What we did
- Worked closely with Air Liquide to structure a deal offering a sustainable future for the asset to be disposed
- Started by a detailed review of the transaction scope, to define and prepare a carve out scenario workable for both parties
- Provided day-to-day operational assistance to Air Liquide teams from deal preparation, initial negotiations, legal documentation negotiations to works council information/communication mandatory procedure
About the deal
Air Liquide is the world leader in gases for industry, health and the environment. Present in 80 countries with 49.500 employees, Air Liquide Group revenue amounts to € 15.3bn in FY12. Air Liquide is Listed on Euronext, and a key value of the CAC 40.
Air Liquide Welding, one of Air Liquide business units, is a European leader in the field of welding and cutting solutions. Air Liquide Welding developed in the early 80’s a robotics business focusing on the design, manufacturing, integration and maintenance of arc welding robotic solutions, mainly sold to French and to a lower extent Spanish industrial SMEs. After having completed a strategic review of its activities, Air Liquide Welding decided to exit its robotics’ operations (reporting about €8m in sales in FY12 and 50+ skilled employees) to an industrial player able to grow the business.
Groupe Gorgé is a French Group (listed on Euronext) providing high value-added technological systems and solutions for the Defense, Aerospace and Nuclear industries. Groupe Gorgé has generated €209M revenues in FY12. The acquisition of Air Liquide’s robotics operations by Cimlec Industries (Groupe Gorgé’s main industrial services subsidiary) will create a major robotic solutions player on the French market.