France-based Assystem has entered into a deal to buy a 79% stake in Aerotec Concept from owners and co-founders Philippe Marty and Johan Clochet for an undisclosed sum.

Following the completion of the deal, the remaining shares of Aerotec Concept will continue to be owned by its two existing shareholders and co-founders.

Aerotec Concept’s remaining share will also be subjected to put and call options exercisable in the medium term.

With the acquisition, Assystem aims to boost its global product services division.

"With the acquisition, Assystem aims to boost its global product services division."

Upon completion of the deal, both Aerotec Concept and Aerotec will be managed by Philippe Marty and Johan Clochet respectively as chairman and chief executive officer.

This year, Aerotec Concept and its subsidiary Aerotec is expected to earn combined revenue of approximately €8m.

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Mainly involved in the airplane and helicopter revamp and customisation market, Aerotec Concept provides cabin fittings, avionics modifications and connectivity services.

The company’s customer base includes operators of airplane maintenance, repair and overhaul centres, helicopter fleet operators and Tier 1 original equipment manufacturer (OEM) suppliers across the globe.

Aerotec Concept currently has a portfolio of various modification types, including supplemental type certificates.

Through its Aerotec subsidiary, the company also operates a specialised workshop to assemble kits, which are designed for OEM suppliers, fitting out small airplanes and repairing helicopters.

With a global workforce of 12,000 people, Assystem currently assists its clients to develop their products and manage their capital expenditure across the product lifecycle.

In July, Assystem purchased French-based transport, defence and other solution provider Onyx Promavi from its founder Charles Ziz.