Luxembourg stock exchange listed private equity firm Luxempart on Monday said it entered into an investment agreement that will give it a stake of approximately 26 percent in Kestrel Vision for about 110 million euros.
Lyon, France-based Kestrel is a global specialist in machine vision tools that support quality control and inspection solutions for the rigid packaging industry, mainly for the food & beverage, pharmaceutical and cosmetic sectors. Kestrel has annual sales of more than 260 million euro, and generated more than 40 million in operating income. Its technology is instrumental for technologies deployed in the fourth industrial revolution.
Caravelle
Luxempart will join existing Kestrel shareholders such as French family-owned investment firm Caravelle and the firm’s management. Caravelle fist invested in Kestrel in 2017 and since then has helped the firm realise a number of transformative and strategic acquisitions, significantly strengthening its global presence and market position. Luxempart provides capital to reinforce the Group’s future means to pursue such strategy, it said.
The transaction’s completion, which remains subject to customary regulatory approvals, is expected for late March 2023.
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