Jean-Hubert Vial, partner at Groupe HLD, commented, “By remaining the majority shareholder of Exosens, HLD demonstrates its confidence and commitment to continue supporting Exosens and its management within a strengthened governance framework.”
French investment bank Bpifrance bought €46 million in new shares during the fundraising program. Other buyers included mutual fund CDC Tech Premium, investor Janus Henderson UK Ltd., and investment adviser WCM Investment Management LLC.
Exosens indicated that the fundraising might be increased to €402.5 million if an over-allotment option is exercised in full.
Exosens, created as a subsidiary of Dutch electronics company Philips in 1937, offers products through its Photonis, Xenics, Telops, and El-Mul brands.
BNP Paribas, Citigroup, and J.P. Morgan SE are acting as joint global coordinators. Crédit Agricole Corporate and Investment Bank, Natixis, and Société Générale are acting as joint bookrunners.
Cleary Gottlieb Steen & Hamilton LLP is acting as legal adviser to the banks. Lazard is serving as an independent financial adviser to Exosens.
