Latécoère, a leading partner of major international aircraft manufacturers, has announced that it has entered into definitive transaction documentation with American Industrial Acquisition Corporation (AIAC) to acquire Malaga Aerospace, Defense & Electronics Systems (MADES), based in Malaga TechPark. This acquisition is the third external growth transaction since the capital increase completed in August.
MADES is an electronics manufacturing services (EMS) provider focused on printed circuit boards (PCB) for high reliability applications across defense (~80% of sales), commercial aviation and industrial end markets (~20% of sales). MADES operates out of one site in Malaga (Spain) and employs circa 100 highly skilled staff.
The acquisition of MADES provides Latécoère with vertical integration opportunities, better meeting the full product requirements of its Electrical Wiring Interconnection Systems (EWIS) customer base. MADES also provides Latécoère with new solutions to serve the future generation aircraft.
Thierry Mootz, Chief Executive Officer of Latécoère, stated: “I am delighted with this transaction. This is great news and an exciting adventure for both management teams and employees. MADES is a market-leading company with effective management and first quartile operational and customer performance. Following the acquisitions of SDM in Mexico, and TAC in Belgium, this is the third acquisition since the capital increase completed in August. MADES is developing our position in the US Defense market segment and will create significant synergies within Latécoère’s Interconnection Systems division as well as reinforcing our # 1 position for avionic racks. We are continuing to accelerate the external growth strategy announced at the time of the capital increase, and are thus realizing our ambition to serve the aerospace industry with innovative solutions for a sustainable world.”
Leonard M. Levie, Chairman of AIAC, stated: “This transaction marks an important milestone for MADES and its stakeholders. We are justifiably proud of the achievements of the MADES team. Latecoere is an exceptional company within the aerospace industry, and its stewardship will allow MADES to climb to new heights.”
As a “Tier 1” international partner of the world’s major aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault, Embraer and Mitsubishi Aircraft), Latécoère is active in all segments of the aeronautics industry (commercial, regional, business and military aircraft), in two areas of activity:
• Aerostructures (55% of turnover): fuselage sections and doors,
• Interconnection Systems (45% of turnover): wiring, electrical furniture and on-board equipment.
As of December 31, 2020, the Group employed 4,172 people in 13 different countries.