Latécoère and Bombardier agree on the condition of the acquisition of the Electrical Wiring Interconnection System assets in Querétaro, Mexico, under which the French company will supply Bombardier with EWIS.
Now able to rely on "a controlling shareholder", the U.S. investment fund Searchlight Capital Partners, Latécoère can calmly unfold its organic and external growth strategy. One of the components is the acquisition of the activities related to Bombardier’s Electrical Wiring Interconnection System (EWIS) assets in Querétaro, Mexico. Activities that currently employ 700 people in Querétaro. The acquisition, which should be finalized in the first half of 2020, is accompanied by a long-term agreement under which Latécoère will supply Bombardier with these same systems for all Bombardier Aviation platforms, including Global aircraft, Challenger and Learjet. The annual turnover of the business is anticipated to be around $80 million. At its Querétaro site, Bombardier will continue to produce major structures for Bombardier aircraft, such as the aft fuselage for the Global family of business aircraft – including the company’s flagship Global 7500 jet – the most complex aircraft component manufactured in Mexico. Under the terms of the transaction, Latécoère will pay Bombardier a cash consideration of $50 million. “This acquisition reflects our willingness to emerge as a leading player in the global consolidation movement in the aeronautics sector”, said Yannick Assouad, CEO of Latécoère, adding: “we keep deploying our manufacturing footprint on an international scale with a strong desire to strengthen our presence in the areas closest to our customers”.