DCNS acquires interest in Principia
10 Sep 2010
Principia, a consultancy specialising in naval and maritime technologies, has been acquired by a consortium comprising DCNS, two businessmen with vast experience in the international offshore oil sector and the company's management team, each now holding a one-third interest. This acquisition will strengthen DCNS's hand in ‘scientific engineering', a field of vital importance in naval design and innovation.
The operation will give Principia access to naval and maritime industrial resources contributing to its continuing growth in France and worldwide in areas ranging from naval and offshore engineering to marine renewable energy and industrial risk management.
Principia, on the other hand, will give DCNS access to know-how enabling the Group to meet the growing demand for technical appraisals in its own core areas of expertise and in growth areas like marine renewable energy. The company's in-depth knowledge of the offshore oil industry will also find applications in naval engineering.
The players participating in the acquisition of this former subsidiary of Areva TA are:
- DCNS, representing the naval sector, dual military/civil technologies and marine renewable energy (interest: 1/3)
- Messrs John O'Leary and Didier Germain, two businessmen with international experience in offshore oil and metal structures (interest: 1/3)
- Principia management team, to ensure continuity of operational growth (interest: 1/3).
The new management structure will consist of a management committee chaired by a DCNS appointee.
"I am very pleased that Principia has been acquired by international partners that are used to working directly with our main clients. I feel that our new shareholder base augurs very well indeed for the company's continuing growth," says Benoît de Moulliac, CEO of Principia.
"This acquisition is entirely in line with DCNS's championship growth strategy as it aims to strengthen our resources in technological innovation and excellence. DCNS has worked with Principia on highly specialised naval projects for almost 20 years. Today, we move on to a new phase," says DCNS SVP, Strategy & Development, Andreas Loewenstein.
About Principia
Principia is a scientific engineering consultancy specialising in naval and maritime technologies. The firm's main customers are in the naval and offshore sectors and industrial risk management. Services range from design studies, numerical simulation and equipment monitoring and tests to R&D and high-level training. The company has a staff of around 120 and is headquartered at La Ciotat on France's Mediterranean coast. Other centres include the former Institute of Research and Shipbuilding (IRCN) in Nantes and a Singapore-based subsidiary for business activities in Asia. www.principia.fr
PRESS CONTACTS
Emmanuel Gaudez
+ 33 (0)1 40 59 55 69
emmanuel.gaudez@dcnsgroup.com
Virginie Lemière
+ 33 (0)1 40 59 53 57
virginie.lemière@dcnsgroup.com
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