Airbus, Safran and Tikehau Ace Capital have signed a Memorandum of Understanding with the mining and metallurgical group Eramet for the acquisition of its subsidiary Aubert & Duval. The three partners intend to acquire 100% of Aubert & Duval through a new joint holding company that would be specifically set up for this transaction and in which they would have equal ownership rights.
Aubert & Duval is a strategic supplier of critical parts and materials for a number of demanding industry sectors, notably the aerospace, defence and nuclear industries, with annual revenues of approximately €500 million (£417 million) and a workforce of around 3,600 employees based mostly in France. The company has end-to-end capabilities in special materials and superalloys, as well as nascent expertise in titanium, which are critical to aerospace, transportation, energy and defence applications.
This acquisition would allow Airbus and Safran to secure the strategic supply chain, for themselves as well as other customers and new material development for current and future civil and military aircraft and engine programmes. It is also consistent with the initiatives taken in the last few years to support the French aerospace industry’s supply chain, and in particular the creation, with the help of the French State, of the Ace Aéro Partenaires fund managed by Tikehau Ace Capital.