ESG sells AC&S Spain and the ILS business of AC&S Germany to Alterup – Studec Group


ESG is a provider of engineering services, mainly in electronics for the aerospace, automotive and defence industries, with a turnover of more than €250 million. Its shareholders include Airbus Defence and Space, Rohde-Schwarz, Thales and Northrop Grumman Litef. ESG owned AC&S, a training solutions and technical documentation services division focused on the aerospace sector with presence in Spain and Germany.

ALTERUP – STUDEC Group is a French group dedicated to offering engineering services, training solutions and technical documentation services for the aerospace and defence sector.

Clearwater International advised ESG on every phase of the sales process.

“The Clearwater International team around Josemari Alberú, with its international experience, was a decisive success factor of the transaction during the whole process. They not only found the perfect partner based on a professional market analysis but also led both partners to a beneficial and well-balanced contract in a very short term and efficient schedule.”

Dr. Bernhard Kopp, Finance Director and Member of Executive Board at ESG