MBI/MBO of leading commercial vehicle lighting equipment and systems manufacturer
Vignal is the leading commercial vehicle lighting equipment and systems manufacturer in Europe. Customers include Renault, Iveco, DAF and MAN as well as being a leading supplier to the European trailer market. The business employs around 200 staff and was formerly part of the Valeo Group.
Vignal is a company with a fantastic reputation in the truck industry for quality and innovation and whilst it has a major share market it is responding to strong market competition in Europe via an aggressive technical and commercial pan-European product strategy. We are extremely confident that the management team has the means, the opportunity and the determination to focus on using its strong market position to further develop new global markets with a range of new and exciting innovative products and services tailored to the needs of the truck and trailer market.
Jeremy Marshall, Non-Executive Director
Orbis worked with the management team to acquire Vignal from its parent company, French automotive giant Valeo in deal worth just under £15m.
Orbis initiated discussions with funders in the UK and France. We were able to bring our sector experience in the European automotive sector to the table.
- Worked with the management team to understand the business
- Developed a detailed three-year cash flow forecast and business plan
- Developed an appropriate funding structure and approached relevant banks and investors
- Led the review of the financial due diligence on behalf of management/investors
- Worked alongside the business’ tax advisor to ensure the transaction was structured and completed in the most tax efficient manner
- Worked alongside the legal team to negotiate suitable legal agreements
Funding for the transaction was provided by 3i Lyon with syndicated partners Finavance and Sudcapital. The full debt package was underwritten by Barclays Leveraged Finance Paris.