MBO Partenaires buys 80% of LMB

The GP secured an 80% stake, with the remaining shares held by the management team. MBO Partenaires invested via its third fund, which closed on €180m in 2010. This is the vehicle's third transaction.

The new owners bought the business from US trade player Honeywell, which had acquired LMB in 2000.

The company will now aim to keep growing organically, while accelerating its international expansion. LMB will notably look to grow in Asia and the US, and will also increasingly target the railway transportation market.

Debt
CIC, LCL and BNP Paribas arranged a 2.5x EBITDA senior debt package to finance the MBO. The debt-to-equity ratio was close to 1:1.

Company
Founded in 1941, LMB manufactures high performance fans and electric motors with a particular focus on the aerospace industry. The company employs around 60 staff; it generates a €1.8m EBITDA on a €10m turnover. Half of its revenues are generated outside of France.

People
Eric Dejoie, Julien Wormser and Baptiste Proveau-Nodet led the deal for MBO Partenaires. Thomas Bernard is the managing director of LMB.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• Buyouts
• Industrials
• France
• MBO Partenaires
• BNP Paribas