Argos Wityu announces agreement to acquire an ownership position in Revima Group, a leading aerospace maintenance, repair and overhaul provider.
Paris, 9 March 2017
Argos Wityu, the European lower mid market private-equity firm, has entered into exclusive negotiations to acquire an ownership position along with Olivier Legrand and Christian Grzanka in Revima Group. The transaction is subject to customary authorizations (works council consultations, approvals from applicable administrative authorities) and is expected to close by the summer 2017.
Revima Group is a leading independent aerospace Maintenance, Repair and Overhaul (MRO) service provider, primarily focused on Auxiliary Power Unit (APU) & Landing Gear products. The group is a provider in the aerospace commercial and military fields, and offers comprehensive service solutions (logistics, on site support, by the hour solutions …). It operates essentially from its historic facility located in Caudebec-en-Caux, Normandy, France, and has commercial and customer support offices in Asia, the USA, and the Middle-East. It employs over 600 employees and generated in 2016 revenues in excess of 200 million euros.
The transaction will allow the group to provide an improved quality of service and reinforced agility to anticipate customers’ expectations and adapt to evolving market conditions.
« We are delighted with the opportunity to contribute to the next chapter of the promising future of Revima Group which operates in an environment of high technical qualifications, where it’s know-how and excellent reputation have provided the Group with a strong position. Our ambition is to contribute to position the company into new growth areas to make this beautiful French company a leader and international pioneer in its sector », » said Gilles Mougenot, Chairman of Argos Wityu Partners.
Revima Group will retain its management and staff, and two of its existing shareholders, Christian Grzanka and Olivier Legrand, will continue to own significant holdings in the Group. When the operation closes, Christian Grzanka will become Chairman of the Supervisory Board along with Argos Wityu partners, while Olivier Legrand will be appointed President & CEO of the Group.
« We are truly excited to benefit with Argos Wityu of a highly professional shareholder with whom we share a true entrepreneurship culture, strong values and sense of social responsibility. The combination of their experience in developing businesses with our know-how opens up new opportunities to execute numerous projects, to accelerate our growth, and to reinforce our market positions. », said Christian Grzanka and Olivier Legrand.