MONTAGU PRIVATE EQUITY takes majority stake in ADB SAFEGATE
Context
Montagu Private Equity acquired ADB from Siemens through a carve-out transaction designed to separate the airport lighting business from the German industrial group. The transaction led to the creation of ADB Airfield Solutions as an independent company, bringing together operations, employees and customer relationships previously spread across several Siemens entities. Following the acquisition, Montagu supported the company's transformation into a standalone global platform, focusing on international expansion, operational development, technology enhancement and growth in emerging markets.
ADB SAFEGATE, which reported an EBITDA margin of [members only] in 2009, 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).
-> Deep-dive in Industry & Manufacturing market trends
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
€1–100M
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
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 |
| 11/2013 | PAI PARTNERS | ADB SAFEGATE | BELGIUM | Aerospace, Naval & Defense |
Similar deals in Aerospace, Naval & Defense
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2017 | THE CARLYLE GROUP | ADB SAFEGATE | BELGIUM | Aerospace, Naval & Defense |
| 06/2017 | TOWERBROOK / TORREAL / PENINSULA CAPITAL | AERNNOVA | SPAIN | Aerostructures |
| 02/2016 | J F LEHMAN | SPECTRUM CONTROL | UNITED STATES | Electronics |
| 02/2016 | ADB SAFEGATE / PAI PARTNERS | SAFEGATE INTERNATIONAL | SWEDEN | Aerospace, Naval & Defense |
| 05/2015 | WÄRTSILÄ CORPORATION | L-3 MARINE SYSTEMS INTERNATIONAL | GERMANY | Naval |
| 04/2015 | SPRINGWATER CAPITAL | AERNNOVA | SPAIN | Aerostructures |
| 01/2015 | EXCHANGE INCOME CORPORATION | PAL AEROSPACE | CANADA | Aerospace, Naval & Defense |
| 12/2013 | TEXTRON | BEECHCRAFT CORP. | UNITED STATES | OEM & Aircraft Manufacturers |
| 11/2013 | PAI PARTNERS | ADB SAFEGATE | BELGIUM | Aerospace, Naval & Defense |
| 07/2012 | TIKEHAU CAPITAL / IDIA CAPITAL INVESTISSEMENT | LMB AEROSPACE | FRANCE | Engines & Systems |
Other operations with MONTAGU PRIVATE EQUITY
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2026 | MONTAGU PRIVATE EQUITY | BMC HELIX | UNITED STATES | Data, Analytics & AI |
| 04/2026 | MONTAGU PRIVATE EQUITY | DQS | GERMANY | TIC (Testing, Inspection, Certification) |
| 12/2025 | MONTAGU PRIVATE EQUITY / Kohlberg | Teleflex Medical OEM | UNITED STATES | Medical Consumables |
| 06/2025 | MONTAGU PRIVATE EQUITY | Multifonds | LUXEMBOURG | Financial Services / Banking |
| 02/2022 | MONTAGU PRIVATE EQUITY / PARTNERS GROUP | HTL BIOTECHNOLOGY | FRANCE | CDMO |
| 07/2021 | MONTAGU PRIVATE EQUITY | INTECH MEDICAL | FRANCE | Implants & Prosthetics |
| 01/2021 | MONTAGU PRIVATE EQUITY | IMV TECHNOLOGIES | FRANCE | R&D Biotech |
| 03/2014 | MONTAGU PRIVATE EQUITY | Arkopharma | FRANCE | Nutrition & Dietary Supplements |
| 02/2014 | MONTAGU PRIVATE EQUITY | NEMERA | FRANCE | Medical Consumables |
REFERENCES
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 MONTAGU PRIVATE EQUITY 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: montagu private equity