We have advised Mecachrome Group (Mecachrome), a leading player in the European aerospace market, on its acquisition of Hitim Group, a specialist in the machining of high-precision mechanics mainly in aerospace. This acquisition strengthens the position of the Mecachrome and allows it to broaden its technology and customer portfolio.
Headquartered in Le Coteau, Loire, France, Hitim Group designs and produces high precision machined parts mainly in aerospace. Supported by an industrial know-how, inherited from the merger of Gemma and Sorome, Hitim Group is a Tier 1 and Tier 2 supplier of most French aerospace players. Hitim Group is specialised in landing gear axles and aircraft engine shafts.
As a recognised player in its markets, Mecachrome is specialised in the manufacture of complex mechanical parts for aircraft structures and aerospace and automotive engines. The group is positioned as a long-term partner of major OEMs such as Airbus, Safran, Rolls-Royce, and Porsche. Mecachrome is present across three continents with a total workforce of around 2,400 employees.
In 2019, a deep transformation plan for the company was launched, under the leadership of its CEO Christian Cornille, who arrived in mid-2019, and with the support of its reference shareholders Ace Capital Partners and Bpifrance. The progress of this transformation has set the stage for Mecachrome to position itself as a consolidator in its markets.
This first acquisition is expected to be followed by several others, with multiple discussions in progress.
The acquisition of Hitim Group will be financed by Mecachrome's shareholders, led by Ace Capital Partners, through its fourth Aerospace fund, launched in the summer of 2020 in the midst of the COVID crisis, alongside Bpifrance.
