VIGNAL GROUP acquired by EMZ PARTNERS
Context
The sale of Vignal Lighting Group to EMZ Partners marks a significant milestone in the company's history. The transaction is the result of a strategic review process initiated by Eurazeo PME, which had been the majority shareholder of Vignal Lighting Group since 2014. During its ownership period, Eurazeo PME supported the company's significant transformation from a European player in signaling for trucks and trailers to a global leader in lighting for on and off-road specialty vehicles. The company's expansion was driven by a combination of organic growth and strategic acquisitions, including the acquisition of ABL Lights and CEA. The sale to EMZ Partners is expected to provide Vignal Lighting Group with the necessary resources and support to continue its growth and expansion plans. The transaction is also expected to generate significant proceeds for Eurazeo PME, which will be used to fund future investments and support the growth of its portfolio companies. The deal highlights the attractiveness of the specialty lighting market and the potential for growth and consolidation in the sector.
In the past, the company underwent an LBO led by Eurazeo in 2014, and continued an active consolidation strategy by notably acquiring Abl Lights (2014).
VIGNAL GROUP, which reported an EBITDA margin of in 2018, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Industry & Manufacturing sector (11.5x).
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Target
Vignal Systems is a French company founded in 1919, specializing in the design, manufacture, and marketing of signalization products, particularly for trucks. With over 40% market share in rear signalization for trucks in Europe, the company enjoys a strong leadership position. Vignal Systems has consolidated its position through recognized industrial expertise, a permanent innovation approach driven by an experienced R&D team, and a top-tier management culture. The company benefits from a resilient business model and an organization that allows it to absorb market cycles. Vignal Systems employs 230 people across its sites in Vénissieux and Corbas, and has a significant international presence, with over 70% of sales generated outside of France. The company's product portfolio includes a range of signalization solutions, and it has been investing in the transition from traditional bulbs to LED technology. With a strong reputation in its sector, Vignal Systems is well-positioned to continue its growth trajectory, driven by its expertise, innovation, and internationalization strategy.
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Historical Financials (EUR)
Other operations with VIGNAL GROUP
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 04/2014 | VIGNAL GROUP | ABL LIGHTS | FRANCE | Auto Parts & Systems |
| 02/2014 | EURAZEO | VIGNAL GROUP | FRANCE | Auto Parts & Systems |
REFERENCES
Revenue range: 100M - 200M EUR
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Press release: view release
Target: vignal group
Acquirer: emz partners