- Equity capital markets
The UK-based COBHAM Group, established in 1934, is a major global player in the design and manufacture of electronic devices and parts, in the fields of commercial aerospace, defence and security.
The Group employs over 8,000 people worldwide.
TEAM SA is a subsidiary of the COBHAM Group. It is an expert in the design and manufacture of audio and radio management systems equipment, mainly for civil and military aerospace applications. For the fiscal year 2021, the Group generated revenue of €45m and an EBITDA of €19m.
TEAM SA shares are listed on the ACCESS compartment of EURONEXT Paris. Given the small free float, the COBHAM Group no longer considered it justified to maintain the listing and initiated a delisting procedure.
ATOUT CAPITAL advised the COBHAM Group on the launch of a Voluntary Offer to buy back the TEAM shares outstanding on EURONEXT ACCESS at a unit price of €430 per share.
With more than €4.2 million shares tendered to the offer, COBHAM increases its stake to 99.64% of TEAM’s capital and voting rights. At its request, TEAM SA’s shares have been delisted by the market regulator.