LMB AEROSPACE
Acquired by
LOAR GROUP
LMB AEROSPACE acquired by LOAR GROUP
Target
LMB AEROSPACE
Acquirer
LOAR GROUP
Context
Loar Group acquired 100% of LMB Aerospace from a consortium led by Tikehau Capital (Aero Fund), Amundi, and IDIA Capital Investissement. The transaction represents a significant multiple for Tikehau (>2.5x MOIC), doubling the entry valuation from 2021. The deal was financed via an incremental term loan provided by Blackstone. Despite initial concerns regarding industrial sovereignty and opposition from the French DGA (Directorate General of Armaments), the French Ministry of Economy authorized the sale in late 2025.
LMB AEROSPACE, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 10.5x average currently observed in the Industry & Manufacturing sector.
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Target
Founded over 60 years ago, LMB Aerospace is a global leader in high-performance electric fans, blowers, and motors for harsh environments. Its products are critical for cooling electronics and engines in aerospace (Rafale), naval (nuclear submarines), space, and land defense platforms. The company maintains 2,000+ proprietary designs and serves over 250 global clients.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with LMB AEROSPACE
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 07/2012 | TIKEHAU CAPITAL / IDIA CAPITAL INVESTISSEMENT | LMB AEROSPACE | FRANCE | Engines & Systems | MBO Partners acquired an 80% stake in LMB from the American group Honeywell, which had owned the company since 2000. This "return to the French flag" allowed the management team to take a 20% stake. The transaction was financed with a senior debt representing slightly less than 2.5x EBITDA and a debt-to-equity ratio close to 1:1. The goal was to leverage MBO Partners' support offices in China, India, and Brazil to accelerate international expansion. |
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