Saint Jean Industries

Financing for an amount of € 15.8 millions for Saint Jean Industries, Tier 1 automotive equipment manufacturer, by Berivo, a leasing company created by Chetwode and Acofi and specialised in the financing of strategic industrial equipment.

Founded in 1962, Saint Jean Industries is a family company that operates in the aerospace and automotive industry where it generates 80% of its turnover as a world leading supplier for major automotive manufacturers. As a Tier 1 manufacturer, Saint Jean Industries employs 1900 people worldwide and has a strong international presence (Europe, USA, Japan, Korea). It is specialized in the conception and manufacturing of complex aluminium components. In 2014, the Group registered a turnover of 184 M€.

Due to strong competition in the automotive industry, productivity is a major issue for any component supplier aiming to assert its leading position on the international scene.

In 2013, with a view to optimizing its production equipment, Saint Jean Industries called upon the services of Chetwode to assist in obtaining the financing required for a machining unit for the Ford 1.5 L petrol engine.

By December 2013, at a time when banks were reluctant to intervene in the automotive industry, Chetwode’s technical and financial expertise enabled Saint Jean Industries to equip itself with two Heller machining centres, through the implementation of a lease financing of 1 060 000€.

In January 2015, Saint Jean Industries reaffirmed its confidence in Chetwode as investment advisor, to assist in the strengthening of its capital base: a mezzanine financing was then put in place with IFE Mezzanine, for a total amount of 11 M€.

Later in 2015, to support its international development projects, Saint Jean Industries once again approached Chetwode to support the organic growth of its American subsidiary, due to a substantial order from a major American automotive manufacturer. The combined experience in structuring and funding of Chetwode and its partner Acofi meant that by the end of December 2015, a sale & leaseback funding for 15,8 M€ was put in place by Berivo, on the production equipment of Saint Jean Industries’ American site in Heber Springs (Arkansas).

Christian Georges, Saint Jean Industries CFO states : « following several tranches of financing of varying types implemented between 2013 and 2015, this latest financing transaction with Berivo on our US production tool is the outcome of a seamless partnership with Chetwode : its combined expertise in industrial equipment and sale and leaseback allowed us to put in place this financing under the best possible conditions, despite the high degree of complexity (equipment located in the USA) and benefit from the financial resources needed to sustain our international development».

Simon Hamilton, Chetwode Managing Director, comments: «as investment advisor to Berivo, Chetwode is particularly proud to count Saint Jean Industries among the 10 customers of the fund to date and assist them in the achievement of their financial objectives. This financing is the outcome of a long standing relationship of trust between Chetwode and Saint Jean Industries“.

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