Investindustrial Group and KKR have reached an agreement for the sale of Avincis to Babcock International Group PLC. The announcement was made by the companies themselves, announcing that the acquisition of the main English company in the supply of engineering assistance services was completed for approximately 2 billion euro.
At the end of the transaction, which will have to be approved by the next Babcock shareholders' meeting, the two main international operators will join together in the provision of ambulance and air transport services for public institutions, multinationals and private individuals, through mainly long-term contracts.
Avincis is a leading operator in the supply of helicopters and airplanes for emergency services (medical rescue and research, firefighting, surveillance and civil protection). From 2005 to today, i.e. since the entry of Investindustrial into the share capital of Avincis, the company has achieved double-digit organic growth, further consolidating its position and further expanding its market share following the entry of KKR in 2010 At the end of December 2013, Avincis had orders worth 2,3 billion euros, an increase of 30% compared to 2012.
“Since the acquisition of Avincis in 2005 – commented Andrea C. Bonomi, Senior Partner of Investindustrial – and in partnership with KKR since 2010, we have built a Group that has become one of the most important suppliers of helicopter services for special missions and fixed-wing and rotary-wing aircraft for emergency services. Babcock, thanks to its strong culture of excellence in engineering services, is the ideal industrial partner to accompany Avincis towards a further stage of development.”
