Private equity firm CataCap has agreed to acquire UK-based AerFin Holdings from CarVal Investors.
AerFin provides cost-saving aftermarket support solutions to the aviation industry. Led by an experienced team of aviation experts, the company offers completely bespoke services ranging from whole aircraft and engine sale or lease, through to tailored flight-hour component support solutions based upon used serviceable material.
CataCap will become the majority shareholder in the group, which is expected to generate revenues of approximately DKK 780 million and an operating profit of approximately DKK 115 million in the current financial year.
Together with Founder & CEO Bob James and the management team, CataCap will strengthen the business and make it ready for further international expansion.
AerFin founder and CEO Bob James, who will retain a significant equity interest in the business on completion supported by the existing leadership team, said: :I am delighted to announce the partnership and investment from CataCap who I firmly believe will be the catalyst for continued sustainable growth and business development through their strategic alignment of interests bringing a true collaborative approach to our employees and our strategic partners."
The closing of the transaction is subject to customary closing conditions and is expected to occur in October.
CataCap has been assisted by Baker & Mckenzie, Deloitte and Oliver Wyman, as its legal, financial and commercial advisor, respectively.
The shareholders of Aerfin were advised on the sale of the business by EY Corporate Finance and A&L Goodbody.