SALTO Systems (SALTO), a manufacturer of electronic access control solutions, has acquired Gantner Electronic Austria Holding (Gantner). With a combined workforce of 1,200 employees in 40 countries, including more than 230 dedicated to R&D, a turnover of EUR260 million and over a million access points delivered each year, the combined group consolidates its position as a global leader in electronic access control.
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 EUR125 million capital increase to finance the Gantner acquisition, both transactions have 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 per cent stake in SALTO, with the remainder retained by SALTO’s founding members and managers (60 per cent) and private investors (10 per cent).
“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,” says Gonzalo de Rivera, CEO of Alantra’s Private Equity division.