TAT Group sells Sabena Technics

FINANCIERE DE COURCELLES, member of Global M&A Partners, advised TAT Group in the sale of Sabena technics, the European independent leader of aerospace MRO.

The consortium of financial investors led by Sagard, BPI and TowerBrook is entering into exclusive negotiations to acquire a large majority of Sabena technics. TAT reinvests a minority stake, alongside with the management team. This transaction is the largest one in the aerospace sector in Europe this year.

Sabena technics has a consolidated turnover of around €450m, balanced between civil and military, and employs more than 2,300 employees on 14 sites, half of which are located outside of France. The group supports more than 25 different types of aircraft and helicopters, with a specialization on wide-bodies. Sabena technics carries out numerous modifications on civil and military aircraft thanks to the rare experience of a design office producing 200,000 hours of intellectual services each year. Positioned on expanding markets, Sabena technics aims for significant growth, both on civil and military segments.

The FDC team has been working with Sabena technics / TAT since 2013. It has already advised the group on the sale of Barfield (USA) to Air France Industries and Hydrep to Safran group. As part of a succession plan, the TAT group, led by Rodolphe Marchais, entrusted FDC with the organization of a competitive sale process while preserving the 50 years old family-owned Group identity and the key relationships with public and private large stakeholders.

The process, managed entirely by FDC, led to the approach of a significant number of potential buyers, both industrial and financial. Following this transaction, which is subject to usual regulatory approvals, Sabena technics will benefit from a professional and powerful shareholder support, providing the Group with the necessary resources to pursue its growth ambitions.

This transaction illustrates FDC’s extensive knowledge of the sector and its ability to support family businesses, entrepreneurs and financial investors in their various strategies.

About Sabena technics

Sabena technics is a leading independent MRO (maintenance, repair & overhaul) provider of services to civil and military aircraft operators. The group supports more than 25 different types of aircraft and helicopters, with a specialization on wide-bodies. Sabena technics employs over 2,300 persons across its 15 sites worldwide representing +200,000 sqm of hangars.

The group offers a broad range of solutions: Airframe, CAMO, Component, Engineering, Painting, Supply-Chain and Training based on the basic principle of meeting its customers’ requirements.

www.sabenatechnics.com

About Sagard

Sagard is a French investment fund that provides equity capital to support the development of midsized

companies led by ambitious management teams. Created by the Desmarais family (Power Corporation of Canada) in 2003 together with a group of well entrenched industrial families, it manages close to €2.5 billion in funds.

ince 2004, Sagard and its team of 10 professionals based in Paris have completed 30 deals in the industrial and service sectors in France, Belgium and Switzerland. Antoine Ernoult-Dairaine, Rik Battey and Jérôme Triebel were involved in the deal.

www.sagard.com

About BPI France

Equity investment are operated by Bpifrance Investissement. Bpifrance, a subsidiary of the French state and the Caisse des Dépôts and the entrepreneurs’ trusted partner, finances businesses from the seed phase to IPO, through loans, guarantees and equity investments. Bpifrance also provides operational services and strong support for innovation, export, and external growth in partnership with Business France.

Bpifrance offers to businesses a large range of financing opportunities at each key step of their development, including offers adapted to regional specificities. With its 48 regional offices (90% of decisions are made locally) Bpifrance represents a strategic tool for economic competitiveness dedicated to entrepreneurs.

www.bpifrance.fr

About TowerBrook

TowerBrook Capital Partners L.P. is a transatlantic investment management firm headquartered in New York and London that has in excess of $7.0 billion in assets under management. It is an entrepreneurial firm that invests across industries, and it is focused on partnering with talented management teams to build industry leading franchises. TowerBrook invests in buyouts and other control-oriented investments out of its private equity funds and in minority preferred equity positions and other non-control or structured investments out of its structured opportunities funds.

www.towerbrook.com

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