November 08, 2022

Latécoère acquires Avcorp Industries Inc.

Goodmans LLP acted for Latécoère S.A, a Tier 1 partner of the world's largest aircraft manufacturers, in relation to the acquisition of Avcorp Industries Inc., a Canadian-domiciled company that builds major airframe structures for leading aircraft manufacturers.

Latécoère acquired all of the issued and outstanding common shares of Avcorp in exchange for cash consideration representing a 16% premium to the closing price of Avcorp’s common shares on the Toronto Stock Exchange on May 4, 2022. The transaction was implemented by way of a court-approved plan of arrangement under the Canada Business Corporations Act.

The acquisition of Avcorp strengthens the Latécoère Group's Aerostructures business through the access to key aircraft platforms (B737 Max and F-35), an expanded product portfolio including wing sub-assemblies, and the production capabilities for large-scale composite parts.

This acquisition is part of Latécoère’s 2025 roadmap to achieve profitable growth and participate in global aerospace industry consolidation. It follows a number of external growth transactions initiated by the Group in 2021 and continued into 2022 with the acquisition of MADES and the investment in Figeac Aéro’s Mexican activities co-located with Latecoere Mexico.

These acquisitions have enabled Latécoère to:

Strengthen its manufacturing presence in North America and improve geographic proximity to customers such as Bombardier and Boeing; and
Significantly increase the Latécoère Group’s exposure to the defence sector, with the Latécoère Group's revenues increasing from circa 5% to 15% in this profitable and growing market.

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One client noted, "...they handled a very complicated transaction involving many jurisdictions and did a very good job. They are always able to make comparative decisions through a relatively simple way and try to balance risk and find solutions." — Chambers Canada
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Latécoère acquires Avcorp Industries Inc.

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