Asia Digital Engineering (ADE), the engineering and maintenance subsidiary of Capital A, secured a $100 million investment from OCP Asia Ltd. The funds will be used for the construction and operationalisation of a new 14-line aircraft maintenance hangar facility in Sepang.
Tony Fernandes, CEO, Capital A said: “On behalf of Capital A, I sincerely congratulate the team at ADE. During its capital raising exercise, ADE has received strong interest from numerous global investment funds, who have seen the recovery potential of the regional and global airline industry. This investment vindicates Capital A’s strategy of diversifying into more than just an airline. We have now set up a fantastic group of airlines, airline services, digital and logistics companies with a tremendous upside and now that Covid has ended, investors and the public markets are realising the enormous potential of Capital A.”
Mahesh Kumar, CEO, ADE said: “We are incredibly excited to have secured this significant backing from OCP Asia, which has an extensive investment experience across multiple industries throughout Asia Pacific. We are grateful for the support shown by OCP Asia and look forward to a successful partnership. We would also like to thank Broadgate Advisers who acted as our financial adviser throughout this fundraising exercise.”
Pleased to have the opportunity to invest in and partner with ADE as it executes the next phase of its growth strategy, Teall Edds, Founding Partner, OCP Asia said: “We believe ADE, with its best-in-class engineering capabilities, technology-driven value proposition and experienced management team is well positioned to be a leading aviation MRO player in the region. We appreciate the efforts undertaken by the Ministry of Transport, Ministry of Investment, Trade and Industry, and Malaysia Airports Holdings Berhad to develop Malaysia into a regional aviation hub. We are very positive on the recovery of the aviation industry following the challenges of the past three years, and we see the MRO sector as a critical element within the aviation value chain and a key beneficiary of the post-pandemic recovery of global air travel.”
The investment will also be allocated for ADE's further business expansion in other verticals and geographical markets, demonstrating the company's commitment to achieving long-term growth and success.