Eurazeo reaps 3.7x money on Orolia exit to trade

The transactions for the French precision electronics technology company represents a cash-on-cash multiple of 3.7x and an internal rate of return (IRR) of around 25%, according to a press release by the sponsor.

Eurazeo reportedly engaged Rothschild and Evercore to run the sale process late last year. The company generates around EUR 25m in EBITDA, according to the press report.

The French sponsor acquired a 50.1% stake in the group in 2016 when it was valued at around EUR 100m. Eurazeo invested in the manufacturer of resilient positioning, navigation and timing solutions and applications via its Eurazeo PME mid-cap strategy.

Five European and US acquisitions and investments were made during Eurazeo's investment period, namely Netwave, Satelles, Talen-X, Skydel and Seven Solutions between 2016 to 2021.

Dispoals were also made during the ownership period as part of its strategy to simply the once diversified industrial holdings group into an integrated pure player.

Since its investment, Orolia has doubled its organic growth rate and profit margins. It has also built on the company's US exposure where more than half of the company's revenue is now generated.

Company
Les Ulis-based Orolia specializes in resilient positioning, navigation and timing solutions that improve the reliability, performance and safety of critical, remote and high-risk operations for governments, military, aerospace, defence and industry markets.

People
Eurazeo PME – Erwann Le Ligné (managing director).
Orolia Group – Jean-Yves Courtois (founder).

Advisors
Vendor – Evercore, Rothschild (corporate finance).

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