Argos Wityu finalizes the acquisition of Revima Group, a leading aerospace maintenance, repair & overhaul provider
Paris, 5 July 2017
Argos Wityu, the European lower mid-market private-equity firm, announces the acquisition of a majority stake in Revima Group, alongside its managers Olivier Legrand and Christian Grzanka, following a period of exclusive negotiations.
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, onsite support, by the hour solutions …). It operates essentially from its historic plant located in Rives-en-Seine, Normandy, France, and has commercial and customer support offices in Asia, the USA, and the Middle-East. It employs over 600 employees and generated revenues in excess of 200 million euros in 2016.
The management team is led by Olivier Legrand, appointed President of the Group, and by Christian Grzanka, appointed President of the Supervisory Board alongside Argos Wityu board members. Following this transaction which provides new capital resources, the Group’s objective is to pursue its growth strategy in the expanding aerospace market, notably in high-growth areas by increasing its maintenance and repair capabilities. In addition, an improved quality of service, a reinforced ability to anticipate customers’ expectations and the development of partnerships to adapt to evolving market conditions are also objectives in the business plan.
This acquisition is partially financed by unitranche debt provided by Tikehau Investment Management. This is the first acquisition of Euroknights VII, the latest buyout fund raised by Argos Wityu.
« Now that we are shareholders of Revima Group alongside its managers, we are very happy to start the strategic and operational phase of the Group’s development in a global market with high-growth areas, in this capital intensive business. Alongside a talented team, our restated goal is to make this great French mid-sized company a leader and international pioneer in its sector. », said Gilles Mougenot, President of Argos Wityu Partners.
« We are very excited to benefit from having Argos Wityu as a highly professional shareholder with whom we share a true entrepreneurial culture, strong values and sense of social responsibility. The combination of their experience in developing businesses with our history and know-how opens up new opportunities to launch numerous projects, to accelerate our growth, and to reinforce our market position in France and internationally. », said Christian Grzanka and Olivier Legrand.
LIST OF PARTIES INVOLVED
1 – Buyers
Argos Wityu (Gilles MOUGENOT, Thomas RIBEREAU, Pierre DUMAS)
Financial – Eight Advisory (Eric DEMUYT, Jean-Sébastien RABUS)
Legal – Mayer Brown (Xavier JASPAR, Thomas PHILIPPE, Nathalie JALABERT DOURY, Clotilde BILLAT, Marion BRUERE, Estelle LECLERC)
Legal for financing – Mayer Brown (Patrick TEBOUL, Constance BOUCHET)
Tax – Arsène Taxand (Frédéric DONNEDIEU DE VABRES, Brice PICARD, Sophie GALARZA)
Strategy – Emerton (Sébastien PLESSIS, Pascal SIMON, Sylvain BEUCHER)
Operational strategy – EFESO Consulting (Luca LECCHI, Pierre DEMARQUETTE, Olivier RANKOWSKI)
Insurance – Brugmann Conseil (Benoît VERRON)
Environment – AECOM (Christian LEMAITRE, ChinChin LIM)
2 – Sellers
Legal – Dethomas Peltier Juvigny & Associés (Frédéric PELTIER, Etienne LETANG)
Legal – Coblence & Associés (Alexandre BRUGIERE, Marion FABRE)
Tax – Jeausserand Audouard (Jérémie JEAUSSERAND, Carole FURST)
Tax – Fidal (Arnaud JAMIN, Clémence CARRIERE)
M&A – Brugmann Conseil (Franck LABOREY)
3 – Lenders
Tikehau Investment Management (Cécile MAYER-LEVI, Aymeric MARTIN)
Lawyers – Willkie Farr & Gallagher (Paul LOMBARD, Stanislas CURIEN)
About Argos Wityu:
Argos Wityu is an independent private-equity group with offices in Brussels, Frankfurt, Geneva, Milan and Paris. Since its creation in 1989, the group has executed nearly 75 Management Buy Outs (MBO) and Management Buy Ins (MBI) transactions on companies of average size (Enterprise Value ranging from 25 to 200 million euros). Its majority ownership investments range between 10 and 100 million euros.
With 800 million euros under management dedicated to acquisitions, the group develops a unique investment strategy on complex transactions focused on transformation and growth as opposed to leverage. Its entrepreneurial approach is characterized by close proximity with the management teams and by a strong support to implement their strategic projects.
About Revima Group:
REVIMA Group is a leading independent provider, specialized in Auxiliary Power Unit (APU) and Landing Gear MRO (Maintenance, Repair & Overhaul). Based in Rives-en-Seine in Normandy, France, the group is a provider in the aerospace commercial and military fields. In 2010, Revima Group created Normandy Aero Spares, a company specialized in the trading of serviceable parts.
Antoinette Darpy –toBnext Communication Agency – + 33 (0)6 72 95 07 92 – email@example.com