DUBAI—Revima is in growth mode, as evidenced by a new private equity investor, scheduled to close in March, and the purchase of two businesses at the end of January.
The first acquisition is Chromalloy France, which Revima will use to expand the types and number of repairs it can perform on APUs. Chromalloy France already uses special coatings and brazings on small engines that Revima will be able to leverage for APUs, as well. For instance, Chromalloy France invested in thermochemical furnaces that allow super alloy coating depositions and in additive manufacturing, which could be used to rebuild the knife edge of air seals to their original dimensions, says Olivier Legrand, Revima’s president.
Growing those additive manufacturing capabilities internally or through partnerships is something Legrand hopes to achieve in the future.
Revima also purchased Flight Watching, a Toulouse-based company specializing in data analytics for predictive maintenance. The MRO had been working with Flight Watching for a few years to provide customers with real-time visibility into APU operations. Through this acquisition, Revima hopes to extend its digital services to other components, as well.
Legrand says Revima’s sales have grown 40% from 2016-18, with landing gear MRO fueling a lot of that. While Argos Wityu invested in Revima about 1.5 years ago, he says the company was reaching its equity limit and needed further investment to continue expanding. Ardian, the largest private equity firm in France with $82 billion in managed assets, should fill that role, says Legrand. That deal is expected to close in March. Argos Wityu will then become a minority shareholder.
In addition to these acquisitions, Revima is expanding in Asia to support customers in region. Construction of its $30 million facility in Chonburi, Thailand began construction in October and is scheduled to open the first quarter of 2020, says Legrand. That facility will be capable of repairing landing gear. Landing gear has fueled the majority of Revima’s growth to date, especially those for single-aisle aircraft. Four years ago, Revima maintained 30 landing gear legs and last year that number was 200. For widebody aircraft, Revima maintains landing gear on 777, A330, A380 and 787 aircraft.