The Gorgé family will take over the Engineering & Protection Systems division, which will allow the listed group’s activity to focus even more on robotics and high-tech critical systems. In sight, a name change. The company will subsequently change its name.
Groupe Gorgé will sell its Engineering & Protection Systems division, soon to be called Exail | Photo credits: ECA
Groupe Gorgé announces this Monday, after the closing, its intention to sell its Engineering & Protection Systems (ISP) division to the main shareholder of the company, the Gorgé family, for a value of the shares of 27 million euros, to from an enterprise value of 47 million (the entity was loss-making of 3.4 million euros in 2021 and 1.4 million in mid-June of this year).
A new way for the company to simplify its structures and further identify the group’s main activity, focused on robotics and high-tech critical systems, particularly in the naval and maritime field. On this occasion, Groupe Gorgé will be renamed Exail Technologies “ to reflect the completion of its transformation “.
Positive effect on results
” The combination of iXblue with ECA Group (a subsidiary of Groupe Gorgé), has led to the emergence of a world industrial champion in high technology specialized in robotics, maritime navigation, aerospace and photonics, which now operates under a brand unique, Exail, replacing the ECA and iXblue brands “, explains Groupe Gorgé in its press release.
” The sale project has been the subject of a report on the value of the division and on the fairness of the sale price by an independent expert and will be submitted for the approval of the shareholders during a mixed general meeting which will take place December 8, 2022 “, is it still indicated. For Groupe Gorgé, this disposal would thus enable the receipt of 27 million euros in cash, corresponding to the value of the securities sold from the ISP division, and would have a significant positive impact on the group’s net income. The company’s growth and profitability profile would also be improved.