Alantra advises Chromalloy on the sale of Malichaud Atlantique to Aciturri Aeronautica

Jan 2023

Sell-side advisory

Paris – Alantra, a leading global investment bank and asset management firm, is pleased to announce that it has advised Chromalloy, a leading aftermarket provider of aerospace engine components, on the sale of Malichaud Atlantique to Aciturri Aeronautica. The transaction closed on November 21, 2022, and deal terms were not announced.

Chromalloy, with more than 4,000 employees worldwide, is a leader in the MRO, aerospace, defense, and energy sectors, specializing in the manufacturing and repair of critical engine and turbine components.

Malichaud Atlantique, based in Rochefort, has 249 employees and is a major player in the manufacture of high-precision turbine blades and guide vanes, notably for the LEAP and CFM-56 programs. A highly regarded player, Malichaud controls the whole industrial process, from machining to the complex heat treatment of these turbines, and has a portfolio of leading customers, including Safran, Rolls Royce, General Electric and Pratt & Whitney. Aciturri Aeronautica plans to draw on Malichaud’s expertise and know-how to create a major European player in the engine market.

Founded in 1977, Aciturri Aeronautica is a Spanish, family-owned company with operations in Andalusia, Castilla y León, Madrid, Pays Basque, and Asturias, as well as Portugal and Brazil. It has more than 2,300 employees and is the leading Spanish aerostructures supplier and engine components manufacturer. Its customers include the main manufacturers in the sector: Airbus, Airbus Defence and Space, Boeing, Embraer, Deutsche Aircraft, Lilium, Safran Landing Systems, Safran Aircraft Engines, ITP Aero and Rolls Royce.

Aciturri Aeronautica expects Malichaud’s leadership, operational knowledge, and engineering experience will drive growth of its new aircraft engine platform, and its unique capabilities in composites and metal technologies will offer high-level solutions to the challenges currently facing the industry: accelerating carbon integration in and around engines, reducing aircraft weight and improving propulsion.

“This deal creates value for all parties,” said Florian Touchard, Partner with Alantra. “The acquisition of Malichaud Atlantique by Aciturri Aeronautica fits perfectly with its long-term vision and will reinforce the position of excellence and growth prospects of this European player in the global aircraft engine market.”

“This is Alantra’s eighteenth transaction in the aerospace sector in two years,” said Wade Aust, Alantra Managing Director & Partner. “Our extensive and enduring track record with product and service providers throughout the entire A&D supply chain is a testament to our deep industry knowledge and connections to the leading players in the industry, as well as our strong momentum in the sector.”

“This transaction is a new illustration of Alantra’s ability to work on complex international deals by managing all aspects of the transaction for the benefit of the stakeholders,” said David Waldstein, Managing Director, Alantra.

In addition to Mr. Touchard (Paris), Mr. Aust (Boston), and Mr. Waldstein (Boston), the Alantra team advising Chromalloy included Phil Dytko (Associate, Boston), and Alif Kanji (Analyst, Boston).