Private equity firm LDC has completed an investment of undisclosed amount to support the management buyout of Airline Services.
Established more than 25 years ago and led by CEO Bryan Bodek, Airline Services provides maintenance, repair and overhaul services to more than 100 airlines and aviation businesses in the UK and internationally.
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 International, and is a UK provider of essential turnaround services including aircraft de-icing and other ramp services.
Based at Gatwick and East Midlands airports, the group’s Rotable Components business provides a rotables parts and wheel and brake management and repair capability from a substantial stockholding base.
In conjunction with the investment, Steve Aston and Jon Pickering of LDC will join the company’s board.
Airline Services intends to use the proceeds from the investment to grow organically and through acquistions to broaden its service offering for new customers in the UK and overseas.
FinSMEs
29/03/2012