Socomore announces that it has signed an agreement for a majority stake of 75% in the company Flamemaster Corporation, the last independent supplier of aeronautical sealants, for fuselages, fuel tanks, access doors and windshields applications.
Acquisition of Flamemaster…
In line with its strategic ambition, Socomore is strengthening its portfolio of aircraftable products for aircraft manufacturing (OEM) in North America, but also for the civil and military maintenance (MRO) market. With the acquisition of Flamemaster, Socomore is also positioning itself to provide an expanded range of solutions on the European market, with sealants complementary to its existing ranges for preparations, protections and surface treatments, coatings, non-destructive testing, traceability of materials and solutions.
… Growth drivers and synergies
This merger will allow Flamemaster to have growth drivers in Europe and Asia, through the synergies developed. The two companies are already working together since the collaboration between the two entities began in September 2019 with the signing of a JDA (Joint Development Agreement) for the development of innovative products. This JDA was accompanied by a gradual increase in capital (27% at the start of 2023) to reach 75% in July. This collaboration continues with the creation of industrial capacity (packaging, quality control), in the Socomore factory in Elven, in Brittany. With this acquisition, Socomore now employs 400 employees (including 40 Flamemaster employees) and will achieve a turnover in 2023. turnover of around €100 million, including 50% in Europe, 40% in North America, 10% in the rest of the world.
