Messier-Bugatti-Dowty signs agreement with Sabena technics to acquire 100% of Hydrep
Vélizy, July 29th, 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."