AIAC ACQUIRES THE LACROIX ROAD SIGN MANUFACTURING AND SERVICE BUSINESS
May 1, 2024 – Paris, France An affiliate of AIAC acquired the Lacroix Road Sign Manufacturing Unit from the Lacroix Group SA, following its obtaining formal union and anti-trust approval. The leader in its sector, the Lacroix Road Signs Business serves 4,000 global customers, including small, medium, and large municipalities, highway operators, departments, regions, road equipment rental companies, and road builders with road, highway, and building signage products.
Lacroix Group divested the Road Signs Manufacturing Business in order to better focus on its objective to become a global leader in industrial IoT solutions and electronic equipment for mission-critical applications by 2025. The Road Sign Business was the historical core business of Lacroix, and was the driving force behind its development until the early 2000’s.
AIAC’s history of long-term investment in industrial companies met Lacroix Group’s desire to find a strong and reliable buyer for its Road Signs Business. AIAC’s bid was favorably received by its employees and managers.
The Road Signage Business has five manufacturing and service operations, with the headquarters in Saint-Herblain, near Nantes, France. In addition, the Business includes the Spanish operation based in Zamudio, near Bilbao, and finishing and distribution subsidiaries in three French territories, Réunion Island, Mayotte and New Caledonia.
An action plan was designed to create optimal conditions for the profitable growth of the business and the smooth separation from the Lacroix Group. The Lacroix group will continue to support the Road Signage Business during the post-completion transition period, particularly in specific technical support functions.
AIAC Chairman L. M. Levie commented “AIAC is immensely proud of this prestigious company. The Lacroix Signage Business is an iconic and dynamic French business, serving the world. One literally cannot walk out the door in France, Spain, Belgium, the Netherlands, Luxembourg, Switzerland, Ireland, Australia, New Zealand, or the Ivory Coast without immediately encountering their distinctive, high quality signage products.”
About American Industrial Acquisition Corporation
American Industrial Acquisition Corporation (AIAC) is a diversified industrial group with manufacturing and distribution sites in 24 countries in North America, Europe, and Asia. AIAC has acquired and grown non-core subsidiaries and divisions of Boeing, Siemens, Lockheed Martin, Northrop Grumman, Raytheon, Johnson Controls, Merck, Pfizer, Astellas, Visteon, Carlyle, Ahlstrom, Tolko, Groupe Suez, Groupe Rexel, Constellium, Imerys, and many other leading multinational corporations.
AIAC companies serve companies and governmental entities worldwide in all major sectors, including aviation, space, defense, automotive, truck, rail, marine, petrochemical, solar, nuclear, food, confectionary, beverage, civil engineering and infrastructure, commercial construction, mining, dredging, disaster relief, education, medical devices and pharmaceuticals. AIAC companies manufacture materials, components, assemblies, packaging, equipment, and finished products. In addition, AIAC companies are exclusive, authorized distributors of leading branded industrial and consumer products throughout Southeast Asia, Australia, and New Zealand. AIAC also is a distributor of electrical products throughout France.
About AIAC in France
AIAC made its first investment in France over two decades ago and has since expanded to 43 manufacturing and distribution sites throughout the country. AIAC’s companies in France serve every major and mid-sized manufacturing, distribution and retail company and every consumer. The products which it manufactures include precision titanium and stainless steel tubing, logistics pallets, injection molded components, aluminum foil, and signage. AIAC companies in France address a wide range of markets, including, automotive, truck, rail, aviation, space, defense, power generation, chemical processing, food and beverage, and infrastructure. AIAC also distributes the leading brand of electrical components and systems through a network of 2,000 retailers throughout France.
About AIAC in the Global Infrastructure Sector
In addition to the Lacroix Road Signs Business, AIAC serves the global infrastructure sector through its ownership of Union Metal Industries and Gelec. Based in Canton, Ohio, Union Metal makes quality, highly engineered steel structures for signage, lighting, traffic control, and mass transit. Union Metal has been a recognized leader in pole design and manufacturing in North America for 118 years.
Based in Hong Kong, Gelec offers construction equipment, lamps and lighting, fire detection and protection devices, and heating, ventilation and air conditioning engineering services and equipment for large scale public and private construction projects throughout Asia. Originally a regional unit of General Electric, Gelec has played a vital role in the design and construction of major airports, sports arenas, performing arts centers, hospitals, hotels, and office complexes throughout Asia.
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About the Lacroix Group
Convinced that technology must contribute to simple, sustainable, and safer environments, the Lacroix Group supports its customers in developing more sustainable living ecosystems, thanks to useful, robust, and secure electronic equipment and connected technologies.
As a listed, family-owned midcap with a €761 million euros revenue in 2023, Lacroix combines agile innovation, industrialization capacity, cutting-edge technological know-how and a long-term vision to meet environmental and societal challenges through its three activities: Electronics, City and Environment.
Ranked among the Top 50 EMS worldwide, the Electronics activity of Lacroix, the Group's industrial backbone, designs and manufactures electronic functions and industrial IoT (hardware, software, and cloud) and AI solutions, for the automotive, industrial, connected homes and buildings (HBAS), aerospace and defense, and healthcare sectors.
Through its City and Environment activities, Lacroix also supplies secure and connected electronic equipment and IoT solutions to optimize the management of critical infrastructures such as smart road infrastructures (public lighting, traffic management and C-ITS, passenger transport systems) and the remote control of water and energy infrastructures (Smart Grids and HVAC).
Drawing on its experience but also technological and business expertise, Lacroix works with its customers and partners to bridge the gap between today's world and tomorrow's. The Group helps them to build the industry of the future and benefit from the innovation opportunities around them, providing them with the electron equipment and IoT solutions for a more sustainable world.
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Media Contact:
Isabel Carro-Toro
Vice President
American Industrial Acquisition Corporation
+34 689 295 827 (Spain)
+ 1 787 244 3175 (USA)
icarro-toro@aiac.com