Afinum, Invision-backed Ledlenser prepped for sale

The business is expected to generate FY22 EBITDA in the range of EUR 15m-20m, depending on adjustments, the two of the sources said. The company's FY21 EBITDA was around EUR 13m, the third source added.

Sponsor buyers will be looking at the asset, but more visibility is required on its performance, another of the sources said.

Afinum and Invision acquired the flashlight manufacturer, considered to be the inventor of the LED flashlight, along with management in 2018 from US-based Leatherman Tool Group for an undisclosed sum, according to Mergermarket. Afinum served as the lead investor and majority shareholder, as reported.

In 2020, Ledlenser reported EUR 64m revenue and EUR 11m adjusted EBITDA and said it expected revenue and EBITDA growth in 2021, according to its latest available financial filings.

Under the sponsors' ownership, Ledlenser acquired Ledco, a UK-based distributor of its products in Great Britain, Ireland and Northern Ireland, in 2021 as part of a succession situation.

Established in 1994 by Rainer and Harald Opolka, the founders sold their majority stake in the firm to Leatherman in 2011, according to Invision's website.

Based in Solingen in the state of North Rhine-Westphalia, Ledlenser produces high-end LED flashlights and headlamps for outdoor enthusiasts, police as well as fire fighters, according to Afinum's website. Ledlenser has around 1050 employees and produces in China at its site in Yangjiang and has strong market positions in Europe and Asia.

Houlihan Lokey declined to comment. Afinum, Invision and Ledlenser did not respond to requests for comment.

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• Topics
• Exits
• DACH
• Industrials
• Mergermarket
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• Afinum
• Invision Private Equity AG