Avia Solutions Group acquires Chapman Freeborn
GLOBAL multipurpose aviation company Avia Solutions Group has acquired 100 per cent of the shareholding in UK-headquartered Chapman Freeborn Group - a worldwide market leader for aircraft charter solutions for an undisclosed sum
GLOBAL multipurpose aviation company Avia Solutions Group has acquired 100 per cent of the shareholding in UK-headquartered Chapman Freeborn Group - a worldwide market leader for aircraft charter solutions 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 EUR800 million (US$896 million) for 2018 and are forecasted to exceed EUR1 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 3,300 professionals in total.
Chairman of the board at Avia Solutions Group, Gediminas Ziemelis, 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.'
Russi Batliwala, CEO of Chapman Freeborn, said: 'This is an important moment for Chapman Freeborn as we continue to expand the strength of our group around the world. Joining forces with Avia Solutions Group will provide us with a greater level of business scale, resources and expertise to accelerate growth and deliver our services to an even wider client base - all while preserving our unique company culture and ongoing commitment to charter market innovation.'
The transaction is expected to be closed in Q3 2019, according to AJOT.