TowerBrook announces investment in Sabena technics

We are pleased to announce that TowerBrook Capital Partners L.P. (“TowerBrook”), with a group of investors composed of Sagard SAS and Bpifrance Investissement SAS (together the “Consortium”), has entered into definitive agreements to purchase a majority stake in Sabena technics, a provider of maintenance, repair and overhaul (“MRO”) services for both the military and civil aerospace sector, headquartered in France. The Marchais family (the seller), through its holding company TAT, will remain a minority shareholder in the Company.

Sabena technics is a provider of MRO services operating through two divisions, Military & Government and Civil/Commercial aerospace sector. The Company has positioned itself as a leader in specific niche markets, focusing on widebody, complex and non-standard format repairs, airframe and heavy modifications on all fleet encompassing a valuable and strategic part of the MRO value chain.  It has balanced revenues between its military and civil divisions, allowing it to diversify revenue streams and clients. It is also the sole European member of the Airbus MRO alliance.

TowerBrook first identified the opportunity to invest in Sabena technics in July 2018 through its combined sourcing effort in France and in the aerospace sector. We are delighted to partner with Sabena technics’ management team and our Consortium partners as the Company enters its next phase of development with multiple avenues of growth. TowerBrook, the other buying investors, the Marchais family and the management team share a joint vision and ambition to pursue the Company’s successful strategy of developing both military and civil activities organically, complemented with a focus on strategic acquisition opportunities that will help cement the Company’s strong positioning in Europe. The Consortium will reserve significant financial resources to support the Company’s ambitions of consolidating the fragmented MRO market.

TowerBrook has longstanding relationships in the aviation industry, most recently through its investment in Aernnova in 2018. Our investment in Sabena technics continues to strengthen our network, industry connections and understanding of the whole aviation value chain in a landmark primary transaction. The transaction is subject to customary competition filings and regulatory approval and is expected to close in Q2 2019.

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