Sogeclair purchases 80 per cent of Montreal’s MSB Group
Nov. 25, 2014, Montreal - Sogeclair has announced it has purchased 80 per cent of Montreal-based precision engineering company MSB Group, for an undisclosed amount.
The management of the MSB Group, which consists of the engineering division MSB Design and the contract engineering company MSB Ressources Globales, made the decision to join Sogeclair following discussions with a number of potential purchasers. Under the terms of the new agreement the MSB Group, will form the second largest division of the Sogeclair company portfolio.
Mario Sévigny Co-Founder of MSB, and Phillipe Robardey, CEO of Sogeclair signed the deal on November 14 in Montreal. Sévigny will become Vice President of MSB Group. He will be responsible for running (day-to-day) operations of the North American business reporting directly to Marc Darolles, President of MSB Group. Patrick St-Louis previously President of MSB Ressources Globales for Insourcing, will take up the new role of Vice President Strategic Programme and Customer Relationships. Both will remain key shareholders.
The deal brings a number of benefits to both companies. Operationally MSB Group will retain its team, the organizational structure and will benefit from increased financial resources for the development of large value projects. In addition Sogeclair’s European presence and international network will widen MSB’s global footprint and accelerate development in America. Sogeclair has mainly focused on the commercial sector of aviation so the deal will expand its business aviation network in which MSB is already well established. It is anticipated that the mutual cultures of innovation will provide employees with leading-edge expertise and create opportunities to share knowledge skills.
“MSB has expanded rapidly in the last five years and we were ready to move on to the next level,” says Sevigny of the reasons for the deal, “We have been approached by a number of companies in the last year but the size, market knowledge and technical expertise of Sogeclair perfectly complemented what we do and we are delighted to part of this major aerospace organization.”
Philippe Robardey, President and CEO of Sogeclair adds, “The complementary, in terms of segment, commercial aviation verses business aviation; know-how, interior cabin verses structure and architecture; and market, North America verses Europe, allows us to anticipate that there will be many more opportunities for both companies as a joint force, rather than independent entities. We are excited about all the future possibilities.”