Montagu Private Equity, a leading pan-European Private Equity firm, has completed the acquisition of ADB from Siemens AG. The total debt package of €73m was financed by Bank of Ireland, WestLB, Siemens Financial Services, Fortis and KBC Bank. Further terms of the transaction remain confidential.

Founded in 1920, ADB is the world leader in airfield lighting. The group supplies products, systems and services for the visual guidance of aircrafts across the world. Its client base of over 2,000 airports includes Paris, Heathrow, Atlanta, Chicago, Moscow, Shanghai, Singapore, Johannesburg and Buenos Aires.

With Montagu's active support, management will develop the group internationally, continue to fund investment in R&D, and further improve customer service. ADB's new subsidiary in China will be key to this strategy. Montagu intends to support ADB in seizing any external growth opportunities that would accelerate the group's development or consolidate its technological leadership.

Christian Onselaere, CEO of ADB, said: "We are proud of our 20 year shared history with Siemens. During this time, ADB expanded its world-wide coverage and continuously improved on operational performance. As a result, ADB is now the undisputed global market leader in airfield solutions.

We are excited about working with our new shareholder Montagu in continuing to provide our customers with innovative, high-quality products and solutions that improve safety and reduce operational and environmental costs, supported by the highest levels of customer service."

Sylvain Berger-Duquene, Director at Montagu, continued: "The acquisition of ADB fits with Montagu's traditional investment philosophy. ABD is a quality group, offering mission-critical products and services to a sector with favourable long-term trends. The growing need for airport infrastructure and the ever-increasing demands for safety across the world are robust drivers serving ADB's growth. We are thrilled to be working with a seasoned and energetic management team who are eager to accelerate the group's development".