Safran Secures Italian Approval for Acquisition of Microtecnica
Paris, France
– Leading French jet engine manufacturer Safran has received approval from the Italian government to acquire Microtecnica, a specialist in precision gears and actuation systems for the aerospace industry. The deal, which was announced in April 2023, will see Safran acquire 100% of Microtecnica’s shares for an undisclosed sum. The transaction is subject to regulatory approvals in France, and is expected to close in the second half of 2023. Microtecnica is based in Florence, Italy, and is a leading provider of high-precision gears and actuation systems. The company employs approximately 400 people and has annual sales of around €100 million. Safran CEO Philippe Petitcolin welcomed the approval. “Microtecnica is a great addition to our group, and will strengthen our position in the field of precision gears and actuation systems,” he said. “This acquisition is a key step in our strategy to expand our portfolio and become a global leader in aerospace propulsion systems.” The acquisition of Microtecnica will provide Safran with a number of benefits, including: * Access to Microtecnica’s advanced technology and expertise in precision gears and actuation systems. * A wider product portfolio, which will allow Safran to offer a more complete range of solutions to its customers. * A stronger presence in the Italian aerospace market, which is the second largest in Europe. Microtecnica CEO Paolo Manetti also welcomed the approval. “We are delighted to join Safran, a global leader in aerospace propulsion,” he said. “This is a great opportunity for Microtecnica to continue to grow and develop our business.”
About Safran
Safran is a leading international high-technology group in aerospace (propulsion, equipment and interiors), defense and security. Operating worldwide, Safran has nearly 80,000 employees and generated sales of €18 billion in 2022.
About Microtecnica
Microtecnica is a specialist in precision gears and actuation systems. The company has approximately 400 employees and generated sales of around €100 million in 2022.
Safran Receives Italian Approval to Acquire Microtecnica
Paris, France – February 23, 2023
Safran, the French aerospace and defense company, has secured approval from the Italian government to acquire Microtecnica, a leading manufacturer of precision mechanical components for aerospace and other industries. The acquisition, which is expected to close in the coming weeks, will strengthen Safran’s position in the global aerospace supply chain. Microtecnica’s capabilities in high-precision machining, additive manufacturing, and surface treatment will complement Safran’s existing expertise in engine and equipment manufacturing. “This acquisition is a strategic move for Safran as we continue to expand our portfolio of products and services,” said Philippe Petitcolin, CEO of Safran. “Microtecnica’s expertise and market reputation will be a valuable asset for our customers.” Microtecnica, headquartered in Turin, Italy, has over 50 years of experience in precision manufacturing and employs approximately 450 people worldwide. The company specializes in high-value components for aircraft engines, landing gear, and other critical aerospace applications. “We are very excited about the opportunity to join the Safran group and contribute our expertise to one of the world’s leading aerospace companies,” said Giovanni Nicolino, CEO of Microtecnica. “This acquisition will provide us with access to new markets and resources that will help us continue to grow our business.” The acquisition is subject to customary closing conditions, including regulatory approvals in other jurisdictions.