PARIS, FRANCE: LACROIX announced the sale of its Road Signs Business Unit to the industrial investment company AIAC (American Industrial Acquisition Corporation).
LACROIX aims to become a global leader in industrial IoT solutions and electronic equipment for mission-critical applications by 2025.
Given the market trends, synergies between the Road Signs Business Unit and the rest of the Group were becoming too limited on both technological and commercial levels.
The desire to focus its investments on the strategic markets of industrial IoT and electronic equipment led LACROIX to announce its plan to sell the Road Signs Business Unit on February 8, 2023.
Road Signs, LACROIX’s historical core business, was the driving force behind its development until the early 2000s. The signing of this transaction marks a new step for the Group, and a turning point for the men and women of the Road Signs Business Unit as well as of LACROIX.
The ability to support the development of the Road Signs Buniness Unit has been at the heart of the discussions. This was a key criterion in the buyer’s choice.
AIAC, which focuses on long-term investment in industrial companies, presented a project that met this expectation, and its choice was favorably received by the social partners.
The Road Signs Business Unit involves 315 employees based at the Saint-Herblain industrial site (260 people), three distribution subsidiaries (Réunion Island, Mayotte and New Caledonia), and a presence in Spain, with a total revenue of €59 million in 2023, representing 7.8% of LACROIX’s revenue.
An action plan designed to create optimal conditions for development and integration within AIAC has been underway with the teams for over a year. LACROIX will continue to support AIAC during the transition period, particularly in certain support functions and through commercial relationships.
The deconsolidation of the Road Signs Business Unit will result in a limited book loss, but will have a positive impact on the net debt.
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