The Groupe Méaban owns 51% of Babb Co’s capital
Published on 06 janvier 2012
As from 01/01/2012, the Groupe Méaban (holding of Socomore) owns 51% of Babb Co’s capital. HBC – the other Babb Co shareholder owns the remaining 49%
This investment follows the strategic willingness of the Groupe Méaban to become a worldwide major key in the treatment, preparation and protection of “critical” surfaces – surfaces, that with a wrong treatment could have an impact on the lives of future users.
The NDT (Non Destructive Testing) product ranges sold by Babb Co belong to this group and complete the ranges of other Groupe Méaban’s subsidiaries. The products of the two companies are aimed at the aerospace, energy, automotive, railway and nautic markets. The merge of both companies will finance the development of new products and extend their geographic territory to support customers located throughout the world.
The two companies have been cooperating since a long time to develop. Groupe Méaban has held in the past a minority stake in Babb Co’s capital since 2008. They share much in common:
- They formulate, produce and sell their product lines by putting priority on customer satisfaction and presence.
- Their products meet strong customer requirements and are approved by major industrials: their products are referenced in the manufacturing process of manufacturers and their subcontractors.
- A similar philosophy of business and employees management.
Corporations will continue to operate independently and without impact to their customers and suppliers. Marc Desvignes remains the Babb Co’s CEO and HBC shareholder. Frédéric Lescure, Chairman and Chief Executive Officer Méaban welcomes this new stage: "We are confident that this merger will benefit both companies'.
Babb Co, based in Plaisir (near Paris) since 1952, formulates and sells products and materials of Non Destructive Testing by penetrant testing, magnetic particle testing and radiographic inspection mainly for aerospace and nuclear industries.The company has 31 employees and realises 20% of turnover outside France.
Groupe Méaban, based in Vannes (56) since 1998, formulates et sells surfaces preparation and protection products such as paint strippers, degreasers, deoxydizers, solvents before painting and bonding, sol-gel products for aerospace and transport industries. The company employs 105 people and realises 35% of its turnover abroad through 8 SOCOMORE and MAGCHEM subsidiaries (Germany, Spain, UK, Russia, 2 in China, Poland, Canada) and its 2 sales offices in Italy and Brazil.
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