Business aviation services provider Avia Solutions Group is to buy UK-headquartered aircraft charter business Chapman Freeborn.
Chapman Freeborn’s businesses will join the global holding company’s 42 existing subsidiaries, which offer aircraft maintenance, pilot training, ground handling and fuelling services and aviation IT solutions.
Chapman Freeborn’s existing brands and subsidiaries will continue to trade in the current form. These include: Chapman Freeborn Airchartering, Chapman Freeborn OBC, Intradco Cargo Services, Logik Logistics, Magma Aviation, and Wings 24.
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.
The consolidated revenues of the two entities were €800m for 2018 and are forecasted to reach €1bn in 2019. 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.
Russi Batliwala, CEO of Chapman Freeborn, said, “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 by October 2019.
