Paris, 22 September 2016, 5.35pm - Assystem S.A. (ISIN code: FR0000074148 - ASY)
Assystem to acquire 79% of Aerotec Concept
Assystem has signed an agreement with the two shareholders and co-founders of Aerotec Concept - Philippe Marty and Johan Clochet - to acquire 79% of Aerotec Concept's capital through Assystem France. The remainder of Aerotec Concept's capital will continue to be held by Philippe Marty and Johan Clochet and will be subject to put and call options exercisable in the medium term.
Aerotec Concept (based in Toulouse) and its subsidiary, Aerotec (based in Graulhet, to the east of Toulouse), are expected to generate combined revenue of some €8 million in 2016. Aerotec Concept is a well-established player in the airplane/helicopter refurbishment and customisation market, and has carved out a strong presence in the fast-growing markets for bespoke cabin fittings, avionics modifications and connectivity. It has an international client base, primarily comprising operators of airplane maintenance, repair and overhaul centres, helicopter fleet operators and Tier 1 OEM suppliers.
Holding several international certifications, Aerotec Concept can offer a wide range of retrofits (for cabins and avionics). It has a large portfolio of modification types (Supplemental Type Certificates and minor changes), which it has built up through its past projects and which are ready to be reused to drive the company's development. Through Aerotec, it also has access to a specialised workshop dedicated to assembling kits that it designs for OEM suppliers, fitting out small airplanes and repairing helicopters.
Aerotec Concept and Aerotec - which will strengthen the Aerospace services offering of Assystem's Global Product Services division - will continue to be managed by Philippe Marty and Johan Clochet, respectively as Chairman and Chief Executive Officer.
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Assystem is an international group specialised in engineering. As a key participant in the industry for 50 years, Assystem supports its clients in developing their products and managing their capital expenditure throughout the product life cycle. Assystem employs some 12,000 people worldwide and generated €908 million in revenue in 2015. Assystem S.A. is listed on Euronext Paris.
For more information please visit www.assystem.com - Follow Assystem on Twitter: @Assystem
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ASSYSTEM via Globenewswire