LMB Aerospace's sale process in 2nd round

The sale of LMB Aerospace, a French manufacturer of fans and cooling devices for civil and military aeronautical industries, has moved into the second round of an auction process with Amala Partners advising the sell side, according to market sources.

The company is marketed off €13 million of EBITDA, the sources said. Banks and direct lenders are looking at the deal, and leverage levels are touted to amount to 5x for banks and 5.5x for direct lenders, the sources said. The fact that the company is providing the military industry with cooling devices could raise some concerns for buyers and lenders.

In 2018, Raise bought a majority stake in the company from MBO & Co., which reinvested in the company. Arkea acquired a minority stake and the management too. A senior package was provided at the time by LCL and CIC Sud Ouest to finance the deal.

LMB was founded 60 years ago and is headquartered in Malemort sur Correze, France. It designs and manufactures electric fans, blowers and motors for the aerospace, defense and marine industries with applications in aircrafts, helicopters, pods, ground military vehicles, navy and railway.