In connection with the rehabilitation proceedings it initiated at the end of May 2019, the Evry Trade Court has approved the disposal of BERNIER's assets to the HEICO group.
Created in 1933 by Raymond BERNIER, the eponymous company specialises in the design and manufacture of connectors for harsh environments. Known for their reliability and robustness, the firm's products are particularly suited to the needs of land forces, civil and military aviation and critical industries. Boasting more than 80 years of know-how, BERNIER generates over 65% of its revenue from exports to more than 40 countries and employs around 30 people.
A year ago, despite running profitably, the company was placed under provisional administration in unprecedented circumstances, its accounting documents no longer being certified. To preserve BERNIER's jobs and business, provisional administrator FHB initiated a buyer search process, appointing ADVISO PARTNERS to oversee and perform this task. Given the asset's quality, the process attracted a wealth of industrial and financial bidders and resulted in a large number of binding offers, which were presented to the Evry Trade Court within the framework of a pre-pack procedure.
In early July, the Evry Trade Court decided to accept HEICO Group's proposal. This deal will enable BERNIER to benefit from the R&D capabilities and distribution network of the Group's European subsidiary, HEICO 3D PLUS. HEICO is also strengthening its connectors division, which is mainly active in North America.
Through this transaction, ADVISO PARTNERS continues to develop its know-how in restructuring and special situations financial advisory services.
