Odyssey Technologies Signs Agreement to Acquire 100% of Smes (€5.4M Revenue)
Odyssey Technologies has signed an agreement to acquire 100% of Smes, a precision parts manufacturer for the aerospace industry. This move is part of the French group's mixed growth strategy, combining internal development and acquisitions.
A Strategic Acquisition in the Transformation of High-End Aircraft
Located in Wittelsheim (Haut-Rhin), Smes specializes in precision mechanics primarily for the aerospace industry, with particular expertise in machining complex parts for the transformation of aircraft for an international high-end clientele, while also holding positions in other sectors. The company, certified EN9100, has about forty employees and relies on short production cycles with limited use of subcontracting. For the fiscal year ended June 30, 2025, Smes recorded a revenue of €5.4M and a profit of €0.6M. Its equity amounts to €2.7M with a total balance sheet of €3.5M. The 2026 fiscal year, ending next June 30, is expected to see a strong acceleration in revenue and profit growth.
An Attractive Financial Model for the Group
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Smes stands out with an operational model that generates a low working capital requirement, a stark contrast to other subsidiaries of Odyssey Technologies. This financial profile will help strengthen the consolidated position of the acquiring group. The acquisition will be financed through the cash reserves of Odyssey Technologies and through bank loans. The group will thus be able to integrate Smes into its client portfolio and consolidate its presence in the aerospace sector by accessing new high-value market segments.
Diversification Towards Premium Markets
Odyssey Technologies currently operates with 175 employees spread across three production units in France and achieved a consolidated revenue of €20.8M in 2025. The acquisition of Smes complements this portfolio by diversifying into recognized technical expertise in the markets of aerospace, defense, space, and energy. This external growth operation is a continuation of the diversification strategy presented during the group's initial public offering.
L'année 2026 confirme la bonne orientation de nos marchés attestée par une progression forte de la prise de commandes.
Chiffre d'affaires semestriel stable à 10,5 M€ dans un environnement marqué par de fortes incertitudes géopolitiques. Les marchés de l'aéronautique, de la défense et des machines spéciales pour l'industrie et le spatial restent bien orientés, avec une hausse des prises de commandes. La production a été ralentie par les difficultés de recrutement de techniciens d'usinage qualifiés, compensées par des actions de formation et de polyvalence. L'acquisition de SMES (chiffre d'affaires 2025/2026 de 6,7 M€, en croissance de 20 %, prises de commandes de 4,4 M€ au 1er semestre 2026, en hausse de 1,1 M€) sera consolidée à partir de juillet 2026 et ouvre un nouveau pôle dédié au luxe.
Risks mentioned
Difficultés persistantes à recruter des techniciens d'usinage qualifiés ralentissant la production
Environnement économique marqué par de fortes incertitudes géopolitiques
Chiffre d'affaires semestriel stable, sans croissance organique
Risque d'exécution lié à l'intégration opérationnelle de SMES
Opportunities identified
Consolidation de SMES à partir de juillet 2026 apportant un supplément de croissance
Diversification du portefeuille clients grâce à l'acquisition de SMES
Création d'un nouveau pôle dédié au luxe (usinage de pièces pour jets)
Progression forte des prises de commandes sur des marchés bien orientés
Investissements de capacité et polyvalence du personnel pour soutenir la croissance future
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
