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Carlyle Group to buy airfield lighting group ADB Safegate

Credit Suisse and Rothschild advised PAI on the deal while Citi and Lazard advised Carlyle


Carlyle Group
Carlyle Group

group Carlyle has agreed to buy airfield lighting group at a valuation of about $900 million ($1 billion) including debt, sources said. supplies visual guidance solutions from landing to parking for airplanes, including lighting systems for airport runways as well as docking and tower systems. PAI Partners bought ADB from Montagu in 2013 for $208 million and last year acquired docking guidance systems specialist Safegate for an undisclosed sum. reuters

It merged the two groups to form

The sale values the company whose products are installed at 2,500 globally at more than 10 times its expected 2017 earnings before interest, tax, depreciation and amortization of 70-80 million euros, one of the sources said.

ADB was founded in 1920 by Belgian businessman Adrien de Backer, initially as a supplier of flood lights for theaters and sports grounds. It diversified into airfield lighting from 1947 and was acquired by Siemens in 1987, which eventually sold the company on to Montagu in 2009.

and Rothschild advised PAI on the deal while Citi and Lazard advised Carlyle.

Carlyle, PAI and the banks declined to comment or were not immediately available for comment.

First Published: Mon, July 17 2017. 02:01 IST