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Livingstone Partners LLP is regulated by the FSA
website by Hughes Media
Livingstone Partners is an international investment banking organisation,
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Livingstone parks another deal for Hallmark
March 2011
Livingstone Partners have advised Hallmark Industries and the shareholders of ZEAG Group (‘ZEAG’) on the sale of the business to Italian Group FAAC SpA (‘FAAC’). Headquartered in Zurich, Switzerland, ZEAG Group was ultimately owned by trans-Atlantic private equity firm MML Capital Partners, through its Hallmark Industries portfolio company.
ZEAG develops and assembles car parking equipment and systems, providing both new products and aftersales service and support. Typical clients include airports, hospitals, shopping centres and public car parks. ZEAG is an international business with subsidiaries in the UK, USA, Canada and South Africa, and a network of global distributors.
Bernard Lacoste, CEO of ZEAG, commented: “We are excited to join the FAAC Group, and we believe that its international coverage, made up of 15 sales and service offices in all key markets, will represent a boost for ZEAG growth in those markets where ZEAG currently does not have a direct presence. The FAAC and ZEAG combination will release additional business potential starting this year.”
Ian Wallis, Managing Partner of MML Capital in the UK, added “This is a good result for all of the stakeholders involved. It is a strong exit for Hallmark and MML at a suitable multiple, and I am sure ZEAG will perform well under the stewardship of FAAC. We acknowledge Livingstone’s key support throughout the process.”
James Lever, Partner at Livingstone Partners, said: “We are delighted to have continued our successful relationship with Hallmark Industries and MML Capital, in completing our second divestment for them in two months.”
Alex John, Deal Leader at Livingstone Partners, added: “There are obvious synergistic benefits of this deal for both FAAC and ZEAG. ZEAG will enable FAAC to broaden its offering in the parking systems sector, and offer their respective clients a more complete ‘one-stop’ solution.”
For further information contact:
James Lever, Partner
Tel: 020 7484 4711
Email: lever@livingstonepartners.co.uk
Alex John, Deal Leader
Tel: 020 7484 4712
Email: john@livingstonepartners.co.uk