Ardian's Revima completes two bolt-ons

Chromalloy France is a subsidiary of Florida-based aerospace and industrial group Sequa Corporation, a portfolio company of the Carlyle Group. Revima acquired Chromalloy's facility in France with the objective of bolstering its component repair offering.

Through the Flight Watching acquisition, Revima intends to enhance its data analytics to accurately predict impending failures and deteriorated performance of components, making it possible to take preventive actions prior to aircraft and system operational defects.

Ardian acquired a majority stake in Revima Group, a maintenance, repair and overhaul (MRO) service for aircraft equipment, from Argos Wityu last month. Following the transaction, Revima's president Olivier Legrand and Argos Wityu reinvested in the business. Unquote reported at the time that Ardian used its Ardian LBO VI fund for the transaction; the vehicle closed on €4.5bn in 2016.

In November last year, Unquote sister publication Mergermarket reported the auction process managed by Canaccord Genuity was seeing Revima marketed based on EBITDA of €30m.

Company
Chromalloy France, based in Saint-Ouen l'Aumône, specialises in engine parts repairs and special coatings. The business recorded a €12.7m turnover in 2017, according to its annual accounts. It has a workforce of 80 people.

Founded in 2013 and based in Toulouse, Flight Watching is a startup specialising in digital analytics, visualisation and predictive maintenance software for airlines, MROs and OEMs. The business develops a software named Wilco, which uses web-based tools, advanced graphic interfaces, big-data analytics and a patented aircraft remote diagnosis procedure.

People 
Revima - Olivier Legrand (president, CEO).
FlightWatching - Jean-Philippe Beaujard (CEO).

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