13 November 2019 - Glidepath Limited announced today that its shareholders have entered into an agreement to sell the shares in the leading integrated airport baggage and parcel handling systems, to B2A Technology SAS, the French leader in automated turnkey solutions for the intralogistics, airport and healthcare markets.
Owner and Executive Chairman, Sir Ken Stevens, said in confirming the sale of the company he founded 47 years ago for an undisclosed sum that it was the right time for him and Stevens’ family interests as shareholders, and Glidepath as a business, to look to the future.
“The sale will allow Glidepath to build on its strong performance and prospects with a new owner who has the right synergies, capabilities and customer centric values to step up and take the business to the next level of growth,” Sir Ken says.
B2A Technology President, Pierre Marol, said the acquisition of Glidepath will boost the growth potential of the combined Group which will have over 900 employees operating in 10 countries over five continents.
“The B2A Technology Group which now includes Alstef, BA Systèmes and Glidepath can offer a wider global market presence, expanding and complementary product range and greater commercial strength while remaining true to the shared values of collaborative innovation, customer focus and care for its people,” he said.
Mr Marol said it would be business as usual for Glidepath and status quo for the Glidepath brand, management, staff, marketing and manufacturing networks while a joint strategy is developed.
Glidepath Group General Manager, Natalie Bilyard, said the management team was excited and supportive of the acquisition and the opportunities to leverage technical and commercial systems and synergies to grow the business.
“We have complementary customer offerings and do not compete in the same markets,” she said.
“We will be able to co-develop market leading products, software and services for global clients and expand our markets and competitive appeal of what is shaping up to be a fast emerging, world class technology group.”
Sir Ken, who will step down as Executive Chairman, might be retiring from his day job, but he will continue to be a champion for New Zealand exports, the West Auckland community, and coach and encourage the incubation and development of fresh innovations.
Glidepath was advised by KPMG (M&A and financial due diligence) and law firm, Kensington Swan. B2A Technology was advised by PwC (M&A), Chapman Tripp (legal and tax), and EY (financial due diligence).
Glidepath is an innovation company, integrating automation and new technologies to move products faster, safely and efficiently. It designs, integrates, installs, commissions and maintains automated solutions for airport baggage handling systems and parcel and cargo handling systems as well as Glidewalk moving walkways. The New Zealand headquartered business with a global network has built its reputation over 47 years and 1000 plus projects in 68 countries on a can-do will-do ethos and commitment to innovation, genuine service, customising solutions to deliver superior experiences and long-standing relationships and collaborative partnerships. Glidepath has a centre of excellence for automated modular product and proprietary software development and a manufacturing and prototype plant in Auckland. A network of regional offices operates across Canada, USA, Latin America, India, where a manufacturing plant is also located, South Africa, the Pacific and Australasia. The company employs more than 300 engineers, controls and software designers, programmers, marketers, and relationship managers from all around the world.
About B2A Technology
B2A Technology is the French leader in automated turnkey solutions for the intralogistics, airport and healthcare markets. It is the holding company for Alstef and BA Systèmes. Alstef has a reputation for excellence in the automated handling market, having designed hundreds of integrated systems for airport and logistics facilities for diverse industry sectors. It has subsidiaries in Canada, Turkey, Russia and Croatia. BA Systèmes is the French leader in intralogistics systems based on AGV (Automated Guided Vehicles). It supports industrial companies to automate their processes, equipping over 300 sites in Europe and latterly in North and South America. B2A Technology employs 600 people and generates €120m of annual revenue. Its share capital is divided between Future French Champions (Bpifrance and Qatar Investment Authority) with 31%, Pierre Marol 25% Jean-Luc Thomé 18%, managers 14% and employees 12%.