Acquiring Metalliance by Corail-Tunnelier

As a global supplier of MSVs and related equipment for the tunneling and mining industries, Metalliance SA has been acquired by Corail-Tunnelier SAS and it will retain the Metalliance brand name.

Corail-Tunnelier is a consortium comprising:

• Corail-SM, by private investment firms Coral Reef Capital, which focuses on the energy, materials and industrial services sectors, and Sandton Capital Partners, which supports complex business transitions;
• Marceau Schlumberger, founder of Coral Reef Capital, capital investment specialist, currently serves on the board of directors of Shawnee Oil Company, Krewe Energy, Rawhide Mining, Gulfstar Resources, Western Exploration, and ROC Service Company.
• Steve Filipov, who has 30 years’ global industrial expertise and leadership at the head of international groups Terex Corporation and recently CEO of Manitex International.
• Mining Equipment Ltd, which has 40 years’ experience worldwide in underground equipment (locomotives, rolling stock, mine hoists, mine winches, and ventilation equipment).
• Novium, a French manufacturer of special-purpose machinery for rail works, public works and land and sea-based defence equipment.

Considering that Corail-Tunnlier SAS is a new organisational structure, it has introduced Steve Filipov as CEO, Marceau Schlumberger as chief financial officer and Patrick Dubreuille as deputy managing director.

According to Filipov, Schlumberger and Dubreuille: “Our 100-day Plan is being implemented with our initial investments being made to stabilise our production and start implementing improvement processes in our manufacturing footprint. Our primary priority is to put Metalliance on a firm financial footing and to deliver all current orders as quickly as possible, with ongoing jobsite services support and spares parts management. Our long-term strategy is to continue to invest and grow Metalliance products globally with developments in innovation, especially within the electrical vehicle technology. We look forward to a productive and prosperous future together with all our clients and suppliers and we would like to thank you for your patience during this complex process.”