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06/2026

AUBERT & DUVAL acquired by AIRBUS & SAFRAN

FRANCE Chemicals & Materials / Material Transformation / Metallurgy / Foundry REV 500M - 1b EUR

Context

Tikehau Capital has entered into an agreement to divest its stake in Aubert & Duval to its two industrial co-shareholders, Airbus and Safran, marking the end of a four-year partnership that saw a significant restructuring of the metallurgical equipment manufacturer. In 2022, Airbus, Safran, and Tikehau each acquired approximately one-third of the group through an investment vehicle established to support the aerospace industry following the COVID-19 crisis. At the time, the company was facing substantial operational challenges, including disorganized production and significant losses, which directly impacted its major industrial clients. Since the takeover, a major industrial transformation plan has been implemented, focusing on modernizing production facilities, rationalizing sites, and strategically refocusing on titanium alloys and critical materials. This restructuring has been accompanied by a gradual improvement in financial performance, with revenue nearly doubling. Tikehau's exit is a logical move, with Airbus and Safran acquiring the stake on a parity basis, thereby consolidating their industrial control over a strategic supplier to the European aerospace chain. This transaction is part of a broader strategy to secure critical supply chains and strengthen industrial sovereignty in a sector marked by persistent material shortages.

It is worth noting that the fund Tikehau Capital / Safran / Airbus took control of Aubert & Duval through an LBO in 2023.

AUBERT & DUVAL, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Industry & Manufacturing sector (11.2x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Aubert & Duval is a French company that designs, produces, and transforms complex metallic materials, including special steels, superalloys, titanium, and aluminum, for critical sectors such as aerospace, defense, energy, and medical. The company has a recognized expertise across the entire value chain, from material design to forged part manufacturing. Aubert & Duval employs approximately 4,400 people across ten industrial sites, with eight locations in France. The company's activities are focused on providing high-quality products to its clients, including Airbus and Safran, and it has recently shifted its focus towards titanium parts. Aubert & Duval's production apparatus has been heavily modernized and rationalized, allowing the company to achieve significant improvements in its operations. The company's customer base includes major players in the aerospace and defense industries, and it plays a crucial role in the French and European industrial sovereignty.

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Historical Financials (EUR)

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Other operations with AUBERT & DUVAL

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
04/2023TIKEHAU CAPITAL / SAFRAN / AIRBUSAUBERT & DUVALFRANCEChemicals & Materials

Airbus, Safran, and Tikehau Capital have completed the acquisition of Aubert & Duval from the Eramet group, marking a landmark transaction for the European critical metals industry. This deal is part of a joint investment vehicle established by Airbus, Safran, and Tikehau Capital, with the support of public authorities, to secure the industrial sovereignty of the aerospace and defense sectors

REFERENCES

Revenue range: 500M - 1b EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of AUBERT & DUVAL by AIRBUS / SAFRAN are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: aubert & duval

Acquirer: safran / airbus