- PRESENTATION -
Paris, December 19th, 2018 : Eurazeo PME announces the sale of Vignal Lighting Group
Eurazeo PME, Eurazeo’s division specializing in medium-sized companies, announces the effective sale to EMZ Partners of its investment in Vignal Lighting Group, global leader in lighting for on and off-road specialty vehicles.
With Eurazeo PME as its majority shareholder, Vignal Lighting Group has conducted its significant transformation from an European player in signaling for trucks and trailers to the global leader in lighting for on-road and off-road specialty vehicles. The acquisition and integration of ABL Lights (2014) and CEA (2016) have allowed the group to offer comprehensive and complementary product ranges on diversified end-markets (trucks, construction, mining, handling, agriculture) and geographies (Europe, Americas, Asia) both in OEM and aftermarket segments. Since 2014, the group has sped up its international expansion, benefitting from significant cross-selling between product ranges and set-up of a direct presence in the US and in Asia. Supported by Eurazeo PME, the group has invested in its industrialization across the three continents, with a new 11,500 sqm industrial and R&D center in Corbas and the opening of a new plant in China. The group’s turnover more than doubled over the period from €47M in 2013 to €106M in 2017.
The transaction generates sales proceeds of €119M for Eurazeo PME, including the 2016 repayment of the bonds for €27M, representing a multiple of 2.8x its initial investment and an internal rate of return of 28%.