Messier-Bugatti-Dowty signs agreement with Sabena technics to acquire 100% of Hydrep
Vélizy, July 29, 2014 - Vincent Mascré, Chairman and CEO of Messier-Bugatti-Dowty (Safran), and Rodolphe Marchais, Chairman and CEO of Sabena technics, signed an agreement on July 18 for Messier-Bugatti-Dowty to acquire Sabena technics' 50% stake in their 50/50 joint company, Hydrep. The transaction is scheduled to take effect in September 2014.
Based in Dinard, France, Hydrep employs 100 people and is a leading provider of repair services for landing gear on regional and business airplanes and helicopters.
After a successful 23-year partnership between these two leading aerospace companies, Hydrep, as a wholly-owned subsidiary of Messier-Bugatti-Dowty, will be able to bolster its position in the market for landing gear maintenance and associated services.
Vincent Mascré, Chairman and CEO of Messier-Bugatti-Dowty, said: "The acquisition of 100% of Hydrep consolidates our position in the regional market for landing gear repair, a strategic segment with tremendous growth potential. This transaction also underlines our ongoing commitment to providing our customers with high-quality, local service."
Rodolphe Marchais, Chairman and CEO of Sabena technics, added: "We are especially proud to have contributed to Hydrep's development over the past 23 years in partnership with Messier-Bugatti-Dowty. We are totally confident that this new ownership structure will enable Hydrep to expand further. Sabena technics will continue to call on Hydrep's competencies within the scope of the services we provide for our civil and military aviation customers, particularly for equipment maintenance and repair."
Hydrep: located at International Airport of Dinard, France, Hydrep is a joint-venture of Messier-Bugatti-Dowty (Safran) and Sabena technics (TAT Group), specialized in repair and overhaul of landing gear, hydraulic components, wheels and brakes, and accessories for business, commuter aircraft and helicopters. Hydrep holds all necessary regulatory approvals (EASA, FAA, CAAC) and an AS9110:2009 / ISO9001:2008 registered quality system to meet the needs of corporate operators, regional and commercial airlines.
Sabena technics: founded in 1968, Sabena technics is a leading independent player in the aircraft maintenance sector. With a network of 15 sites employing over 2,200 persons worldwide, the company is specialized in supporting regional, narrow and wide-body fleets, as well as military operators. Its business offer covers six product lines delivering across-the-board coverage of client requirements: Airframe services, VIP completion, Component services, Integrated services, Military services and Training services. Sabena technics' infrastructures include over 200,000 m² of hangars and facilities across the world and logistic platforms.
Messier-Bugatti-Dowty (Safran) is the world leader in aircraft landing and braking systems. Company capabilities encompass the full life cycle of our products, ranging from design and manufacture to in-service support, repair and overhaul. Messier-Bugatti-Dowty is a partner to 30 leading commercial, military, business and regional airframers, and supports more than 24,000 aircraft making over 40,000 landings every day. The company employs 7,000 staff working in locations across Europe, North America and Asia.