The Lyon-based group Hephaestus, whose main shareholder is MFGI (Michel Fraisse Management and Investment), today announced it has acquired the company Gers Cousso, specialists in aerospace subcontracting.
The Cousso company was founded in 1978 by Daniel Cousso and recorded € 21 million in revenue with 150 employees. The new combined entity will be called Hephaestus-Cousso, and accounts for 41 million euros of turnover for about 300 employees.
The Hephaïstos group itself was part of the Mécapole industrial complex that gathered around MFGI, and includes several ETI and SMEs.
The ambition for the new MFGI Hephaïstos-Cousso entity is clear: the goal is to pass the threshold of 65 million euros in sales by creating 70 jobs in four years in 2020.
“This growth will be driven primarily by the ramp-up of aircraft programs on which we are already positioned and the refresher markets the French fleet of nuclear power plants for which we have been selected by EDF and Areva,” notes and Timothy Fraisse President of MFGI and Mécapole.
MFGI said that the acquisition was supported by BPI France, Grand Sud Ouest Capital, Multicroissance and Helea.