GROUPE GORGE – Groupe Gorgé shareholders approve the simplification and transformation of the group, which has become Exail Technologies – 08/12/2022 – 17:45
Groupe Gorgé announced the approval of all the resolutions put to the vote at the Joint General Meeting held today in Paris. The group’s shareholders voted 99.99% in favor of the sale of the activities of the Engineering & Protection Systems division, for the value of shares of €27.4 million, to the Pélican venture, a family company Throat1. This operation is the last step in the simplification of the group’s activities initiated in 2018. The specific terms of the operation were announced on October 24, 2022 in a dedicated press release (link) and were the subject of an independent report expertly drawn by Crowe HAF (Olivier Grivillers).
The use of the sale proceeds will be studied by the Board of Directors after the end of the sale process, which should take place before the end of the first quarter of 2023. There are no plans to invest this cash in new branches of ‘activity .
As part of this transaction, shareholders also approved the change of the group’s corporate name, which now becomes Exail Technologies, taking the name of its main subsidiary. Thus, Exail Technologies will start the year 2023 with increased readability and simplification of its structure. The group’s focus on Exail activities, which are more profitable, have good visibility and are positioned in dynamic markets, should significantly improve the group’s economic performance and profitability ratios. Following this name change, the company’s stock ticker code will become EXA.
Two new independent directors, Julie Avrane and Pierre Verzat, were also appointed at this General Meeting to strengthen management and reflect the group’s transformation. Their experience in strategy integration, growth and post-acquisition issues within the innovative technological sector of the industry is particularly relevant in the current context of the merger between ECA Group and iXblue.
Biography of Julie Avrane and Pierre Verzat
Julie Avrane graduated from the National School of Telecommunications in Paris and the College of Engineers. He also has an MBA from INSEAD. Senior Associate Director of McKinsey & Company, in the Paris office from 1999 to July 2020, Julie Avrane led the firm’s Advanced Industries business unit in France (advanced electronics, aerospace and defense, automotive and assembly industry). He also co-hosted the high tech and telecom skills center at the European level.
Before joining the McKinsey office in Paris, Julie Avrane notably worked as a researcher at Bull Honeywell in the United States in 1993 then Cogema (Areva) in 1994 and as a business analyst within the McKinsey office. in London for two years from 1995 to 1997.
Pierre Verzat is an engineer from Ecole Polytechnique and ENSTA, and started his career in 1986 as a naval engineer specializing in nuclear propulsion. In 1992 he became CEO of BEA (Dalkia Group), before joining the AREVA group as CEO of ELTA then SVP Industry, Transport and Environment of Technicatome. He joined the EADS team in 2005 as SVP Engineering and Industry of Astrium Space Transportation and then Chief Operating Officer of Astrium Space Services. Since 2011 he has been the Chairman of the Management Board of SYSTRA Group.
In 2016, Pierre Verzat received the European CEO of the Year award from the Association for Consultancy and Engineering (ACE) in the United Kingdom. He is a Knight of the Legion of Honor. Since 2018, he has been the Chairman of Syntec-Ingénierie.
About Exail Technologies
Exail Technologies is an industrial company specializing in advanced technologies in the fields of autonomous robotics, navigation, aerospace and photonics. Based on a strong entrepreneurial culture, Exail Technologies provides performance, reliability and safety to its civil and military customers operating in harsh environments. From the bottom of the ocean to the far reaches of space, the group enhances the capabilities of its customers through its components, products and systems. Exail Technologies generates its revenues in nearly 80 countries.
Exail Technologies is the new name of Groupe Gorgé, adopted following the merger of the companies ECA Group and iXblue, which are now united under a common banner.
Exail Technologies is listed on Euronext Paris Compartment B (EXA).
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 In accordance with regulations, the Gorgé family, main shareholder of Groupe Gorgé (indirectly through Pelican Venture and directly), did not participate in voting on the proposed sale during the Joint General Meeting.