Gantner sponsor Ardian taps GCA Altium for sale – sources

31 January 2020

Private equity firm Ardian has appointed GCA Altium to sell portfolio company Gantner in a process expected to launch before the end of 1H20, three sources familiar with the situation said. The Austrian electronic security system manufacturer will be marketed off an EBITDA figure of around EUR 17m, according to two of the sources and a fourth source familiar with the matter.

 

Private equity firm Ardian has appointed GCA Altium to sell portfolio company Gantner in a process expected to launch before the end of 1H20, three sources familiar with the situation said.

 

The Austrian electronic security system manufacturer will be marketed off an EBITDA figure of around EUR 17m, according to two of the sources and a fourth source familiar with the matter.

 

Gantner has grown well and now has “high double-digit revenues,” one of the sources said. According to the company’s website, the number of employees stands at around 400.

 

At the time of Ardian’s acquisition in 2016, the company employed around 200 staff and generated revenues of EUR 36m in the previous year. More than 70% of revenues were generated in Europe.

The French sponsor drew equity for the deal from its lower mid-market fund, Ardian Expansion Fund III – a EUR 500m vehicle that closed in 2014. Commerzbank advised the bidder, while GCA Altium advised the vendor during the transaction.

 

Gantner has made two acquisitions since its founding: it acquired IT solutions provider directonline in 2014 and completed the bolt-on of Belgian peer Syx Automations in 2017, according to its website.

 

The firm, which is headquartered in Schruns, Austria, manufactures contactless RFID and NFC access control and staff time recording systems that facilitate automatic identification.

Its systems can be found in leisure facilities such as fitness clubs, water parks, public pools and spas, as well as in commercial and public buildings. It also makes solutions for cashless payments, as well as for high security access control.

 

Gantner was founded in 1982 and operates in 60 countries globally.

 

Gantner and GCA Altium did not respond to requests for comment. Ardian declined to comment.

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