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Stirling Square Capital Partners acquires AD Industrie

December 2016

London, 19 December 2016 – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces the acquisition of AD Industrie SAS (“AD Industrie” or the “Company”).

AD Industrie is a leading French manufacturer of complex, critical sub-assemblies and components for the aerospace, defence, and energy markets. The Company was acquired for an undisclosed amount from majority owner Ingefin (a family holding company), and minority investors BPI France and GE Capital. The Company is headquartered in Paris and generates revenues in excess of €200 million. It employs more than 1,500 people across manufacturing facilities in France, Tunisia, and Morocco.

Since its creation in 2004, AD Industrie has developed unique capabilities in machining, sheet metal work, welding, heat treatment for large mechanical parts, complex forming, high-tech composite parts and hydraulic components. The Company possesses market-leading expertise in R&D, design, project management, and manufacturing of complex, critical sub-assemblies and equipment to original equipment manufacturers (including Safran, Rolls-Royce, Airbus, and Dassault, among others).

As part of the transaction Stirling Square has appointed Evrard Willemaers to the position of CEO. With more than 15 years of experience in aerospace, Mr. Willemaers joins AD Industrie from Precision Castparts Corporation Europe where he spent 9 years in various senior management positions.

Julien Horreard of Stirling Square commented, “This is a classic primary investment for Stirling Square, with the potential to institutionalise the business whilst continuing to pursue organic growth and international M&A. We are delighted to partner with Evrard and the deeply experienced AD Industrie management team, and look forward to supporting the Company in its expansion beyond France”.

Evrard Willemaers added, “AD Industrie has become a leading supplier of high precision engineered parts and sub-assemblies for aircraft, helicopter and engine original equipment manufacturers. This announcement marks the beginning of another exciting chapter in the history of the Company. Stirling Square has significant experience in supporting businesses with international growth ambitions and a proven track record in the aerospace sector”.
The transaction represents the sixth platform investment in Stirling Square’s third fund.

– ENDS –

 

Notes to Editors

About Stirling Square Capital Partners

Stirling Square Capital Partners was established in 2002 and is a pan-European private equity firm which invests in mid-market companies with enterprise values of between €50m and €500m. The firm manages three funds and a number of co-investment positions, totaling over €1bn of assets under management.

About AD Industrie SAS

AD Industrie is a leading French manufacturer of complex, critical sub-assemblies and components for the aerospace, defence, and energy markets.

For further information contact:

Fergus Wheeler, Jess Gill - FTI Consulting
Tel: + (44) 20 3727 1000
Email: fergus.wheeler@fticonsulting.com / jessica.gill@fticonsulting.com