Eurazeo’s Vignal bolts on 21 Partners’ ABL Lights

21 Partners invested in ABL in 2006, when the company was called Auteroche-ABL - a result of the merger of Auteroche and ABL Lights - prior to its merger with NBB Nordisk Bilbelysing to create the ABL Lights Group as it stands today.

Eurazeo acquired Vignal in February, in a deal that valued the company at €50m. Eurazeo paid €25m for a 71% stake alongside management, buying its new shareholding from the company's management team and ActoMezz, which had backed the sponsorless buyout of Vignal in April 2008.

ActoMezz - the mezzanine team of ACG Capital - had provided Vignal with mezzanine debt and equity at the time of the 2008 transaction. The deal, which was valued at €10-20m, saw the company's management up their stake from 20% to more than 50%.

The MBO saw previous backers 3i, Finadvance and Viveris Management exit their 75% shareholding in Vignal. The three firms had acquired the company in September 2004 in a €20m buyout. Barclays provided a senior debt package for the deal, according to unquote" data.

The merger of Vignal and ABL is expected to result in combined revenues of around €80m for 2014.

Founded in 1919, Lyon-based Vignal designs and manufactures signalling products, predominantly for trucks. The company employs 230 staff and generated turnover of almost €50m in 2013.

Company
Originally founded in 1875, ABL is headquartered in Caen, France with additional offices in Dalian, China and Mosinee in Wisconsin, US.

The company manufactures heavy-duty work lights and driving lights for the mining, construction, agriculture and forestry vehicle industries. ABL also provides light products for the railway industry.

The company employs 109 staff and generated revenues of €27.3m in 2013. Around 55% of turnover was generated in Europe, with 9% in France, while 28% was generated in the US and 8% in Asia.

People
Yves-Henry Brepson is the chairman of ABL, while Jean-Louis Coutin is the chairman of Vignal. Olivier Millet is the chairman of Eurazeo PME and Gérard Pluvinet is chairman of 21 Partners.

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• Topics
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• France
• Industrials
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• France
• Eurazeo
• 21 Centrale Partners
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