Quantcast

Carlyle to buy airfield lighting group ADB Safegate


Reuters

July 17 (Reuters) - U.S. buyout firm Carlyle Group LP <CG.O>
said it agreed to buy airfield lighting group ADB Safegate from
private equity group PAI Partners.
    Financial terms of the deal were not disclosed. http://bit.ly/2u0MFMr
    Reuters reported last week that Caryle was buying ADB
Safegate at a valuation of about 900 million euros ($1.03
billion) including debt. [nL8N1K6079]
    PAI Partners bought ADB from peer investor Montagu in 2013
for 208 million euros.
    ADB was founded in 1920 by Belgian businessman Adrien de
Backer, initially as a supplier of flood lights for theatres and
sports grounds. It diversified into airfield lighting from 1947
and was acquired by Siemens <SIEGn.DE> in 1987, which eventually
sold the company on to Montagu in 2009.
    In 2016, PAI Partners acquired docking guidance systems
specialist Safegate International for an undisclosed amount. It
merged the two groups to form ADB Safegate.
    Belgium-based ADB Safegate supplies visual guidance
solutions from landing to parking for airplanes, including
lighting systems for airport runways as well as docking and
tower systems.
    The transaction is expected to close in the second half of
2017, Carlyle said in a statement on Sunday.
    Citi and Lazard acted as financial advisers to Carlyle on
the deal, while Credit Suisse and Rothschild advised PAI
Partners.

($1 = 0.8737 euros)

 (Reporting by Sangameswaran S in Bengaluru; Editing by Amrutha
Gayathri)
 ((Sangameswaran.S@thomsonreuters.com; within U.S.+1 646 223
8780; outside U.S. +91 80 6749 3544; Reuters Messaging:
Sangameswaran.S.thomsonreuters.com@reuters.net))

Keywords: PAIPARTNERS ADBSAFEGATE/



This article appears in: World Markets , Stocks
Referenced Symbols: CG ,


More from Reuters

Subscribe






See headlines for CG









Research Brokers before you trade

Want to trade FX?