AT Group enters into exclusive negotiations with Sagard, BPI France and Towerbrook funds for the acquisition of Sabena technics’ capital

Lauren Eldershaw
By Lauren Eldershaw December 18, 2018 12:50

AT Group enters into exclusive negotiations with Sagard, BPI France and Towerbrook funds for the acquisition of Sabena technics’ capital

TAT Group has entered into exclusive negotiations with the investment companies Sagard, Bpifrance and TowerBrook in order to sell them its majority interest in its subsidiary Sabena technics, the aircraft maintenance and modification provider.

The sale should be finalised during the second quarter of 2019, subject approvals.

The company states that this “shareholder evolution” will be an important step for Sabena technics’ development by “reinforcing its growth opportunities while accompanying it in the successful implementation of its strategic plan which aims at a turnover of €600 million in 2021”, adding that 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, who are all continuing in their positions.

With the support of its new shareholders, Sabena technics states that it will be able to pursue the ambitious development policy, initiated by TAT Group 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.

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.

Lauren Eldershaw
By Lauren Eldershaw December 18, 2018 12:50