Aramine

A specialist in underground mining equipment, the Aix-based Aramine group is carrying out its third round of financing, aiming to reorganise the capital of the holding company and strengthen the position of the Melkonian family, together with Sofipaca who is investing for the third time and Credit Mutuel Equity who is a new shareholder. This operation foresees the reclassification of the longstanding investors Bpifrance and Amundi.

Credit Mutuel Equity wants to accompany Aramine at a key moment of its development in a mining sector which is undergoing worldwide expansion.

The Aramine group was founded in 1975 by the parents of the current managing directors, Geneviève, Marc and Christophe Melkonian. Aramine is positioned in a niche market of mining equipment for narrow, hard rock underground mines. It designs and exports specific machines manufactured in France and distributes original spare parts and components for all types of mining machines. The group foresees a turnover of 35 million Euros in 2021.

The co-existence of two activities has allowed the group to become a key player in a market dominated by large international groups. Since the closure of mines in France the group has developed internationally and this is where 98% of its turnover now takes place with 200 business clients in over 80 countries. The growth of the activity is propelled by:

• The distribution of spare parts and components for underground hard rock mining machines,
• The design, assembly and sale of machinery for narrow vein mining under its own brand Aramine, and the reconditioning of machines from leading brands.
• The distribution of machinery and accessories for large mining equipment companies.
• The Aramine group is a precursor in the field of CSR with the recycling of used machines, and has been doing this for the past twenty years, with, most notably, the launch of its first range of autonomous battery-operated machines to replace the motorisation of diesel.

“ Aramine is a well structured and resilient family group, which has succeeded in transforming itself according to market changes and imposing itself on the world stage thanks to a flexible business model. Operated by three closely-knit and experienced siblings, who practice balanced management, the group is pursuing its evolution on a commercial level as well as in the organisation of its capital. The launch of new machines also gives it good prospects for development in an expanding market with strong barriers to entry ” explains Denis Dalmais, Senior Principal at Credit Mutuel Equity.

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