Carlyle's ADB Safegate bolts on Ultra AS for £22m

The transaction includes a £2m payment that is to be deferred pending the transfer of certain commercial contracts.

It is understood Carlyle did not provide follow-on funding to support the acquisition.

The deal comes 16 months after Carlyle acquired ADB Safegate, an airfield ground lighting specialist, from PAI Partners in a deal that was reported by Reuters to have been valued at €900m.

The bolt-on acquisition is scheduled for completion by the end of January 2019.

Carlyle declined to comment on the transaction.

Company
Headquartered in Manchester, Ultra Airport Systems (Ultra AS) provides secure IT systems and software related to operational performance, baggage management and passenger processing. The division serves around 100 airline clients, with its systems installed at 150 airports.

According to a statement issued by the vendor, the division generated an operating profit of £3.2m from revenues of £18.9m in 2017.

People
Ultra Electronics – Simon Pryce (CEO).

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