De Pardieu Brocas Maffei has advised Société Générale, as lender, in connection with the financing of the acquisition of Armoa, a company specialised in high precision machining, by Mecadaq Group (a leading provider of high precision manufacturing for the aerospace industry) and Activa Capital (an independent French private equity firm).
The acquisition takes place 18 months after the creation by Activa Capital of a consolidation platform in aerospace subcontracting. This is the second significant build-up for Mecadaq, which already generates revenues of €32 million in aeronautic subcontracting, primarily in the area of machining of aero structure parts for civil aircraft. Financed with bank debt and additional capital provided by Activa Capital and Mecadaq’s management, the acquisition will increase the group’s revenues to over €50 million.
Based outside Paris, in Chanteloup-les-Vignes, with revenues of €18 million, Armoa is a family-owned business that for 40 years has specialised in providing high precision machining of small and medium size aluminium aero structure parts. The company’s excellence in this area has made it the manufacturer of choice for top clients in the aeronautics sector, such as Stelia (Airbus), Daher, and Thalès.