France’s Airbus Group on Thursday said it has sold a nearly 67 percent stake in its Test & Services business to a group of private equity investors in Europe, part of the aerospace and defense giant’s  portfolio reshaping to focus on its core aeronautics business.

Spherea supplies test equipment for France's Rafale fighter. Photo: Dassault Aviation
Spherea supplies test equipment for France’s Rafale fighter. Photo: Dassault Aviation

Terms of the sale were not disclosed. The France-based business had about $140.1 million in sales last year with customers in France accounting for the largest share of the revenue, although Airbus said it also does a significant amount of international business. It also earned a 5 percent return on the sales, Airbus Group said.

The France-based business was acquired by ACE Management and IRDI and will be renamed Spherea Test & Services. Spherea has about 500 employees at locations in France, Germany and the United Kingdom.

Spherea’s customers include the French armed forces, Dassault Aviation, and other equipment manufacturers for the Rafale fighter. Other customers include Airbus, Thales, Honeywell [HON] and the French, German and British Ministries of Defense. Spherea also sells into the nuclear power sector.

The business unit’s main products are universal automated test equipment for production and maintenance equipment.