TOULOUSE, FRANCE – Latécoère has entered into a definitive agreement to acquire electronics manufacturer Malaga Aerospace, Defense & Electronics Systems for an undisclosed sum.

Malaga provides printed circuit boards for high-reliability applications across defense (~80% of sales), commercial aviation and industrial end markets (~20% of sales). The firm employs 100 staff in Spain.

Latécoère provides electrical wiring interconnection systems.

"I am delighted with this transaction. This is great news and an exciting adventure for both management teams and employees,” said Thierry Mootz, CEO, Latécoère. “MADES is a market-leading company with effective management and first quartile operational and customer performance. Following the acquisitions of SDM in Mexico, and TAC in Belgium, this is the third acquisition since the capital increase completed in August. MADES is developing our position in the US defense market segment and will create significant synergies within Latécoère's interconnection systems division, as well as reinforcing our number one position for avionic racks. We are continuing to accelerate the external growth strategy announced at the time of the capital increase, and are thus realizing our ambition to serve the aerospace industry with innovative solutions for a sustainable world."

"This transaction marks an important milestone for MADES and its stakeholders,” said Leonard M. Levie, chairman, AIAC. “We are justifiably proud of the achievements of the MADES team. Latécoère is an exceptional company within the aerospace industry, and its stewardship will allow MADES to climb to new heights."

Latécoère will provide further market disclosure upon closing of the transaction, which is subject to a number of commercial and regulatory conditions, including the approval by the Spanish Council of Ministers pursuant to defense foreign direct investment regulations, which is anticipated during the first half of 2022.

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