Alantra Private Equity has supported SALTO Systems (“SALTO”), a leading manufacturer of electronic access control solutions, to acquire Gantner Electronic Austria Holding GmbH (“Gantner”). Gantner is a specialist in electronic access, ticketing and billing systems as well as smart locks for lockers.
The transaction was financed by a combination of capital increase, bank financing and cash. The agreement entails (i) the divestment of Alantra’s existing stake in SALTO and (ii) the subscription of a €125 million capital increase to finance the acquisition of Gantner. The transaction has been subscribed by ALANTRA (through Alantra’s latest fund ALANTRA PEF III) and new investors such as SOFINA, PENINSULA CAPITAL, and FLORAC. Financial investors will hold a combined 30% stake in SALTO, with the remainder retained by SALTO’s founding members and managers (60%) and private investors (10%).
SALTO and Gantner will have a combined workforce of 1,200 employees in 40 countries, including more than 230 dedicated to R&D, a turnover of €260 million and over a million access points delivered each year, enabling the group to consolidate its position as a global leader in electronic access control.
“We are very excited about the outcome of this transaction, since it will allow us to renew the partnership with SALTO’s management and the rest of its shareholders as the company continues its growth ambitions to become the leading provider of electronic access control solutions”, Gonzalo de Rivera, CEO of Alantra’s Private Equity division, said.