Arle exits Qioptiq in trade sale

In 2008, Arle (then Candover) recapitalised Qioptiq, with European Capital and American Capital investing $85m in a mezzanine tranche.

The firm was originally acquired by Candover in 2005 for €220m. A debt package was provided by the Royal Bank of Scotland while equity was provided via the Candover 2001 fund.

Throughout the holding period, Arle followed a growth and build strategy, with Qioptiq acquiring strategic players in Germany and the UK. In 2006, Qioptiq acquired listed corporation Linos through its acquisition vehicle Optco Akquisitions.

Arle currently holds nine businesses in its portfolio. It span out of Candover in 2009 and has divested Ontex, Equity Trust and Capital Safety Group since.

Company
Qioptiq designs and manufactures photonic solutions and products. The firm was the high-tech optics division of defence company Thales, but span out in 2005 after being bought by Candover.

Qioptiq operates in Germany, the UK, the US, Hungary and Singapore, but is headquartered in Paris. It employs 2,000 staff.

The firm reported revenues of $392m in 2011.

People
David Nislick is CEO of Excelitas Technologies. Nils Stoesser is a partner at Arle. David Marks is Qioptiq's CEO.

Advisers
Vendor – Rothschild (Corporate finance); Credit Suisse (Corporate finance); Shearman & Sterling (Legal).
Company – Skadden Arps Slate Meagher & Flom (Legal).

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• Topics
• France
• Technology
• Exits
• Trade sale
• France
• Arle Capital Partners