The Carlyle Group to acquire ADB SAFEGATE
Global alternative asset manager, The Carlyle Group (NASDAQ:CG) announced on July 17 it has entered into a definitive agreement to acquire ADB SAFEGATE, a global airport performance solutions provider, from PAI Partners, alongside existing management of the company.
The transaction is expected to close in the second half of 2017 subject to customary requirements and regulatory approvals. Equity for the investment will come from Carlyle Europe Partners IV (CEP IV), a European-focused upper-mid market buyout fund. Further financial details of the transaction were not disclosed.
ADB SAFEGATE delivers intelligent solutions that support superior airport performance. The company designs, develops and produces systems, products and solutions for airfield ground lighting, aircraft docking guidance and air traffic control, complemented by a full range of integrated end to end services. The company’s ground-breaking solutions address critical challenges faced by airports globally, including congestion, operational complexity, environment and sustainability performance as well as digital disruption.
Christian Onselaere, CEO, ADB SAFEGATE, said: “We are grateful for PAI’s strong support as ADB SAFEGATE embarked on a journey of transformation towards a pro-active, consultative provider of integrated end to end Airport Performance Solutions. We are delighted and proud to continue this journey with Carlyle as a powerful partner. Together with Carlyle we will grow and further consolidate our position in the aviation industry while keeping the core values that made ADB SAFEGATE successful in the first place: passion, quality, leadership and care.”
You can read the full press release here.