) as well as targeted assets disposals – Orolia has
transformed to focus on its most promising markets, evolving from a diversified holding company
into a fully integrated pure player. As a result, Orolia has doubled its organic growth rate and profit
margins. It has also continuously invested in research and development, allocating more than 10%
of its revenue each year, giving the company a unique technological edge in its markets.
Driven by the long-term strategic vision of its founder and chairman Jean-Yves Courtois, its focus
on innovation and its client centric approach, the group has been able to become a global
technologic leader in a fast-growing market.
Eurazeo’s disposal is set to produce a cash-on-cash multiple of 3.6x and an IRR (internal rate
of return) of around 25%.
Erwann Le Ligné, Managing Director, Small-Mid Buyout and member of Eurazeo Mid Cap’s
Executive Board, said:
“Orolia is a perfect illustration of the Small-Mid Buyout team’s
investment strategy: supporting the development of companies that
are leaders in their markets and driven by the vision and commitment
of their management teams. We are proud to have transformed Orolia,
alongside Jean-Yves Courtois and his teams, into an integrated pure
player in France and internationally.”
1 Part of the Eurazeo Mid Cap asset management company.
EURAZEO CONTACTS
Virginie Christnacht
HEAD OF COMMUNICATIONS
vchristnacht@eurazeo.com
+33 (0)1 44 15 76 44
Pierre Bernardin
HEAD OF INVESTOR RELATIONS
pbernardin@eurazeo.com
+33 (0)1 44 15 16 76
PRESS CONTACT
David Sturken
MAITLAND/AMO
dsturken@maitland.co.uk
+44 (0)7990 595 913
