An acquisition allowing GAZC to expand its production base internationally
⁄ In September 2024, the shareholders of GAZC, a Spanish company offering design and manufacture of
machined detail parts for the major OEMs and Tier1s of the aerospace industry, decided to acquire 70%
Equity shares of Pranavam Aerospace Private Ltd., an Indian manufacturer of detailed parts of aircrafts
and its sub-assemblies.
⁄ GAZC, established in 1998, has a long history of commitment to innovation and quality in the field of
aerospace components. The company is approaching a turnover of €100 million in 2024 with a team of
more than 500 specialists offering services to ensure program management, supply chain management,
lean manufacturing and ad-hoc logistic solutions to its customers. With its strong values, the company
has a passion for excellence, quality and customer satisfaction.
⁄ This first acquisition outside Spain enhances GAZC’s production capabilities. Pranavam, based in
Bangalore India with great facilities counts around 100 employees. The expected turnover for fiscal year
2024-25 is approx. $6M. This strategic acquisition will strengthen the GAZC’s leading position as a
global supplier in the aerospace industry.
⁄ Under the agreement, GAZC has acquired 70% of shares of Pranavam, leading to the creation of a new
entity GAZC-Pranavam which will operate within the GAZC holding. It marks a significant milestone in
the international growth of the group.
A transaction supported by Altios Corporate Finance
⁄ Altios Corporate Finance advised GAZC on the transaction for the majority acquisition of Pranavam
Aerospace Private Ltd.
⁄ The mandate consisted in valuing and analyzing the financial situation of Pranavam Aerospace Private
Ltd., carrying out due diligence, assisting with the negotiation phase and preparation of contractual
documents (Term sheet, Share Purchase Agreement, Shareholders’ Agreement), in accordance with the
parties’ agreements and the requirements of Indian law.
⁄ The role of Altios Corporate Finance:
o Financial analysis and valuation of the target company
o Due diligence
o Support in negotiating and preparation of Term sheet, Share Purchase Agreement,
Shareholders’ Agreement & other contractual documents
Testimony of GAZC
“We had the opportunity to meet the ALTIOS team who presented their services to assist our company in the M&A process. We have been happy to collaborate, the team was dedicated, the management of the project has been handled in a perfect way to let us work on what was our expertise. Altios will continue supporting us during the integration of Pranavam into the group.“
Rafael Domínguez, CFO at GAZC
Testimony of ALTIOS Corporate Finance
“We are pleased to have concluded this first international acquisition for GAZC. The acquisition of Pranavam, marks a significant milestone in its external growth strategy and will enable the company to become a global leader in its sector. The start of a successful international expansion, to be continued!“
Praveen Singhal, Managing Director at ALTIOS India
Participants
Buyer’s advisors:
➢ ALTIOS India Corporate Finance (M&A): Praveen Singhal
➢ ALTIOS India Legal Advisor: Dhrub Thakur
➢ ALTIOS India Finance and Tax Advisor: Sanjeev Kumar
➢ ALTIOS Spain: Kasia Dzwonnik
ALTIOS CORPORATE FINANCE: Support to accelerate the growth of SMEs through a targeted acquisition strategy and international integration. With a presence in 22 countries and a network of 35 subsidiaries, Altios Corporate Finance focuses on buy-side transactions.
Contact Press: Alexandre Kaplan, M&A Director, a.kaplan@altios.com
