Blagnac and Paris September 30th, 2021 “This operation will strengthen the group’s structure and prepare for both future growth and its role as an actor in the consolidation of the aeronautics industry in France, Europe and the United States,” says Christophe Cador, Satys founder when explaining the new development phase that the French industrial group, based in Blagnac, France, has engaged in. Satys will be reorganized into two separate entities, Satys Aerospace and Satys Interiors and fresh equity will be injected in Satys Aerospace to the tune of 40 million euros. The latter was underwritten by the current shareholders in Satys: Ace Capital Partners (subsidiary of Tikehau Capital), Crédit Mutuel Equity, BPI France, IRDI Capital Investment, Satys Industries owned by Christophe Cador and a pool of regional and national investors from Crédit Agricole led by Crédit Agricole Régions Investissement (CARVEST). The management team headed by Christophe Cador will retain the majority of voting rights. Ace Capital Partners will reinforce its position with a subscription of 30 million euro, becoming the second largest shareholder of Satys Aerospace. This operation will take effect on September 30th, 2021, led by Christophe Cador (CEO), Grégory Mayeur (Satys Aerospace Managing Director), Pierre Yves Fargeas (Satys Aerospace CFO) and Olivier de Froissard (Satys Interiors Managing Director).

250 million euros in revenue by 2025

Similarly to all the players in the aeronautics industry, Satys was hard hit by the Covid- 19 crisis in 2020 and 2021. The group is now looking forward to a gradual return to growth for all its activities. “The most difficult is behind us now”, confirms Pierre-Yves Fargeas. “The equity injection will allow us to consolidate our financial situation, pursue our organic and external growth plans in France and in Europe and our very ambitious industrial CAPEX program, mainly in France. We are heading into the 2022-2026 period committed to meeting our economic, industrial and business challenges. Our undeniable strength comes from our group’s team spirit and method of governance with our investors. The regional banks have provided their unwavering support as well as their confidence in the aero industry. We can continue to count on them.” “We believe in the future of the civil and military aeronautic industry and helicopters and their capacity to bounce back and grow”, explains Grégory Mayeur who predicts by 2025 a revenue of 250 million euros compared to 110 in 2021 and 155 in 2019. “A target that can be met based on several drivers”, says Satys Aerospace Managing Director: “external growth, maintenance and repair (MRO) business recovery especially in the United States, an upturn in production rates as announced by the manufacturers, such as the A320 family (+50% in 2024 compared to 2021) and the ramp-up of the surface treatment activities. The recovery is starting to take shape”, rejoices Grégory Mayeur: “the group’s revenue for the fourth quarter in 2021 will increase by 39% compared to the same quarter in 2020 (+30% on a like for like basis), even if it is still 20% below compared to the same period in 2019.”

Two hundred employees to be hired in 2022

“We are proud that our current financial shareholders continue to show their trust in us, thereby demonstrating their optimism in our industry and in Satys Aerospace. A special mention for Ace Capital Partners: Ace Capital Partners, subsidiary of Tikehau Capital contribution to the capital increase validates our strategy as it brings together the French aeronautic industry support funds and the prestigious investors Airbus, Dassault Aviation, Safran, Thales, Tikehau Capital, the French National Investment agency, BPI France and Crédit Agricole. This operation both honors and obliges us”, insists the group’s founder, “to innovate constantly, deliver on time and on quality, to be competitive and to continue to reduce our carbon footprint for all our activities by investing in new technology”. Christophe Cador also acknowledges the commitment shown by the teams present in 10 different countries, who despite the unprecedented crisis have worked relentlessly over the last 18 months, with the main objective of delivering customer satisfaction. He would also like to thank all the customers as well who maintained their trust during these trying times. “We are enthusiastically embarking on a new phase in the life of the group. It will provide growth, employment – almost two hundred new hires in 2022 - as well as challenge us to onboard new teams”. Marwan Lahoud, President of Ace Capital Partners, subsidiary of Tikehau Capital says: “By underwriting this capital increase and by becoming the second largest shareholder after Christophe Cador founder of Satys Aerospace, we reaffirm our confidence in Satys and its management team. Satys has demonstrated remarkable growth in the past and is now undeniably a key player in the industry and a platform for consolidation of its businesses.”

Last June, the 53rd International Paris Air Show was held in Paris Le Bourget. The Show takes place every two years and brings together nearly 2,400 exhibitors and 350,000 visitors. It is an opportunity for Satys to meet its customers, its suppliers, but also to recruit!

At our stand at The Careers Plane, a hall dedicated to employment and training, the Human Resources team presented the Satys business activities. They were even on the French News on channel France2 which focused on employment at the Paris Air Show. There was a paint simulator which allowed the public to discover the profession of aircraft painter as well as information on the training provided in Toulouse (France) by the Satys Academy. Thanks to the "Feminizing the professions in aerospace" operation, many female students had access to the Paris Air Show to encourage them to find their calling in the aerospace sector. They took advantage of the painting simulator to put themselves in the shoes of an aircraft painter and were encouraged by a very enthusiastic team at the idea of welcoming potential recruits.

Our HR Development Manager, Marie-Antoinette Ay, received the President of the Occitania Region, Mrs Carole Delga, on our stand at The Careers Plane to present our activity. During their meeting, a training project led by the Human Resources team was also discussed. Satys is indeed participating in the development of a complementary mention to the aerospace professional baccalaureate in collaboration with the Airbus painting department, Sabena Technics and the Airbus High School. Supported by the UIMM and the GIFAS at the Ministry of National Education, this additional mention would make up for the lack of a diploma for the aircraft painter profession. Indeed, today, companies must train their painters themselves on the CQPM (Certificate of Joint Qualification in Metallurgy) and are unable to take on apprentices. With this new training, we hope to be able to promote the aircraft painter profession in secondary schools and thus have people already trained on the job market. Last March, our Human Resources team received confirmation that the additional mention to the professional aviation baccalaureate and the professional car bodywork baccalaureate would be created. It should be implemented as of the start of the school year in September 2020. Some high schools, such as the Airbus High School and the Gallieni High School in Toulouse, have already announced that they wish to add the additional mention of aircraft painter to their program. This new form of training is not intended to replace those already in existence but to provide a new way to become an aircraft painter.

The French industrial group Finaero adopts the name Satys to link its activities, divided into four business units:

• Satys Sealing & Painting (formely STTS): aircraft painting & sealing, aerostructures & railway equipment.
• Satys Interiors (formely AIP, AIT and SMTC): design and production of railway and aircraft interiors.
• Satys Electric (formely CIEE Interconnect): wiring and cable assemblies for the medical, energy, rail and aerospace sectors.
• Satys Surface Treatment (formely AST): surface treatment for aerospace components.

Why Satys? Customer satisfaction, one of the group’s key values.

A simple name that evokes customer satisfaction and embodies the group’s values:

1. Partnering with our customers:  innovating to create tailor-made solutions
2. Operational excellence:  our DNA
3. People oriented:  develop industrial infrastructures to allow for good working conditions, respect for the environment and guarantee sustainability and diversity for employees

 Christophe Cador, Chief Executive Officer and the Group’s founder: “In addition to better clarity for our customers, Satys reflects the DNA of our group, its teams, its history: we all share the same objective of customer satisfaction for today and tomorrow. This can be found in our respect for on-time delivery and quality that we impose on ourselves as well as a constant pursuit of competitiveness for our products and services. These are the conditions for our development and the sustainability of our markets. I would like to take this opportunity to pay tribute to Satys’ teams who strive on a daily basis towards that end.”

 Our development’s success: strong and controlled growth

Satys group completed the 2017 fiscal year, which ended September 30th, with a revenue of €172m an increase of 28% over 2016 and 19% at constant scope, with 2500 employees in 11 countries in Europe (Francs accounts for 60% of the employees), Middle East, China, South-East Asia and North America. The group’s headquarters are in Blagnac (Occitanie Region of France). Activity in 2018 will be superior to €200m at constant scope and profitability will make it possible to support future investment programs after those from the 2016-2018 period which amounted to €120m. At the end of the five year road map established in 2017, the group has set itself an objective to double its activity by 2025, through internal growth and acquisitions across the four business units, while remaining agile and always ready to reassess itself.

 

Satys Sealing & Painting is today one of the leading partners of Airbus and Boeing in a risk sharing program for painting new aircraft. Furthermore, Satys Sealing & Painting is already present in the aircraft repainting (MRO) market and will intensify its development, especially in the Middle-East, thanks to the opening of a new paint hangar able to accommodate the A380 at the Dubai South Al Maktoum airport in 2019. Satys Sealing & Painting will be able to paint more than 1000 aircraft by 2023. Based in Blagnac, the heart of the aircraft painting world capital, Satys Sealing & Painting has initiated innovation programs so that customers can improve their competiveness especially in aerostructures. This innovation is supported by Expiris, the group’s R&D lab in which the company holds 50% of shares.

Satys Interiors specialized in railway and aerospace interiors in specific markets, will boost its growth thanks to its presence in China and through external growth especially in the rail industry. 

Satys Electric, of which the design office and manufacturing are based in Thailand, will continue to provide support for its customers in the medical, energy, railway and aerospace sectors with two new sites planned for in Germany and the USA. This development will allow Satys Electric to see its activity doubled by 2025.

 Finally, Satys Surface Treatment, the group’s new activity, will undertake heavy investments. Like in the other business units, disruptive innovation, competitiveness, zero-pollution, working conditions and internalization will all drive new growth. New acquisitions are currently under consideration in this business unit.

 

 PRESS CONTACT:

Julie Badas: This email address is being protected from spambots. You need JavaScript enabled to view it.

At the same time that the Dubai wide body hangar was being built, AIP began developing its aircraft interior design in the Middle East. Frédéric Seguy has been overseeing these two projects since his expatriation there last summer.

AIP recently joined forces with Greenline Interiors, a company that has been in Dubai for 40 years and specializes in the interior design of luxury hotels, palaces and some of the biggest yachts in the world. The new company is simply called AIP GREENLINE, Aviation Interiors and plans to start renovating aircraft interiors in order to subsequently ramp up manufacturing activities. Since March 1st 2017, Mark Chandler has been working with Frédéric Seguy as foreman. Mark brings with him over 30 years of experience in interior cabin design. Backed by AIP/AIT and Finaero, the team is currently concentrating on the redesign of the workshop located in the Greenline buildings, recruitment of a production team and the implementation of procedures to acquire local and European certifications (EASA PART145 + GCAA CAR145).

Please note that a new project will begin in April with Etihad Airways Engineering in Abu Dhabi, to support all work done in the A320 VIP cabins, work which is done with the help of AIT Toulouse. Let’s hope this is the first project of many more to come!

This morning the Paris Air Show opened its doors. During one week actors of the aviation industry worldwide will meet and discover technological innovations, conclude new agreements as well as meet new prospects.

The French President, Emmanuel Macron, inaugurated the show this Monday in presence of a delegation of members of the GIFAS, the French Aerospace Industries Association, including Christophe Cador.

After his arrival in an A400M, the delegation greeted the President at the GIFAS Chalet to watch some flight demonstrations. The President then went to the Airbus Chalet where Christophe Cador had the occasion to present him our group and accompany him while visiting our stand as well the plane, where STTS has a booth demonstrating the group’s painting expertise. The President met Caroline Calmettes and Fabien Bordée, painters, David Soulage, technical manager as well as Matthieu Breton, Head of the Paris business unit of STTS.

“The visit of the President at our stand is an important sign of recognition of the knowhow of each and everyone of you. I was honored to present it to him in all of our names.” Christophe Cador President and CEO of Finaero.