ADB SAFEGATE acquired by PAI PARTNERS
Context
PAI Partners acquired ADB Airfield Solutions from Montagu Private Equity in a control buyout following a prior carve-out from a former industrial group. ADB is a global leader in airfield ground lighting (AGL) systems, providing end-to-end solutions including runway and taxiway lighting, power supply equipment, and monitoring and control systems for airport operations. The company serves more than 2,000 airports across over 175 countries, with a strong international footprint and significant exposure to emerging markets. The transaction is intended to support the next stage of ADB’s development, focusing on: international expansion through local manufacturing and commercial capabilities, operational efficiency improvements via global integration, strengthening of technology leadership in airport lighting systems, and selective external growth through acquisitions. Rothschild acted as exclusive financial advisor to the seller and the company, while BNP Paribas advised the buyer.
It is worth noting that the fund Montagu Private Equity took control of Adb Safegate through an LBO in 2009.
ADB SAFEGATE, which reported an EBITDA margin of [members only] in 2012, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Industry & Manufacturing sector (11.7x).
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Target
ADB SAFEGATE (ex ADB Airfield Solutions) is a global leader in airfield ground lighting (AGL) systems for airport infrastructure. The company designs, manufactures, and markets a comprehensive range of runway and taxiway lighting products, as well as integrated control, monitoring, and power management systems used in airport operations. Its solutions cover both airside equipment and centralized control systems deployed in control towers and electrical substations. ADB serves a wide range of airport customers, from major international hubs to regional airports, military bases, and heliports. The company has a strong global footprint, with installations in more than 2,000 airports across over 175 countries. It operates an international industrial and commercial platform, including manufacturing sites in Europe, the United States, and China, as well as a global network of sales offices and distributors. The company is also recognized for its technological leadership in LED airfield lighting and intelligent airport infrastructure systems.
Ent. Value
€100–350M
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with ADB SAFEGATE
Other operations with ADB SAFEGATE
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2017 | THE CARLYLE GROUP | ADB SAFEGATE | BELGIUM | Aerospace, Naval & Defense |
| 02/2016 | ADB SAFEGATE / PAI PARTNERS | SAFEGATE INTERNATIONAL | SWEDEN | Aerospace, Naval & Defense |
| 06/2009 | MONTAGU PRIVATE EQUITY | ADB SAFEGATE | BELGIUM | Aerospace, Naval & Defense |
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|---|---|---|---|---|
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REFERENCES
Valuation range: EV €100–350M
Revenue range: €100–200M
EV/Revenue range: 1x - 3x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ADB SAFEGATE by PAI PARTNERS are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: adb safegate
Acquirer: pai partners