Lisi Aerospace Creuzet Morocco, a subsidiary of the French Lisi Group, is part of the investment fund manager Quantum Capital Partners, a subsidiary of the German group Quantum. The reason is that the French industrialist separates from its boilermaking and assembly activities. It intends to consolidate its fasteners business and focus on complex primary parts from strategic technologies, an activity in which it intends to develop.
The announcement was made via a press release in which the group explains that it has definitively completed the sale of all the shares of two subsidiaries: Indraero Siren and Lisi Aerospace Creuzet Morocco. Their main activities are boilermaking and assembly of aerostructures.
The first is located in Argenton in Creuse and Déols (France) where it employs 422 employees. The second is based in Casablanca where it employs 283 employees on 12,000 m² built. The group achieved a turnover of 61 million euros in 2018, based on significant positions at Airbus and Safran. The management of Lisi Aerospace explains: “We want to focus our financial and managerial resources on special components from forming, forging and extrusion technologies – boiler making and assembly are not part of the focus strategic”.
However, the French group does not communicate on the terms of sale. “The Casablanca site has captured the attention of Quantum Capital by its operational performance, the quality of its team, infrastructure and qualifications. The development of key customers such as Safran and Airbus, as well as the growing local supply chain service, seemed to be at the heart of Quantum Capital’s concerns,” said Jean-Louis Colders, Managing Director of Lisi Aerospace.
Since its creation in 2008, the Quantum Group has acquired various companies from major global groups such as Robert Bosch, Stora Enso, Dürr, Airbus, Nestle, Mahle, Tenneco and Norsk Hydro. With more than 25 acquisitions since 2014, the German group is one of the most active investors in its sector.
Through this latest operation, Quantum Capital Partners has set out to accelerate its development by grouping all of its aeronautical activities under one banner, Aviagroup Industries. The objective is to fully exploit the operational synergies and aim for a critical size greater than 100 million euros.
The French group reduces the wing, but does not leave Morocco. Indeed, Lisi Aerospace operates a second site, this time based in Tangier. The latter is not part of the scope sold and belongs to the industrial fasteners, historical activity of the group Lisi Aerospace – its development is indexed on the growth of this activity. “The division is currently recovering after a tense 2017, where we have undergone Supply Chain adjustments on the part of our contractors,” says Jean-Louis Colders.