France: The Carlyle Group has started talks with HGH Infrared Systems to acquire a majority stake in the specialist provider of infrared technology products. The proposed acquisition will be subject to customary employee consultations and regulatory approvals. The deal is expected to be completed by the end of 2018. No value for the deal has been disclosed.
“This potential partnership with Carlyle is excellent news for our customers. It will also help HGH to move to the next level and to build on our strong international growth trajectory,” said Thierry Campos, chief executive officer of HGH Infrared Systems. He added that Carlyle’s international reach and its experience in aerospace and defence, oil and gas and energy markets would further help to develop the company.
HGH was founded in 1982. It develops and sells optoelectronic and infrared systems and software for surveillance applications, test and measurement and industrial thermography in different end-markets. The company operates two research and development and assembly sites in the Optics Valley near Paris, France and in California, US. The company provides solutions to clients across 40 countries through two recognised brands HGH Infrared Systems and Electro Optical Industries (EOI).
