Deal AREVA / November 2016
AREVA TA and AREVA S.A. have sold the entirety of their shareholdings, of 66% and 34% respectively, in the capital of their subsidiary ELTA to the ECA Group, a subsidiary of GROUPE GORGÉ, specialized in robotics and automated systems
ELTA, a company based in Toulouse (South West of France) has been specialized in the development, marketing and in-service support of electronic equipment and systems for harsh environments for the aeronautical and space industry since 1975.
Its activities, including mainly the sale and operational maintenance of distressed beacons used in the civil aeronautics sector, generated €15.6 million in revenue in 2015, with a staff of 92 people.
This sale of ELTA to the ECA Group is part of AREVA TA's strategic plan that aims to refocus its activities on the nuclear sector. It also allows ELTA to benefit from the backing of a long-term shareholder that will be able to support its strategic and industrial development.
In preparation for this sale, AREVA first (1) acquired the 34% held by OHB in ELTA, a company then with a revenue of €35 million, which included, in addition to aeronautical and space activities, nuclear and transport activities, then (2) separate nuclear and transport activities in order to integrate them directly into AREVA and keep in ELTA only the aeronautical and space activities with a view to sell 100% of it.
VULCAIN assisted AREVA throughout the capital and operational reorganization of ELTA, firstly in the acquisition of the 34% held by OHB, then secondly in the carve-out and integration of nuclear and transport activities within AREVA, and thirdly in conducting a large auction process including French and international industrials, leading to the selection, in November 2016, of ECA Group as sole investor.
The team of VULCAIN that supported this transaction was led by Chris KODECK.