“This potential partnership with Carlyle is excellent news for our customers. It will also help HGH to move to the next level and to build on our strong international growth trajectory. (...)" Thierry Campos, CEO at HGH Infrared Systems
PARIS and IGNY, France (PRWEB) May 18, 2018
Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces it has entered into exclusive discussions with HGH Infrared Systems (HGH) to acquire a majority stake in the specialist provider of infrared technology solutions, alongside management.
The proposed transaction will be subject to customary employee consultations and regulatory approvals. Equity for the transaction will be provided by Carlyle Europe Technology Partners III and it is expected to close in Q3/4 this year.
Founded in 1982 and headquartered in Igny, France, HGH develops and sells innovative optoelectronic and infrared systems and software for surveillance applications, test & measurement and industrial thermography to blue-chip customers in different end-markets. In particular, HGH offers a range of high-end solutions for surveillance applications in the security, defense, oil & gas and energy industries with its “Spynel” line of panoramic detection systems and “Cyclope” software for wide area surveillance. Other solutions include equipment for electro-optical systems calibration & testing as well as thermal scanners and pyrometric cameras for remote temperature and combustion monitoring. HGH operates two R&D and assembly sites in the Optics Valley near Paris, France and in California, USA. The company provides solutions to clients across 40 countries through two recognized brands HGH Infrared Systems and Electro Optical Industries (EOI).
Thierry Campos, CEO of HGH Infrared Systems, said: “This potential partnership with Carlyle is excellent news for our customers. It will also help HGH to move to the next level and to build on our strong international growth trajectory. Through significant investment in R&D, we have positioned our company as a technology leader and we have acquired major customer references in a number of markets. Carlyle’s global footprint and scale as well as its experience and networks in the aerospace & defense, oil & gas and energy markets will help us to further develop the company’s international presence and to broaden our blue-chip customer base.”
Vladimir Lasocki, Managing Director and co-Head of the Carlyle Europe Technology Partners team, commented: “Demand for wide area surveillance technologies is accelerating across all geographies, with increasingly sophisticated needs for the surveillance of critical infrastructure. HGH has become a reference in its markets and has built a solid foundation for future growth. In particular, HGH has developed a unique proposition with the Spynel, enhanced by its proprietary software for image processing and analysis allowing it to detect and see several targets at the same time at 360-degrees. We believe Carlyle can provide a platform for growth to HGH and look forward to working on the next phase of growth of the company.”
Cyril Bourdarot, Associate Director on the Carlyle Europe Technology Partners team, said: “We are impressed by HGH’s strong track-record and scalable business model. Over the past few years, HGH has experienced sustained double-digit growth, driven by the company’s outstanding technology solutions, software capabilities and customer-centric approach. We believe there will be significant future demand for HGH’s proprietary technologies and we are excited to partner with Thierry and his team to support the business as it looks to expand and increase growth across different commercial end-markets.”
About HGH Infrared Systems:
HGH Infrared Systems has been an expert in infrared technology for over 30 years. Since 1982, HGH designs, develops, assembles and sells electro-optics systems and software for security, defense, oil & gas, energy and various industrial applications. The company has established itself as an international reference in terms of innovation in infrared technology, through the development of multiple advanced sensors, systems and proprietary software.
HGH Infrared Systems’ Head Office is located in Igny near Paris, in the heart of the French Optics Valley, where the most well-known research laboratories and companies are based.
+331 69 35 47 70
About the Carlyle Group:
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents.
About Carlyle Europe Technology Partners:
Carlyle Europe Technology Partners (CETP) seeks to invest in European technology, media and telecommunications (TMT) companies. CETP’s European team of advisors provides strategic direction and resources to help accelerate the growth of companies in which CETP has invested and to support their efforts to expand internationally and to open up new market opportunities. The current fund is now the fourth one in the CETP franchise. In total, more than 143 investors from 34 countries have made commitments to CETP funds.
Daphné CLAUDE & Dominic RIDING
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