Belgian Company John Cockerill Finalizes Acquisition of French Company Arquus.

John Cockerill has successfully finalized the acquisition of Arquus, the leading French supplier of military vehicles, a process that began in January with the Volvo Group. This announcement was made on July 2, 2024, by the Belgian company.
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Emmanuel Levacher (Arquus) and Thierry Renaudin (John Cockerill Defense) in front of Arquus' new vehicle MAV'RX equipped with a Cockerill CPWS turret. (Picture source: John Cockerill)

This acquisition follows the recent Memorandum of Understanding signed by France and Belgium to support and oversee this strategic alliance. As part of this agreement, both countries have each acquired a 10% stake in John Cockerill Defense.

Arquus, a subsidiary of the Volvo Group, is a major player in land defense in France. Founded in 1898, the company specializes in manufacturing military vehicles, including logistics and tactical trucks, as well as armored vehicles. With more than 25,000 vehicles in service in the French Army, Arquus has built a solid reputation with iconic models such as the VAB, Sherpa, and the ARMIS range. These vehicles, designed to meet the most rigorous operational requirements, are deployed in more than 60 countries worldwide, ensuring the mobility and protection of armed forces in various conditions.

John Cockerill, based in Belgium, is a historic engineering company founded in 1817. The company's defense division, John Cockerill Defense, is renowned for its weapon systems, including light tank turrets and shooting simulation systems. John Cockerill has established itself as a key supplier of advanced military technologies, with a global presence and strategic operational bases in Belgium, France, Italy, India, and Saudi Arabia. The company is committed to continuous innovation to meet the needs of modern armed forces and aims to achieve an annual turnover of one billion euros by 2026.

This acquisition will enable John Cockerill Defense to offer integrated solutions, combining Arquus vehicles with Cockerill's weapon systems, including light tank turrets. This will enhance their capability to serve ground forces worldwide. The company aims for an annual turnover of one billion euros and plans to employ 2,000 professionals by 2026, with key operational bases in Belgium, France, Italy, India, and Saudi Arabia.

The acquisition of Arquus by John Cockerill presents several other strategic advantages. Firstly, it allows John Cockerill to expand its product portfolio by integrating Arquus' armored vehicles and military trucks with its own weapon systems. This synergy offers comprehensive and integrated solutions to armed forces, combining mobility and firepower. Additionally, the acquisition strengthens John Cockerill's presence in the European defense market, benefiting from Arquus' established expertise and network. Finally, by integrating Arquus' production capabilities and technological innovations, John Cockerill can enhance its offerings and increase its competitiveness internationally, thus meeting the growing needs of armed forces for mobility and protection.

The transaction was advised and financed by Crédit Agricole CIB, with financial support from BNP Paribas Fortis and Société Générale Corporate and Investment Banking. At Army Recognition, we are very curious to see what this acquisition will bring in the future, so stay tuned for updates!