Ace Management buys Auvergne Aéronautique group

The three companies were regrouped under the Auvergne Aéronautique holding as part of the transaction. Ace injected €11.5m of equity via the €90m Aerofund II vehicle in order to allow Auvergne to meet is borrowing obligations and keep trading.

All existing staff will be retained and a new management team will be tasked with turning the business around.

Aerospace-focused Ace held a first close for its latest vehicle, Aerofund III, on €150m at the end of January.

Company
Aulnat-based Auvergne Aéronautique is an industrial group specialising in metal work and targeting the aerospace sector. Its clients include Airbus and Eurocopter. Already in trouble at the time, the group had been acquired by Slicom International in 2010.

Auvergne Aéronautique employs 685 staff and generates revenues of €47m.

People
Thierry Letailleur, Corinne d'Agrain, Nicole Dahan and Erwin Yonnet worked on the deal for Ace. Jean Claude Jossart is Auvergne Aéronautique's new deputy managing director.

Advisers
Equity – Joffe & Associés, Christophe Joffe (Legal); Orrick Rambaud Martel, Saam Golshani (Legal); Deloitte Finance, Tristan Doquet-Chassaing, Karim El Barkani (Financial due diligence).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• Industrials
• Turnaround/Special Situations
• France
• ACE Management