Consolidation is about to accelerate in the aeronautics sector. In recent weeks, several mechanical players like Mecachrome or Figeac Aero have announced acquisitions or capital increases with a view to external growth operations. Consolidation is also brewing in the aircraft painting and surface treatment segment.
A necessary consolidation in France of surface treatment activities
World leader in new aircraft painting, the Toulousain Satys has just announced a reorganization into two distinct entities (Satys Aerospace which brings together the painting and repainting of aircraft, sealing and surface treatment activities for aeronautics and Satys Interiors for the interior fittings business in railways and aeronautics), as well as a capital increase of 40 million euros in its Aerospace division. Ace Capital Partners, the subsidiary of Tikehau Capital, tasked in 2020 by the government and major contractors to support the aeronautics sector, alone brings 30 million euros and becomes the second shareholder of Satys Aerospace.
“We have succeeded in establishing ourselves as the leader in new aircraft painting because we are a strategic partner of the two major aircraft manufacturers Airbus and Boeing. But on the other hand, on the repainting side, in other words the painting of aircraft already in operation, we are only the European leader. Simply, because we have no activity in the United States in this area of repainting. Finally, we are a newcomer in the field of surface treatment where we are number two in France. It is a sector which is really called upon to consolidate because there are more than thirty players in France for a relatively small market “, decrypts Grégory Mayeur, CEO of Satys Aerospace.
Before adding: “Satys wants to become the leader in surface protection in the broad sense, that is to say the surface treatment, the sealing and the painting of the elementary part to the complete aircraft, passing by the sub-assemblies in the field of new products and in the field of products in operation. We still have positions to consolidate to achieve this.“Already adopted by Airbus and Boeing, the group is also seeking to strengthen its presence with other major clients such as Bombardier, Dassault and Safran.
200 recruitments in 2022
To achieve this, Satys is planning several internal and external growth operations in the coming months. After seeing its turnover fall from 155 million euros in 2019 to 110 expected in 2021, the group plans to rise to 250 million euros by 2025.
“There are two factors of optimism concerning the recovery, details the general manager. The first is that air traffic is starting up again. It is roughly 75-78% of the pre-crisis global air traffic level. With the opening of the American borders at the beginning of November, we have good hopes of finding a favorable course. And then, the second important element is that Airbus and Boeing have announced rate increases on their programs. “
Faced with this announced recovery, Satys has already recruited around ten people since the end of August and plans to recruit 200 for the year 2022. Last June, the CEO of Satys Christophe Cador sounded the alarm on the skills shortage for support the increase in production rates. “Many profiles have turned to other industrial sectors. Some of our employees have also converted to taxi drivers, have launched their food truck “, he testified. Satys therefore intends to train and recruit profiles with no experience in aeronautics.
