Carlyle agrees to buy ADB Safegate

Business 7/17/2017, 1:29 PM
Carlyle agrees to buy ADB Safegate

A Belgian lighting systems operator which used to be controlled by Siemens will become part of the Carlyle Group LP, including management. The private equity and alternative assets firm said on Monday that it struck a deal to acquire ADB Safegate. The sum wasn't disclosed, but the media speculates it is in a $1 billion range. The target company, which works with transportation facilities including airport runways and docks, was founded last year when PAI Partners merged ADB and Safegate International.

The current owner purchased the former four years ago from Montagu for $208 million. The investment manager has taken it over from the German engineering giant in 2009. Carlyle, based in Washington DC, expects to execute the transaction before the end of the year.

"We are very impressed with ADB Safegate’s longstanding performance and in particular by its growth through strategic acquisitions. We welcome the opportunity to support the ADB Safegate’s management team’s goal to become the global solutions provider of choice for airports around the world," said Jonathan Zafrani, managing director of Carlyle Europe Partners.

TeleTrader Newsroom / IT


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