Lectra SA (ENXTPA:LSS) entered into a memorandum of understanding to acquire Gerber Technology LLC from American Industrial Partners Capital Fund VI, L.P. managed by AIP, LLC for approximately €300 million on February 8, 2021. The parties entered into an agreement on March 25, 2021. The consideration is on a cash-free debt-free basis for an upfront payment of €175 million through a combination of cash and debt plus 5 million newly issued Lectra shares to AIPCF VI LG Funding, LP, an affiliate of American Industrial Partners that is Gerber Technology’s sole shareholder. Upon conclusion of the transaction, Daniel Harari would hold 14.6% of Lectra’s shares and AIPCF VI LG would hold 13.3%. The transaction will be financed through a €140 million loan underwritten by three banks and Lectra’s available cash. Additionally, the cash portion of the Gerber Technology acquisition price (175 million euros) will be funded by the Group's cash resources and by debt. A director representing AIPCF VI LG will be welcomed as Lectra’s Board of Directors. Daniel Harari would continue to be the Chairman and Chief Executive Officer of Lectra. Gerber Technology Chief Executive Officer, Mohit Uberoi, would assume special advisor to Daniel Harari role until end-2021. Gerber Technology’s revenues was €165 million in 2020. Extraordinary shareholders meeting is currently expected to be held on April 30, 2021. The transaction is subject to merger control clearance and other customary conditions and shall be submitted to Lectra shareholders for approval. The transaction is subject to clearance by the American regulatory authority, who is expected to render its decision by April 26, 2021. The transaction is expected to close in second quarter of 2021. As of March 25, 2021, the transaction has been approved by Board of Lectra. As of May 27, 2021, Lectra has obtained the US Federal Trade Commission following the early expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Lectra expects the transaction to be accretive for shareholders from 2022. Lazard served as a financial advisor and Olivier du Mottay, Eyal Orgad, Jocelyn Noll, Adam Kestenbaum, Jeremiah Wolsk, Robert Blamires, Kyle Jefcoat, David Langer, Eric Volkman, Jim Barker, Mandy Reeves, Jonathan Parker, Peter Todaro, and Rita Motta of Latham & Watkins LLP served as a legal advisor for Lectra. Goldman Sachs served as a financial advisor to AIPCF VI LG, and Bob Rivollier, Daniel Evans, Elizabeth Todd, Alexandra Alperovich, Megan Bisk, Elaine Murphy, Adam Greenwood, Andy Howard, Stefanie Birkmann, Ama Adams, Randall Bodner and Peter Alpert of Ropes & Gray LLP, Paul Cuomo, Adam Dawson, Christine Ryu-Naya, Michael Bodosky, Roxanne Tonnelier, Catriona Hatton of Baker Botts LLP and Antoine Tézenas du Montcel, Foulques de Rostolan and Magali Buchert of Gide Loyrette Nouel A.A.R.P.I. as legal counsels to AIPCF VI LG.