Aircraft parts maker Crouzet to get new owners

Crouzet's products include this actuator for the arming system of an armoured ground vehicle. (Tikehau Ace Capital)

French private equity firms Tikehau Ace Capital, Bpifrance, and Société Générale Capital Partenaires have entered into exclusive negotiations to acquire France-based aircraft parts manufacturer Crouzet, the prospective buyers announced on 4 April.

The future owners plan to use their combined financial firepower and Tikehau's “in-depth knowledge of the aerospace industry” to help Crouzet expand into new geographies and new markets, the announcement said. Tikehau's investors include aerospace manufacturers Airbus, Dassault Aviation, Safran, and Thales, as well as shipbuilder Naval Group.

The transaction is expected to close in mid-2022. Private equity firm LBO France has owned Crouzet since 2018.

Founded in 1921 Crouzet employs around 1,300 people and serves commercial and military aircraft, including the Dassault Rafale fighter jet. Its products include cockpit controls, electrical protection equipment, electromechanical actuators, sensors, and switches.

Crouzet has made several acquisitions of its own. It bought sensor maker Garos and switch maker Microprecision Electronics in 2019, and purchased a stake in machine shop Chambon in 2020.