HLD-backed Rafaut Group completed the acquisition of Alkan from IDI and Groupe Chevrillon.

HLD-backed Rafaut Group, an equipment supplier to French Ministry of Defense, completed the acquisition of Alkan, a manufacturer of aircraft parts, from private equity firms IDI and Groupe Chevrillon. Financial terms were not disclosed. "We are delighted with this transaction and the arrival of HLD Europe. The Alkan Group fully supports this merger, an ambitious development project that will enable us to capitalise on both companies’ industrial and innovation know-how. The Rafaut group has made an exceptional performance over the last three years and the arrival of HLD: we are ready to take the next steps in our growth together," Cyril Abegg, Alkan Chairman and CEO.