Views Article – Sharenet Wealth

Europe, News

French fund HLD Europe in talks to buy control of Exxelia

PARIS, Jan 22 (Reuters) – French investment fund HLD Europe has entered into exclusive negotiations with London-based IK Investment Partners to buy a majority stake in Exxelia, a manufacturer of components in the space and defence industries, the companies said on Wednesday.

HLD Europe’s planned purchase of Exxelia would give the company an enterprise value of around 500 million euros ($553.85 million), a source with knowledge of the deal told Reuters.

Exxalia’s products are commonly used for power electronics, power generation and energy storage in areas such as aviation, defense, space, medical, railway, oil and gas and telecommunications.

The company’s 2019 revenues are expected to be around 170 million euros. ($1 = 0.9028 euros) (Reporting by Benoit Van Overstraeten; Editing by Sarah White)

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.