It is done. The Gorgé group announced on Thursday that it had finalized acquisition of iXblue, which joins ECA Group. A successful operation last March under the nose and beard of the Adagia fund and Thales, which would have nevertheless offered a price higher than that of the Gorgé group, according to our information. This operation will allow the emergence “of a European high-tech industrial champion in the fields of robotics, maritime, navigation, aerospace and photonics”, underlined the Gorgé group in a press release published on Thursday. Lare two companies, which will employ 1,500 people, will realize a figure business annual of 250 milliso deuros.
“The managers and employees of iXblue recognize themselves in the industrial project presented by the Gorgé group, explained the CEO of Groupe Gorgé, Raphaël Gorgé, in an interview with La Tribune. They know that they have their place in this new entity and that there are no redundancies. We just want to allow both companies to grow faster”.
Ixblue, an enterprise value of 410 million euros
The acquisition of iXblue, for an enterprise value of 410 million euros, was carried out by a holding company which now owns 100% of iXblue and ECA Group. This acquisition was financed by: a syndicated loan of 185 million euros, half of which is repayable over 6 years and for half ultimately on 6.5 year ; a funding ultimately of 230 million euros brought by the investment fund ICG (Intermediate Capital Groupp) whose a third in the form of bonds and two-thirds in the form of a shares preferably ; and finally, 24 millions of euros contributed by Hervé Arditty, founding shareholder of iXblue, through her holding iXcore.
Consequently, the capital new group is divided as follows at the end of September : Gorged Group holds 62% of the capital (82% of the voting rights) and has the option to redeem all of the instruments financial held by the ICG fund within four to seven yearat a price whose the calculation formula is already determined; 33% by ICG (11% of voting rights); and, finally, 5% by Pierre Arditty (7% of the voting rights).
Rapid growth potential
Together, iXblue and ECA Group will propose to clients a offer going of the components to systems complex for sustain them critical missions in harsh environments. “This acquisition by Groupe Gorgé, which places iXblue and ECA Group under the same roof, will allow us to create new synergies and strengthen our ability to invest in research and development to offer solutions that are always at the cutting edge of the technology “, valued the CEO of iXblue, Fabian Neapolitan.
For his part, the ddirector ggeneral this side Group Dominica Giannoneither explain that “this transaction consolidates our leadership in our markets (…) We see great development opportunities that we look forward to sharing with our customers ». The ECA Group-iXblue combination aims to achieve a turnover of more than 500 million euros and an EBITDA margin of around 25% by 2025-2026.