Leading private equity provider LDC has completed an undisclosed investment to support the management buyout of Airline Services.
The Manchester-based business is a leading provider of aircraft de-icing, ramp turnaround and cabin maintenance and retrofit services in the UK and overseas.
The deal is the third transaction completed by LDC’s Midlands’ team using capital from LDC’s £200 million manufacturing and specialist engineering commitment.
Airline Services provides essential maintenance, repair and overhaul services to more than 100 airlines and aviation businesses in the UK and internationally, including many of the industry’s leading airlines and aircraft lessors.
The group’s workshop division incorporates the repair and overhaul of cabin interiors, aircraft seats, galley equipment, lighting, in-flight entertainment and other avionic systems from its facilities at Manchester and Stansted airports. Its ramp operations division operates from 12 UK airports, including Birmingham.
Bryan Bodek, chief executive of Airline Services, said: “LDC’s investment and support brings additional strategic input and financial backing to our business and will help us to deliver our ambitious growth plans. As well as increasing the pace of organic growth, we are keen to pursue a number of bolt-on acquisitions to broaden our service offering and position the business with new customers in the UK and overseas.”
Steve Aston, investment director at LDC, said: “Airline Services is a market leading business with an impressive and unique service proposition. Its integrated ‘turnaround’ services model is increasingly being adopted by scheduled airlines as well as those operating a low-cost model. The market dynamics around cabin maintenance and retrofit have been very strong for some time and are expected to improve as the number of aircraft in service increases. We are backing an excellent management team and are looking forward to working closely with them to support their organic and acquisitive growth strategy.”