Paris-based investment firm Eurazeo PME announced that it has entered into an agreement to acquire 88% of Orolia SA alongside the founders and management for €20 per share or an enterprise value of approximately €100 million. Based in France, Orolia is a provider of reliable GPS-type signals, enabling the proper functioning of critical positioning, navigation, timing, and synchronization solutions. The company operates two divisions: Spectracom and McMurdo. Spectracom supports integration of resilient PNT technology to enable mission-critical applications and McMurdo provides end-to-end search & rescue and maritime domain awareness solutions. Orolia has a strong international presence with 80 percent of its revenues coming from outside of France including the US, UK, and Switzerland).
Orolia has trailing twelve month revenue of €97 million and EBITDA margins of 12 percent resulting in a revenue multiple of 1.0x and EBITDA multiple of 8.3x.
Erwann Le Ligné, Managing Director of Eurazeo PME, states: “We will be pleased to assist Orolia in accelerating its growth and pursuing its market consolidation, particularly at the international level. We also wish to help strengthen the
company’s ability to roll out its offering on promising markets and to structure and reinforce its organization, through the support of our Corporate teams, particularly in CSR areas.”
The deal is expected to close in April subject to closing conditions including the granting of regulatory authorizations in the US.
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