Le Plessis, January 20th, 2023
CS GROUP announces that it has finalized the acquisition of 100% of the capital of HE SPACE, a specialist in space engineering.
Ranked as a top supplier to ESA in the fields of component engineering, earth observation, communication and awareness, structures, thermal engineering and environmental testing, HE SPACE is expected to achieve sales in the order of €28 million in 2022, in growth of about 16% compared to 2021, with an estimated EBIT of more than 6%, and has more than 270 employees.
CS GROUP, which is already among the top 5 European players in space engineering and covers all areas of space (earth observation, navigation, telecoms, science and exploration), throughout the life cycle of its customers’ systems (upstream studies, development and acceptance of systems, exploitation and intelligence in the use of data), is thus strengthening its European presence.
The new entity thus formed has nearly 800 employees in the space sector, with sales of around €90 million, 50% in France and 50% in Europe (the Netherlands, Germany, Spain and the United Kingdom), with a stronger presence amongst institutional organizations such as ESA’s ESOC and ESTEC agencies, EUMETSAT, and manufacturers such as Airbus, Thales and OHB.
“We are particularly pleased to welcome the HE SPACE teams to CS GROUP to build together one of the European leaders in space engineering. This acquisition is in line with the objectives of our Vision 2024 strategic plan and is in phase with the industrial merger project we are carrying out with Sopra Steria. Our combined teams will be able to support our European customers in the success of their missions,” said Eric Blanc-Garin, CEO of CS GROUP.
The group points out that the acquisition is based on an Enterprise Value of 11.5 M€, financed with the group’s available cash.
About HE SPACE
Founded in 1982 by NASA veteran Scott Millican, HE Space is a leading space engineering specialist with a long history in the space industry and has been ranked as an ESA Best Supplier. Since its inception, HE Space has grown steadily in both size and reputation, building a strong customer base and securing several long-term framework contracts with leading space companies and institutes.
HE Space supports its European space customers in engineering, project management, science and support services throughout the life cycle of space missions. The company is headquartered in Noordwijk, The Netherlands, and operates internationally in Germany, France and the UK. HE Space has more than 270 employees made up of engineers and PhDs, 55% of whom are women, and is strongly committed to social and environmental responsibility, including through the HE Space Children’s Foundation to promote access to education.
About CS GROUP
CS GROUP is a major player in the design, integration and operation of mission critical systems. CS GROUP is listed on the Euronext Paris – Compartment C market (Shares: Euroclear 7896 / ISIN FR 0007317813).
For more information: www.csgroup.eu
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