EQT to sell E.I.S. Aircraft Group’s aviation operations business to QinetiQ

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  • EQT Mid Market sells airborne training services business E.I.S. Aircraft Operations, part of E.I.S. Aircraft Group, to QinetiQ
  • EQT Mid Market remains invested in E.I.S. Aircraft Group’s light-weight aviation cabin interior products and maintenance services business E.I.S. Aircraft Products & Services
  • The transaction has a strong industrial fit and will benefit both parties’ international growth strategies, both in terms of regional and global reach and the ability to deliver additional customer services

Supported by EQT Mid Market since 2015, E.I.S. Aircraft Operations, part of portfolio company E.I.S. Aircraft Group, has strengthened its position as a leading provider of airborne training services for threat representation and operational readiness. The positive development is the result of a continuous broadening of the airborne training service offering, and the provision of aircraft modification for special missions through the integration of sensors and digital systems for Intelligence, Surveillance and Reconnaissance (“ISR”).

By increasing the number of airplanes operated by E.I.S. Aircraft Operations from 9 to 14, the company achieved a compound annual revenue growth rate of 17% over the past three years.

The combination of E.I.S. Aircraft Operations, as a leading provider in Germany, and QinetiQ, a world leader in training, test and evaluation, makes a strong industrial fit and both parties look forward to a successful development of their partnership.

“We look forward to welcoming the E.I.S. Aircraft Operations’ team in Germany to QinetiQ and working with them to continue to grow the business both within their existing markets and beyond”, comments Steve Wadey, CEO at QinetiQ.

Christoph Otten, Head of E.I.S. Aircraft Operations, adds: “This is an important and logical next step for E.I.S. Aircraft Operations. With EQT’s support and as part of E.I.S. Aircraft Group, we have become a leading player in Germany. We now look forward to entering the partnership with QinetiQ and joining forces with a world leader in training, test and evaluation”.

Andreas Fischer, Partner at EQT Partners and Investment Advisor to EQT Mid Market, comments: ”We are proud of the high growth development of E.I.S. Aircraft Operations over the last three years and are convinced that QinetiQ is the right strategic partner for the company’s next growth phase”.

Christoph Otten, Head of E.I.S. Aircraft Operations, as well as his team will stay with the company and continue to be responsible for the business.

The transaction is subject to approval from the relevant authorities.

Contacts
Andreas Fischer, Partner at EQT Partners, Investment Advisor to EQT Mid Market, +49 892 55 49 906
EQT Press Contact, +46 8 506 55 334

About EQT
EQT is a leading investment firm with approximately EUR 49 billion in raised capital across 26 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About E.I.S. Aircraft Group
With 60+ years in the aviation industry, E.I.S. Aircraft Group is a well-established product & service provider for high-growth segments of the aerospace market, consisting of two business units: E.I.S. Aircraft Products & Services is a key supplier of light-weight cabin interior products, offering an array of composites & specialized thermoplastics solutions, as well as maintenance service provider. E.I.S. Aircraft Operations is a provider of mission-critical airborne services and technical solutions to the global defense community.

More info: www.eis-group.de/

About QinetiQ
Listed on the London Stock Exchange (LSE: QQ.L), QinetiQ is a leading science and engineering company operating primarily in the defence, security and aerospace markets. Our customers are predominantly government organisations including defence departments, as well as international customers in other targeted sectors.

More info: www.QinetiQ.com

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Funds Managed by Affiliates of Apollo Global Management to Acquire Sun Country Airlines

Apollo

NEW YORK–(BUSINESS WIRE)–Dec. 14, 2017– Funds affiliated with Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO) today announced that they have signed a definitive agreement to acquire Sun Country Airlines (“Sun Country” or the “Company”), the largest privately-held fully independent airline in the United States, from brothers Marty and Mitch Davis. The transaction, which is subject to regulatory approvals and other customary conditions, is targeted to close during the first quarter of 2018. Terms of the deal were not disclosed.

Sun Country, based in Minnesota, flies passengers to leisure destinations across the U.S. and internationally and specializes in flying from cold weather locales to warm weather destinations. The Company, which currently flies approximately 2.5 million passengers per year, enjoys significant brand presence in the Minnesota region and greatly values its connection to the local community.

“We are tremendously excited about the acquisition of Sun Country,” said Antoine Munfakh, Partner at Apollo. “Sun Country presents compelling opportunities for innovation, efficiency and growth. Underpinned by a solid foundation of assets and people, including an outstanding team of executives and talented flight crews, we believe Sun Country has a very bright future. We look forward to supporting CEO Jude Bricker in delivering the next chapter of Sun Country’s growth through the combination of operational excellence and the relentless pursuit of delivering customer service and value.”

Jude Bricker, who will remain as CEO of Sun Country, said: “I’d like to thank Marty and Mitch for their strong support and stewardship of this very special airline. I look forward to working with Apollo to further enhance and grow Sun Country’s business.”

Sun Country Chairman Marty Davis said: “We are particularly pleased to sell Sun Country to Apollo because it has a proven track record for successfully helping companies grow and generate long-term value. With Jude at the helm, along with the dedicated employees who make Sun Country what it is today, we are confident the company is well-positioned for continued expansion and its evolution beyond its Minnesota base.”

Barclays served as financial adviser to Sun Country Airlines on this transaction.

About Apollo Global Management

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management (AUM) of approximately $242 billion as of September 30, 2017 in Private Equity, Credit and Real Assets invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.

Forward Looking Statements

This press release may contain forward looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to our dependence on certain key personnel, our ability to raise new private equity, credit or real estate funds, market conditions, generally, our ability to manage our growth, fund performance, changes in our regulatory environment and tax status, the variability of our revenues, net income and cash flow, our use of leverage to finance our businesses and investments by our funds and litigation risks, among others. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in Apollo’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 29, 2016, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

Source: Apollo Global Management, LLC

For investor inquiries regarding Apollo:
Apollo Global Management, LLC
Gary M. Stein, 212-822-0467
Head of Corporate Communications
gstein@apollolp.com
or
Apollo Global Management, LLC
Noah Gunn, 212-822-0540
Investor Relations Manager
ngunn@apollolp.com
or
For media inquiries regarding Apollo:
Rubenstein Associates, Inc. for Apollo Global Management, LLC
Charles Zehren, 212-843-8590
czehren@rubenstein.com

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