Private equity firm IK Investment Partners is selling components manufacturer Exxelia Group to HLD Europe.
Exxelia develops and manufactures complex passive components and electromechanical systems for niche industrial markets such as aeronautics, space, defence, medical and rail.
Its clients include institutional clients, systems and equipment manufacturers. Exxelia's products are used in programmes including the Airbus A350 and Boeing 787 Dreamliner, the Ariane 6 launcher, satellite constellations, subway coaches, high-speed trains and medical equipment such as MRI machines and defibrillators.
Exxelia is expected to have a proforma revenue of around €170 million (£143.6 million) for 2019 and employs 2000 people across 30 countries.
The firm’s management will reinvest alongside HLD Europe.
Paul Maisonnier, CEO of Exxelia, said: “I am delighted to embark on a new stage of development with our new shareholders, with whom we share the same vision. Together, we aim to strengthen Exxelia’s unique “one-stop-shop” by offering high-reliability custom products combined with a strong capacity for innovation.”
Dan Soudry, Managing Partner at IK Investment Partners and advisor to the IK VII Fund, added: “As shareholders of Exxelia since 2015, we are very pleased to have supported the various stages of transformation and growth of the Group, through a deep structuring phase led by the management team and an ambitious growth strategy.”
