23 March 2018
LMB, a textbook case of a spin-off

At the outcome of a successful spin-off supported by MBO & Co, LMB, a designer and manufacturer of high-performance fans for civil and military aerospace applications, is reorganising its capital around Raise while ensuring an element of continuity, with MBO & Co maintaining a stake in the company alongside chief executive Thomas Bernard and the company’s senior executives.

After having organised LMB’s exit from Honeywell in 2012, MBO & Co played its role as a reference shareholder by developing a strategic plan with the management team for LMB to become a global player and roll out a cross-border action plan: creation of a subsidiary in Singapore, acquisition of its US distributor and relocation of the chief executive to the United States. Having grown its revenue from €12m to €20m in five years, LMB still has fine growth prospects outside France, where the company already generates two-thirds of its activity.

 

“In 2017, at a time when the new organisation was posting tangible results and the company was chalking up its first achievements in the United States, the question arose of strengthening LMB’s structure and organisation in order to accelerate the strategic plan,” explains Eric Dejoie, Chairman of the Executive Board of MBO & Co. 

“The little company from Corrèze has grown into a small global company with robust growth potential, and the hand-over to Raise makes sense.”

 
 
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