US-based Burle Industries has finally been acquired by AXA Private Equity’s Photonis Holding, a Franco-Dutch manufacturer of imaging sensors. Burle is specialised in the field of photo detection.
Photonis Holding, a 76% participation of AXA Private Equity, has acquired 100% of Burle, a global manufacturer and supplier of specialised electron tubes and electro-optic products.
Photonis Holding acquired Dutch company DEP BV to form Photonis-DEP earlier this year, reinforcing significantly its position in the image intensifier tubes market.
AXA Private Equity acquired Photonis in 2001 in a secondary buyout. In March 1998, Barclays Private Equity and Parconexi had acquired Photonis from Philips Composants.
In the latest transaction, Photonis Holding and AXA Private Equity received legal advice from Sokolow Carreras & Associés, De Pardieu Brocas Mafféi & Leygonie. They were advised on due-diligence by Arthur D-Little, while financial advice was given by E&Y, URS and Gras Savoye.
The vendors were advised by Mc Coll Partners, while Morgan Lewis Philadelphia provided legal advice. Senior debt financing came from Fortis Banque France and IKB, which were advised by SJ Berwin.