Montagu Private Equity sells ADB to PAI partners

The transaction remains subject to regulatory approval, but PAI is understood to be paying Montagu approximately €200m for ADB Solutions.

Senior debt financing worth around €120m will be arranged by Bank of Ireland, BNP Paribas and UniCredit, according to reports.

Montagu acquired ADB Solutions from Siemens in September 2009. The deal, valued at €100-250m, was financed with a €73m debt facility provided by Bank of Ireland, WestLB, Siemens Financial Services, Fortis and KBC Bank.

Company
ADB Solutions is a manufacturer of airfield ground lighting products and solutions. It caters to more than 2,000 airports worldwide. ADB Solutions was established following Montagu's acquisition of ADB.

The company operates manufacturing facilities in the US and China, along with sales offices across the world. ADB Solutions' annual turnover amounts to €160m, with 45% being generated in emerging markets.

People
Partner Laurent Rivoire led the deal on behalf of PAI. Director Sylvain Berger-Duquene managed the sale for Montagu. Christian Onselaere is CEO of ADB Solutions.

Advisers
Equity – BNP Paribas (M&A).
Vendor – Rothschild (M&A). 

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