Aircraft parts makers Mecachrome, WeAre to join forces

The combined company of Mecachrome and WeAre Group will make parts for Dassault Aviation's Rafale multirole fighter. (Janes/Patrick Allen)

Mecachrome has finalised previously disclosed plans to acquire fellow French aerospace parts manufacturer WeAre Group, paving the way for the creation of a combined company with approximately EUR450 million (USD450 million) in annual revenue, according to a 29 August announcement.

The transaction will improve the ability of Mecachrome and WeAre to serve their customers by broadening their offerings and strengthening their finances, the announcement says. Under the deal, French private equity firms Tikehau Ace Capital and Bpifrance will own 64.3% and 35.7%, respectively, of the combined business.

The merged company will be one of Europe's largest aerospace parts manufacturers, employing about 3,700 people at more than 20 production sites. It will support defence platforms such as Dassault Aviation's Rafale multirole fighter, the Rafale's Safran M88 engine, and MBDA missiles, and it will have “a clear strategy to continue to develop in this field”, Tikehau spokesperson Audrey Hood told Janes .

Mecachrome's Christian Cornille and WeAre's Pascal Farella will become CEO and deputy CEO, respectively, of the combined company. “The next few months will be dedicated to the integration of both entities,” Hood said.

Mecachrome and WeAre revealed in December 2021 that they were discussing a potential combination. Since then, they have negotiated details to bring the two companies together.

The transaction is not expected to affect Tikehau's other defence-related holdings, including fan maker LMB Aerospace; aviation equipment provider Rafaut Group, which recently changed its name to Aresia; and aircraft parts maker Visco.