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PAI Partners puts stake in Belgium’s ADB Safegate up for sale, say sources: Reuters

Private equity fund PAI Partners has put its majority stake in Belgian specialist lighting company ADB Safegate up for sale and mandated Credit Suisse and Rothschild to find a buyer, sources close to the matter said on Thursday.

ADB Safegate, which makes lighting systems for airport runways and was previously known as ADB Airfield Solutions, is valued at around 700 million euros ($778 million), the sources told Reuters.

Credit Suisse declined to comment, while PAI Partners and Rothschild had no immediate comment.