2019 HIGHLIGHTS and 2020 OUTLOOK
When Arkéa Capital Partner acquired an interest in the Legris family holding company at the end of 2018 alongside Pierre-Yves Legris, it signaled our commitment to accelerate our growth strategy of acquiring mid-size European companies in industries built on high-tech expertise. In 2019, this opened a new chapter in the Group’s development with the acquisition of two very desirable businesses: MEP Group, an Italian producer of machine tools for precision metal cutting, and Laulagun Bearings (LLB), a Spanish producer of slewing rings used primarily in the wind power market.
Together, these acquisitions boosted Group sales by 75% full year, while expanding our scope of operations from three to five Divisions. Backed by an updated pool of banks and other financial institutions created to finance the Laulagun Bearings acquisition and refinance debt taken on to acquire Schiederwerk, we have pursued this growth strategy, and in 2019 reported pro forma sales of €288 million.
Groupe Legris Industries now consists of five Divisions, all active on international markets as technology leaders and major players in their respective fields.
In 2020, we will focus primarily on structuring these activities to help all five Divisions consolidate positions in their respective markets and keep pace with expected growth in each business area. There is major scope for organic growth for both the Group and for each Division, as seen in Laulagun Bearings’ launch of operations in India, where it has been producing slewing rings for the local wind energy market since February 2020, supporting major clients in a fast-growing market.