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HLD Group

Canaccord Genuity acted as Financial Adviser to HLD Groupon the acquisition of Photonis

Canaccord Genuity is pleased to announce that its client, HLDGroup, completed on 22 July 2021 the acquisition of Photonis (the"Company") from private equity funds Ardian. The transactionvalues the Company at c.€370m.

Photonis is a French manufacturer of tubes used to amplify lightmainly for night vision solutions, scientific detectors used in spaceexploration, and nuclear industry, and specific tubes for defenceapplications. The Company designs high-technology componentssold in products with both defence and commercial applications,generating c.€150m of sales in 2020. Photonis has a globalfootprint with four production plants: Brive (France), Roden (Netherlands), Lancaster (US) andSturbridge (US), which are key assets given country specific export regulation constraints ondefence-related products.

Canaccord Genuity has been instrumental in structuring a winning offer in a disposal processsurrounded by national sovereignty and political considerations and securing a c.€200m unitranchefinancing to guarantee the certainty of execution.
This transaction further reinforces Canaccord Genuity's credentials in defence industry as well as itsrelationships with private equity funds, namely HLD Group and Ardian.

Lead Transaction Banker

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