Transactions > may 2024
Seller and Buyer
The group develops sustainable living ecosystems through electronic equipment and connected technologies
The Electronics activity designs and manufactures solutions for industrial IoT (hardware, software, and cloud) and AI
Buyer
AIAC is a diversified industrial holding company with manufacturing and distribution sites in 24 countries across North America, Europe, and Asia. AIAC specializes in the acquisition of non-strategic subsidiaries and divisions from Groups (Boeing, Siemens, Raytheon, Johnson Controls, Merck…)
Context and Objectives
LACROIX aimed to refocus on its businesses with strong technological synergies, in order to achieve its ambition of becoming a global leader in industrial IoT solutions and electronic equipment for critical applications in the coming years.
The Oneida team advised the Lacroix Group on the sale of the Signaling BU, particularly regarding transaction preparation, the communication plan, and the search for a strategic buyer.
Results
Negotiations began on December 14, 2023, under an exclusivity agreement.
On April 30, 2024, LACROIX finalized the divestment of its Signaling BU to the holding company AIAC (American Industrial Acquisition Corporation). As of this date, the Signaling BU is no longer included in the Group’s consolidation scope.
LACROIX will continue to support AIAC during the transition period, particularly for support functions and commercial relations.
Key Features of the Transaction
€59M
Annual Revenue of the Signaling BU
315
Employees
7.8%
Share of Lacroix Group Revenue
Oneida Mission
Support for the seller at all stages of the process and in coordinating exchanges between supporting advisors.
Oneida Partner in Charge:
Benoit Parnet, Partner, M&A Recovery Solutions
Emmanuel Dampoux, Partner, M&A
Danièle Boré, Partner, Social Engineering and Communication
