Avia Solutions Group has agreed to acquire 100 percent of the shareholding in UK-headquartered Chapman Freeborn Group.
The agreement was signed in London on June 14 2019. The financial terms of the deal were not disclosed.
Chapman Freeborn Group said that it will maintain its existing product portfolio and continue to operate under the group’s existing brands including: Chapman Freeborn Airchartering, Chapman Freeborn OBC, Intradco Cargo Services, Logik Logistics, Magma Aviation, and Wings 24.
The consolidated revenue of the two entities was EUR800 million (USD894.8 million) for 2018 and are forecasted to exceed EUR1 billion (USD1.12 billion)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.”
Russi Batliwala, ceo of Chapman Freeborn, added: “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.”
Avia Solutions Group is a global holding company with 42 subsidiaries engaged in aircraft maintenance, pilot training, ground handling and fuelling, aviation IT solutions and business aviation.
More to follow.