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  5. Ardian and Astorg Partners Acquire Audiotonix

M&A Deal Summary

Ardian and Astorg Partners Acquire Audiotonix

On December 16, 2019, private equity firms Ardian and Astorg Partners acquired electronics company Audiotonix from Astorg Partners

Acquisition Highlights
  • This is Ardian’s 5th and Astorg Partners’ 2nd transaction in the Electronics sector.
  • This is Ardian’s 24th and Astorg Partners’ 4th transaction in the United Kingdom.
Investment Fate
  • Audiotonix was sold to a consortium of financial buyers in 2024.

M&A Deal Summary
Date 2019-12-16
Target Audiotonix
Sector Electronics
Buyer(s) Ardian
Astorg Partners
Sellers(s) Astorg Partners
Deal Type Secondary Buyout

Target

Audiotonix

Chessington, United Kingdom
Audiotonix designs, engineerings, and manufactures professional audio mixing consoles, production software, and ancillary products. With pioneering solutions from premium audio brands Allen & Heath, Calrec, DiGiCo, DiGiGrid, Fourier Audio, Harrison, KLANG: technologies, Slate Digital, Solid State Logic, sonible, and Sound Devices, its products are used extensively in live sound, broadcast, theatre production, installations, houses of worship, TV and film production, music creation and recording studios. Audiotonix is based in Chessington, United Kingdom.

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Buyer(S) 2

Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €1 billion per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 367 of 465
Sector: Electronics M&A 5 of 7
Type: Secondary Buyout M&A Deals 115 of 155
Country: United Kingdom M&A 24 of 27
Year: 2019 M&A 31 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-13 Palex

Barcelona, Spain

Palex is a distributor of sanitary equipment and advanced hospital solutions. It has a wide portfolio of specific hospital equipment and equipment for more than 40 medical specialties, from fungible material to sophisticated diagnostic, treatment, and laboratory equipment. Palex was founded in 1955 and is based in Barcelona, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-19 Cerelia

Paris, France

Cerelia is a provider of innovative bakery solutions with a product portfolio including ready-to-bake pie and pizza dough, pancakes, crepes, and cookies. Cerelia was founded in 1999 and is based in Paris, France.

Buy -
Buyer

Astorg Partners

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 22.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Astorg Partners is a private equity firm that targets small to midcap company investments primarily in France and to a limited extent, Western Europe. Astorg Partners looks for companies valued between €400 million and €2 billion, requiring at least €15 million in equity. Areas of interest include healthcare, retail, distribution, hospitality, and professional services. Prospective transaction situations include leverage build-ups, divestitures, family transitions, and secondary buyouts. Astorg Partners was formed in 1998 and is based in Paris and has additional offices in London and Luxembourg.

DEAL STATS #
Overall 45 of 69
Sector: Electronics M&A 2 of 3
Type: Secondary Buyout M&A Deals 21 of 38
Country: United Kingdom M&A 4 of 11
Year: 2019 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-21 LGC Group

Teddington, United Kingdom

LGC Group is an international life science measurement and testing company. LGC provides a range of measurement products and services that underpin the safety, health, and security of the public, including reference materials and proficiency testing, genomics reagents and instrumentation, and expert sample analysis and interpretation. LGC Group was founded in 1842 and is based in Teddington, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-24 Normec

Utrecht, Netherlands

Normec is active in the field of testing, inspecting, certification, and compliance mainly in the Netherlands, Belgium, and Germany. Normec assesses and supports the quality and safety of materials, systems, and products by conducting independent audits, tests, and inspections based on accredited methods. As an independent organization, the work of Normec includes taking care of the quality and safety of their clients’ materials, systems, and products. Normec operates in the Life Safety & Environment and Food & Agriculture segments. Normec was formed in 2015 and is based in Utrecht, Netherlands.

Buy -

Seller(S) 1

SELLER

Astorg Partners

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 22.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Astorg Partners is a private equity firm that targets small to midcap company investments primarily in France and to a limited extent, Western Europe. Astorg Partners looks for companies valued between €400 million and €2 billion, requiring at least €15 million in equity. Areas of interest include healthcare, retail, distribution, hospitality, and professional services. Prospective transaction situations include leverage build-ups, divestitures, family transitions, and secondary buyouts. Astorg Partners was formed in 1998 and is based in Paris and has additional offices in London and Luxembourg.

DEAL STATS #
Overall 26 of 35
Sector: Electronics M&A 1 of 2
Type: Secondary Buyout M&A Deals 15 of 22
Country: United Kingdom M&A 1 of 2
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-21 LGC Group

Teddington, United Kingdom

LGC Group is an international life science measurement and testing company. LGC provides a range of measurement products and services that underpin the safety, health, and security of the public, including reference materials and proficiency testing, genomics reagents and instrumentation, and expert sample analysis and interpretation. LGC Group was founded in 1842 and is based in Teddington, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-24 Normec

Utrecht, Netherlands

Normec is active in the field of testing, inspecting, certification, and compliance mainly in the Netherlands, Belgium, and Germany. Normec assesses and supports the quality and safety of materials, systems, and products by conducting independent audits, tests, and inspections based on accredited methods. As an independent organization, the work of Normec includes taking care of the quality and safety of their clients’ materials, systems, and products. Normec operates in the Life Safety & Environment and Food & Agriculture segments. Normec was formed in 2015 and is based in Utrecht, Netherlands.

Buy -
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