Investment companies Sagard, Bpifrance and TowerBrook will acquire majority stakes in in Sabena technics, one of the European leaders in the field of aircraft maintenance and modification, from TAT Group
The proposal was presented on December 17, 2018 to all Sabena technics Group’ s works councils,. The sale is expected to be finalized during the second quarter of 2019.
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.
Sabena technics increased its turnover by over 40% between 2012 and 2018. It has plans to increase its turnover of 600 million euros in 2021. The company believes that the change in shareholding would give it “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.”
The company recently opened a Toulouse painting facility for Airbus aircraft as well as an ATR and Airbus aircraft component repair facility, in partnership with Air France.
Meanwhile, the company, which does airframe services (Base & Line maintenance) on a large range of aircraft, is extending the scope of its activities to overhauls and modification for Boeing 787 -8/9/10 aircraft.
With this approval, the company is now able to deliver quality, customized and cost effective solutions to Boeing 787 operators in its dedicated maintenance facilities based in Bordeaux (France).
“The maintenance operations will be carried out by our highly-skilled experts especially trained to support the Boeing aircraft with a high level of performance and reliability”, said Fabian Ballet, Head of civil aviation and international defense sales. “From aircraft checks to cabin refurbishment, we will be able to cover all its customer’s requirement with an unmatched flexibility”.