Brum team advises on cross-border aviation deal
A team from EY in Birmingham, Bristol and London has advised on the sale of aviation industry specialist Aerfin to CataCap, a Danish private equity firm.
Aerfin, which is headquartered in Caerphilly, specialises in extending the life of aircraft parts to provide cost effective services to airlines.
As part of the deal CataCap will become the majority shareholder of the group, following the exit of CarVal Investors. Aerfin founder and chief executive Bob James will retain a significant equity interest in the business.
In addition to its main base in South Wales, the business also operates from London Gatwick, and internationally in Singapore, Atlanta and South America. The deal aims to support further international expansion of the business.
Anthony Edwards led the EY Birmingham-based transaction team on the deal. He said: “We were absolutely delightedly to advise on this latest deal for Aerfin, which will help secure its future growth and see new investment in the business.
“What makes the deal so interesting is that it involved several different teams from EY, across several offices. This is the third deal of its type, in the aerospace industry that we have advised on in 2019, which clearly shows there is appetite to among investors to seize opportunities to invest in high quality businesses. We wish Bob and his team all the very best for the future.”
Peter Ryttergaard, partner at CataCap, said: “Aerfin is an outstanding company in a sector that has global reach. Aerfin has received several awards for solid growth and has been in our sight for quite some time. We are truly impressed with the strength of the business model and the leadership team we are backing.
“We have developed a clear ambition of increasing our exposure in the sector. This is an industry we know well, and we are convinced that Aerfin is an excellent platform and that CataCap is the right partner for Aerfin to help drive continued growth.”
