Sagard, BPI France to buy Sabena Technics

The two GPs have taken over from French aircraft services company Groupe TAT (Touraine Air Transport) and the Marchais family, according to Capital Finance.

The report said the transaction would value Sabena at €350m, equivalent to 9x its EBITDA.

Sagard declined to comment on the transaction, while BPI France was unavailable for comment at the time of publication.

Sagard is currently investing via its €800m vehicle Sagard III, closed in 2017. The vehicle targets companies with a turnover in the €100-300m range, with equity tickets ranging between €50-100m.

Sabena is owned by French aircraft services company Groupe TAT alongside the Marchais family. Corporate finance advisory Financiere de Courcelles handled the sale, according to Capital Finance.

Sabena provides MRO services to civil and military aircraft operators. It has four main areas of business: military; commercial flights; VIP aircraft refurbishment; and in-house engineering services, which includes machine-tooling, surface treatment, non-destructive testing, wiring and painting.

Based in Paris but with facilities across Europe, Asia, Africa, South America and Oceania, the business generates revenues of €400m and employs 2,500, according to its website. 

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• Topics
• Buyouts
• France
• Industrials
• France
• Sagard Private Equity
• BPI France