Bodycote “Optimise Programme” Leads to Changes at 10 French Locations
(Editor’s note; “Bodycote” is the world’s largest commercial heat treater. Details about the firm’s “Optimize Programme” can be found at “Bodycote sees improving momentum as aerospace demand strengthens”)“Macclesfield-based listed company, Bodycote, has completed the sale of ten non-core sites to French asset management company, Arcole.
The provider of heat treatment and specialist thermal processing services said the sites are based in France and are focused on heat treatment for automotive and industrial markets.
The cash consideration for the deal is €22m.
The completion of this deal marks an important milestone in the execution of the group’s Optimise programme, which at full run-rate in mid-2027 will deliver an operating profit benefit of at least £15m, with net programme cash costs of £10-15m.
Chief executive, Jim Fairbairn, said “This transaction brings in considerable proceeds and is a key step in the delivery of our Optimise programme.
“It accelerates our efforts to transform the group’s portfolio and to create a higher quality, more resilient and faster growing Bodycote.”
In a trading update earlier this week the group said it is building a pipeline of mergers and is confident it will accelerate growth through attractive bolt-on acquisitions.
The group said it expects to deliver a stronger profit performance in the second half of the year driven by further growth in Aerospace & Defence, improved Specialist Technologies trading and increasing benefits from the Optimise programme.”