Baker & McKenzie has advised Vallourec in the disposal of its subsidiary, Vallourec Heat Exchanger Tubes (VHET), to the industrial holding company, American Industrial Acquisition Corporation (AIAC). This operation is in line with Vallourec’s transformation plan and also reflects VHET’s ambition to become the market leader for thin welded tubes and the leader in titanium and finned tubes.

Vallourec Heat Exchanger Tubes specialises in the production of titanium and stainless steel welded tubes for secondary systems in conventional and nuclear power plants, as well as for the desalination, chemical, industrial and automotive markets. It currently has 600 employees and a turnover of EUR10 million.

Vallourec is the world leader in tubular solutions for the energy sectors and for other applications, from Oil & Gas wells in harsh environments to new generation power plants, via ambitious architectural projects and high-performance mechanical equipment. With its establishments in around 20 countries, Vallourec has 20,000 employees.

American Industrial Acquisition Corporation (AIAC) is an industrial holding company that owns 20 companies in 13 countries, with a strong presence in France.

Baker & McKenzie’s M&A team was made up of Alain Sauty de Chalon, partner, Antoine Caillard, counsel, and Paul Nury, associate. For its part, AIAC was assisted by Lamy Lexel (Jérôme Saleur, partner and Maïté Massoma, associate).

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