A consortium of Sagard, Bpifrance and TowerBrook have acquired a majority interest in Sabena Technics, a Paris-based provider of aircraft maintenance and modification services in Europe.
No financial terms were disclosed. The seller was France’s TAT Group, which will remain a minority shareholder.
TAT, which acquired Sabena Technics in 2005, said the new majority owners will provide the company with the resources needed to support its growth.
Sagard is the French investment arm of Canadian management and holding company Power Corp.
The Sagard, Bpifrance et TowerBrook funds officially acquire majority of Sabena technics’ capital
June 13, 2019
TAT Group sold today its majority interest in its subsidiary Sabena technics, one of the European leaders in the field of aircraft maintenance and modification, to the funds Sagard, Bpifrance and TowerBrook.
This shareholder evolution is an important step for Sabena technics’ development by reinforcing its growth opportunities while accompanying it in the successful implementation of its strategic plan. This development will also give the Group significant resources to expand its offer through external growth, with the constant goal of better serving its customers using skills or locations that complement its own.
TAT Group will remain a minority shareholder and its current chairman, Rodolphe Marchais, will take over the presidency of Sabena technics’ supervisory board. Philippe Rochet will become the executive CEO and shareholder of the Group alongside the group’s senior executives, Jean Marc Schaefer, Gilles Foultier, Philippe Delisle and Fabrice Dumas, all confirmed in their positions.
Evolving in a dynamic market and at the heart of all civil and military aircraft operators’ challenges, Sabena technics’ Group has always been able to transform and adapt itself to the evolutions of this sector in order to put three key fundamentals back to its center strategy: customer satisfaction, industrial performance and economic performance. The company generated a turnover of approximately € 450 million in 2018 with 2,800 employees.
With the support of its new shareholders, each contributing to a specific expertise that is useful for the Group’s future growth, Sabena technics will be able to pursue this voluntary development policy which has recently translated into the creation of the Toulouse painting facility for Airbus aircraft as well as the opening of the ATR and Airbus aircraft component repair facility, in partnership with Air France and more recently the acquisition of a new facility in Perpignan.
Philippe Rochet’s strategic ambition is also to strengthen Sabena technics’ position worldwide as an independent leader in the aircraft maintenance and modification market, both in its civil and military fields, in order to maintain the virtuous balance between these two types of complementary activities.
The entrepreneurial culture of Sabena technics along with the total commitment of the women and men of its teams, their professionalism, their sense of responsibility will remain the assets of the Group to support its development strategy and face tomorrow’s challenges.