Avia Solutions Group has entered into an agreement to acquire 100% of the shareholding in UK-headquartered Chapman Freeborn Group - for an undisclosed sum.
The addition of Chapman Freeborn’s worldwide businesses will bolster current business lines portfolio of Avia Solutions Group - a global holding company with 42 subsidiaries engaged in aircraft maintenance, pilot training, ground handling and fuelling, aviation IT solutions and business aviation.
As part of the Avia Solutions Group, Chapman Freeborn will maintain its existing product portfolio and continue to operate under the group’s existing brands - including subsidiaries Chapman Freeborn Airchartering, Chapman Freeborn OBC, Intradco Cargo Services, Logik Logistics, Magma Aviation, and Wings 24.
The consolidated revenues of the two entities were €800 million for 2018 and are forecasted to exceed €1 billion in 2019. After the acquisition is completed, subject to customary approvals, Avia Solutions Group will own 66 companies in 26 countries worldwide, with approximately 3300 professionals in total.
Gediminas Ziemelis, Chairman of the Board at Avia Solutions Group, said: “This acquisition is part of our strategic plan to expand our presence in key sectors, and significantly strengthens the capabilities of our group. Chapman Freeborn’s client portfolio and its outstanding level of expertise will greatly support our ambition to be the world’s leading aviation services provider.
“Avia Solutions Group and Chapman Freeborn both enjoy excellent reputations in the market, and together we share a common passion for delivering innovative client-focused services. With an even greater global footprint, we can harness the synergies of our two like-minded companies to achieve even more ambitious results.”
The transaction is expected to be closed in Q3 2019.