SAFEGATE INTERNATIONAL acquired by ADB SAFEGATE & PAI PARTNERS
Context
In February 2016, PAI Partners, through its portfolio company ADB Airfield Solutions, agreed to acquire Safegate from Fairford Group, which had owned the business since 1991. The transaction was designed to combine two highly complementary airport technology providers and create a global leader in advanced airfield guidance and airport operational systems. The acquisition significantly expanded ADB’s capabilities beyond airfield lighting by adding Safegate’s aircraft docking guidance systems, gate management solutions and air traffic control technologies. The combination brought together businesses serving more than 2,000 airports for ADB and over 1,300 airports for Safegate, creating a platform with a presence across more than 175 countries worldwide. The transaction represented a key milestone in PAI’s value creation strategy following its acquisition of ADB in 2013. By combining the two companies, PAI aimed to strengthen the group's technological leadership, broaden its solution offering and accelerate international expansion. The merged entity, rebranded as ADB SAFEGATE, was positioned to become a leading provider of integrated airport solutions spanning the entire aircraft journey from landing to parking. Rothschild acted as financial advisor to PAI. Fairford Group was advised by Evercore and deNovo Corporate Advisors as financial advisors and by Ashurst as legal advisor.
SAFEGATE INTERNATIONAL, which reported an EBITDA margin of [members only] in 2015, 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
Founded in 1973 and headquartered in Malmö, Sweden, Safegate is a leading provider of airport technology and airside operational solutions. The company offers an integrated portfolio of systems including aircraft docking guidance systems, gate management systems, airfield lighting solutions, and air traffic control technologies. Safegate serves more than 1,300 airports across over 130 countries worldwide, helping airport operators enhance safety, operational efficiency, passenger throughput and overall airside performance. The company is recognized for its strong innovation capabilities and extensive R&D expertise, enabling it to develop technology-driven solutions that address growing challenges related to airport congestion, traffic growth, operational complexity and environmental sustainability. Over the years, Safegate expanded its platform through several strategic acquisitions, including Thorn Airfield Lighting, Idman Airfield Lighting, Liberty Airport Systems, and Avibit, strengthening its position in airfield lighting, airport automation and air traffic management software.
Ent. Value
€100–200M
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
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| 11/2013 | PAI PARTNERS | ADB SAFEGATE | BELGIUM | Aerospace, Naval & Defense |
| 07/2012 | TIKEHAU CAPITAL / IDIA CAPITAL INVESTISSEMENT | LMB AEROSPACE | FRANCE | Engines & Systems |
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Other operations with ADB SAFEGATE / PAI PARTNERS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2017 | THE CARLYLE GROUP | ADB SAFEGATE | BELGIUM | Aerospace, Naval & Defense |
| 11/2013 | PAI PARTNERS | ADB SAFEGATE | BELGIUM | Aerospace, Naval & Defense |
| 06/2009 | MONTAGU PRIVATE EQUITY | ADB SAFEGATE | BELGIUM | Aerospace, Naval & Defense |
REFERENCES
Revenue range: €100–200M
EBITDA range: €10–30M
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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
Acquirer: pai partners / adb safegate