December 21, 2006 (Paris) - Souriau SAS, has signed a binding agreement for the acquisition of the US operations of Pacific Aerospace & Electronics Inc. The transaction remains subject to US governmental authorizations and is expected to be completed by March 2007.Based in Wenatchee, Washington, the US operations of Pacific Aerospace & Electronics (PAE) design and manufacture technically demanding hermetic connectors, ceramic and metal components and assemblies, and advanced microelectronic packages.
PAE’s performance-critical components are used in harsh operating environments common to the defense, aerospace, oil and medical industries.PAE has developed a number of advanced and proprietary technologies, such as ceramic-to-metal hermetic sealing and an explosive metal bonding process applied to connexion systems.The company has approximately 170 employees and generates approximately $21 million in annual revenue.This operation will create a world leader in extreme environment interconnection systems bringing new innovative products to the market. The complementarity and the quality of their customer base will enable both SOURIAU and PA&E to accelerate their growth.
About Souriau
Souriau S.A.S. controlled by Sagard is Europe’s leading connector manufacturer dedicated to the industrial, military and aerospace markets.
A specialist in extreme environment connectors, the group participates in key international aerospace and military programmes and has strong industrial positions in the instrumentation, railway, robotics, nuclear and geophysics markets.Souriau employs around 1700 people worldwide. The group operates industrial sites in France; US; Japan; Morocco, India and the Dominican Republic and is further supported by a network of commercial offices in over 15 countries.
About Sagard:
Sagard is a Private Equity specialist entirely based in Paris. Sagard typically invests in transactions ranging from €100 to €500 million across French speaking Europe. Funded by a select group of industrial families together with prestigious financial institutions, Sagard has a strong industrial focus and heritage and a flexible investment horizon. Sagard’s investment focus and philosophy centres 2/2 upon investing alongside high quality management teams and supporting them in the execution of value-creating industrial projects.Transactions led over the last three years comprise HMY, CEPL, Kiloutou, RLD and Olympia together with investment in Faiveley Transport and Médi-Partenaires.