Stirling Square Capital acquires AD Industrie

Stirling is acquiring the group from previous majority owner Ingefin, a family office, and from minority shareholders BPI France (who entered the group in 2011 under the name Fonds Stratégique d'Investissement) and GE Capital.

As part of the transaction, Stirling Square has appointed aerospace industry expert Evrard Willemaers as company CEO. He is joining from his role at Precision Castparts Corporation Europe, where he spent nine years in various senior management positions.

Alongside Willemaers and his team, Stirling Square his hoping to help the group grow in France and beyond through potential M&A transactions in the future, the GP said in a statement.

The transaction represents the sixth investment made by the GP through its third fund, closed above target on €600m in January this year. In February, the group acquired Mettis group from Saint Chamonix. The fund is now 60% deployed, unquote" understands.

Previous funding
In December 2011, Fonds Stratégique d'Investissement (FSI) and GE Capital provided €18m in growth capital to AD Industrie. FSI invested €10m and GE Capital €8m in the transaction. The funding was aimed at helping the firm grow and supporting the proposed acquisition of Examéca.

Company
Established in 2004 and headquartered in Paris, AD Industrie is a manufacturer of hydraulic units and components for the aerospace, defence, and energy sectors. Its clients include Safran, Rolls-Royce, Airbus and Dassault. The group has manufacturing sites in France, Tunisia and Morocco.

AD Industrie currently generates revenues in excess of €200m and employs 1,500 people worldwide.

People
Stirling Square Capital Partners – Julien Horreard (private equity investor).

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• Topics
• Buyouts
• France
• Industrials
• France
• Stirling Square Capital Partners
• BPI France
• GE Capital