November 08, 2022

Latécoère acquires Avcorp Industries Inc.

Goodmans LLP acted for Latécoère S.A, a Tier 1 partner of the world's largest aircraft manufacturers, in connection with the acquisition of Avcorp Industries Inc., a Canadian-domiciled company that builds major airframe structures for leading aircraft manufacturers.

Latécoère acquired all of the issued and outstanding common shares of Avcorp in exchange for cash consideration representing a 16% premium to the closing price of Avcorp’s common shares on the Toronto Stock Exchange on May 4, 2022. The transaction was implemented by way of a court-approved plan of arrangement under the Canada Business Corporations Act.

The acquisition of Avcorp strengthens the Latécoère Group's Aerostructures business through the access to key aircraft platforms (B737 Max and F-35), an expanded product portfolio including wing sub-assemblies, and the production capabilities for large-scale composite parts.

This acquisition is part of Latécoère’s 2025 roadmap to achieve profitable growth and participate in global aerospace industry consolidation. It follows a number of external growth transactions initiated by the Group in 2021 and continued into 2022 with the acquisition of MADES and the investment in Figeac Aéro’s Mexican activities co-located with Latecoere Mexico.

These acquisitions have enabled Latécoère to:

Strengthen its manufacturing presence in North America and improve geographic proximity to customers such as Bombardier and Boeing; and
Significantly increase the Latécoère Group’s exposure to the defence sector, with the Latécoère Group's revenues increasing from circa 5% to 15% in this profitable and growing market.

Goodmans LLP continues to be a leader in the corporate and M&A space, bringing strength to advising major multinational corporates and financial institutions involved in high-value, multi-jurisdictional M&A, reorganisations and corporate governance matters. — The Legal 500 Canada
Goodmans have excellent subject matter expertise and actionable strategy and advice. They give deep confidence of their ability to capably handle complex and sophisticated matters. — Chambers Canada
The corporate and commercial team has impressive depth with experienced and highly skilled counsel at all relevant levels, from senior partner to junior associate. — Chambers Canada
The Corporate/Commercial team at Goodmans make it seem as though we are their only client. They are our go-to external corporate-commercial counsel. — Chambers Canada
Clients note, "They have a good team of very experienced lawyers who know the process, " adding, "They have a good bench strength." — Chambers Canada
Clients note, "They get our business and what we're trying to accomplish. It's not just technical advice." — Chambers Canada
One interviewee reported, "The Goodmans team as a whole is excellent," adding: "The lawyers are very responsive and get the job done. It is of great assurance to have them as our legal advisers." — Chambers Canada
One client noted, "...they handled a very complicated transaction involving many jurisdictions and did a very good job. They are always able to make comparative decisions through a relatively simple way and try to balance risk and find solutions." — Chambers Canada
Clients note, "The client service at Goodmans has always been excellent, and they are very deep from a corporate and financing perspective." — Chambers Global
Interviewees praise the firm's work on cross-border matters, saying: "The team's coordination is superb, its work ethic unparalleled and the service excellent." — Chambers Global
One client noted, "very strong legal minds, focus in on the business issues...good communicators, include my internal team as much or as little as we may want on a particular project." — IFLR1000
....punches above its weight for big-ticket M&A in Canada, recently advising on substantial transactions in mining, energy, technology and cannabis sectors. — Chambers Global
Clients commend Goodmans for being, "very entrepreneurial in their culture, in addition to being able to provide sophisticated and excellent legal assistance." — Chambers Canada

Site Search

Latécoère acquires Avcorp Industries Inc.

Expertise

Mergers and Acquisitions

Featured Work

OMERS sells majority interest in CEDA to Hillcore Group

InterRent REIT to be acquired by consortium that includes CLV Group in partnership with GIC in $4 billion all-cash transaction

WonderFi Technologies Inc. to be acquired by Robinhood Markets, Inc.

Onex to sell WestJet stakes to Delta and Korean Air

Apex Group Technologies Inc. to acquire a controlling stake in MapsPeople

BSR REIT completes strategic asset sale with Avalon Bay Communities Inc.