Electronic equipment manufacturer Lacroix announced on Monday that it had reached an agreement with US investment firm AIAC for the sale of its signaling business.

The deal comes at a time when the French group is seeking to focus on the strategic markets of industrial Internet of Things (IoT) and electronic equipment.

Lacroix's historic business, signaling, was the driving force behind the company's development until the early 2000s, but accounted for just 7.8% of sales last year.

The activity, which employs 315 people across the Saint-Herblain industrial site, three distribution subsidiaries and a presence
in Spain, generated annual sales of 59 million euros in 2023.

The French group, which had unveiled its disposal project last month, specifies that the operation should be effective during the second quarter.

Lacroix specifies that the deconsolidation of the signalling segment will result in a limited book loss, but will have a positive impact on its net debt.

American Industrial Acquisition Corporation (AIAC) is a diversified industrial holding company with interests in major companies such as Boeing, Siemens, Merck, Pfizer, Suez, Rexel and Vallourec.

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