PAI’s ADB acquires airfield services provider Safegate

The deal marks the end of 25 years of ownership for Fairford Group, which is the Osseiran Family Trust's investment vehicle.

Safegate is the first bolt-on for ADB since the Belgian company was acquired by PAI for an estimated €320m in 2013.

Previous funding
PAI drew on its €2.7bn PAI Europe V vehicle in March 2013 for the SBO of ADB from Montagu Private Equity.

Montagu had bought the company four years prior, carving out ADB from then-parent Siemens in September 2009.

Company
Founded in 1973, Safegate is an airfield services company, providing systems for aircraft docking guidance, gate management, airfield lighting and air traffic control.

Based in Malmö, the business generated SEK 1.3bn of revenue in 2015 and employs a staff of 300.

People
PAI Partners – Laurent Rivoire, Ragnar Hellenius (partners).
ADB – Christian Onselaere (CEO).
Fairford – Bengt A Dahl (chairperson); Salah Osseiran (director).
Safegate – Per-Olof Hammarlund (CEO).

Advisers
Equity – Rothschild (corporate finance).
Vendor – Ashurst (legal); Evercore (corporate finance); deNovo Corporate Advisors (corporate finance).

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• Topics
• Expansion
• Nordics
• Industrials
• Sweden
• PAI Partners
• Build-up