Altead: What future for the leader in boat transport?

Altead specializes in exceptional transport for water sports

The Altead group, a specialist in exceptional road convoys and a leader in boat transport, is in receivership. It should be fixed on the name of a buyer by the end of July 2019.

The carrier Altead waiting for a buyer

The Nantes-based group Altead was placed in receivership at the end of May 2019. Owned by its founders and the investment fund L-GAM linked to the Princely Family of Liechtenstein, which arrived in 2016, the company had been monitored for several months by the Inter-ministerial Committee for Industrial Restructuring (Ciri). According to Le Figaro, inconsistencies had been found in the cash position. The CEO and founder of the company, Jean-François Torres, has resigned from his position, replaced by a transition manager. While the takeover files had to be submitted before 21 June, the name of a takeover bidder should be announced by the end of July.

The largest pleasure craft carrier

Altead has 25 subsidiaries, acquired gradually and generally at the helm of the court. Its total workforce is 2031 employees with a turnover of 236 M in 2018. A specialist in exceptional transport, the group is the largest carrier of wind turbine blades in Europe and has customers in the aeronautics and defence sectors, such as Airbus. In the boating sector, its subsidiaries, grouped under Altead Boats such as Altead Augizeau or Le Gai Matelot, have made it the leader in the transport of pleasure boats. The group indicates that it transports 3,000 boats a year, from monohull sailing boats to catamarans and speedboats. It has among its customers all the largest shipyards and its difficulties could be problematic for the nautical sector in the event of a takeover in several lots.

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