Belgian John Cockerill Defense Acquires ARQUUS Becoming a Leader in Combat Vehicle Solutions.

On July 2, 2024, John Cockerill announced the successful conclusion of its acquisition of ARQUUS, the leading French supplier of wheeled military vehicles. The acquisition process, which began in January 2024 with the Volvo Group, has now officially closed, marking a significant milestone in the defense sector. With this acquisition, Belgian company John Cockerill Defense becomes a key leader in manufacturing combat vehicle solutions, including chassis and weapon stations
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ARQUUS VAB 6x6 armored vehicle fitted with a CPWS turret from John Cockerill Defense. (Picture source: Army Recognition Group)

The completion of this transaction coincides with a recently signed Memorandum of Understanding between France and Belgium. This agreement is designed to support and oversee the alliance, with both countries taking a 10% stake in the capital of John Cockerill Defense. This partnership is expected to enhance bilateral defense cooperation and strategic alignment.

John Cockerill Defense plans to leverage the strengths of both companies, combining Arquus' vehicles with Cockerill's weapon systems. This integration will enable the company to offer innovative solutions, including vehicles equipped with light tank turrets, to better serve ground forces worldwide.

The acquisition sets an ambitious target for John Cockerill Defense, aiming for an annual turnover of €1 billion and a workforce of 2,000 professionals by 2026. The company plans to establish a global presence with major operational bases in Belgium, France, Italy, India, and Saudi Arabia.

Financially, the transaction was orchestrated with the expertise of Crédit Agricole CIB, acting as the sole financial advisor. The acquisition was financed through a consortium comprising Crédit Agricole CIB (Coordinator and Agent), BNP Paribas Fortis, and Société Générale Corporate and Investment Banking.

John Cockerill Defense's acquisition of French Company ARQUUS, a renowned manufacturer of wheeled armored vehicles, marks a significant expansion in the company's capabilities. ARQUUS is well-known for producing versatile and robust platforms such as the VAB (Véhicule de l'Avant Blindé) and other combat vehicle chassis, which have been widely adopted in various military operations worldwide.

With John Cockerill Defense's expertise in designing and manufacturing advanced weapon stations and turrets, the acquisition enables the company to offer comprehensive combat vehicle solutions. This integration will combine the robust chassis of Arquus vehicles with state-of-the-art weapon systems from John Cockerill Defense, creating highly adaptable and powerful combat vehicles.

This strategic synergy allows John Cockerill Defense to provide a complete package to the current military market, addressing the growing demand for integrated and versatile combat solutions. The enhanced offerings will not only include traditional wheeled armored vehicles but also new configurations equipped with advanced weapon stations, ensuring superior performance and operational effectiveness in various combat scenarios.

The combined capabilities will position John Cockerill Defense as a leading supplier in the defense industry, capable of meeting the diverse needs of modern ground forces. This move is expected to strengthen the company's market presence and competitiveness, offering military clients around the world a one-stop solution for advanced combat vehicles.

Furthermore, the collaboration is set to foster innovation and development within the industry, promoting the creation of next-generation combat vehicles that can adapt to evolving military requirements. John Cockerill Defense's expanded product line will enhance its ability to support defense operations globally, ensuring that armed forces are equipped with the best possible tools to achieve their missions.