Avia Solutions buys project cargo air specialist Chapman Freeborn
Avia Solutions Group has acquired the Chapman Freeborn Group, which specialises in the charter and lease of aircraft and handles a lot of large and heavy cargoes.
Under the terms of the agreement, Avia Solutions Group will acquire 100 per cent of the shareholding in the UK-headquartered Chapman Freeborn Group. The parties signed the contract on the 14th of June in London.
Avia Solutions Group says the transaction will bolster its current business lines portfolio, which consists of a global holding company with 42 subsidiaries engaged in aircraft maintenance, pilot training, ground handling and fuelling, aviation IT solutions and business aviation.
London-based Chapman Freeborn, among other things, specialises in air transport of heavy and outsize cargoes. The company frequently transports loads ranging from power generators and offshore equipment to all-terrain vehicles and aerospace parts, either by chartering giant Antonov aircraft or nose-loading freighters from Boeing.
As part of the Avia Solutions Group, Chapman Freeborn will maintain its existing product portfolio and continue to operate under the group’s existing brands, including subsidiaries Chapman Freeborn Airchartering, Chapman Freeborn OBC, Intradco Cargo Services, Logik Logistics, Magma Aviation, and Wings 24.
One billion euros
The consolidated revenues of the two entities were €800 million for 2018 and are forecasted to reach €1 billion in 2019. After the acquisition is completed, Avia Solutions Group will own 66 companies in 26 countries worldwide, with approximately 3300 professionals in total.
“This acquisition is part of our strategic plan to expand our presence in key sectors, and significantly strengthens the capabilities of our group. Chapman Freeborn’s client portfolio and its outstanding level of expertise will greatly support our ambition to be the world’s leading aviation services provider,” said Gediminas Ziemelis, Chairman of the Board at Avia Solutions Group.
“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”, added CEO Russi Batliwala of Chapman Freeborn.
The transaction is expected to be closed in Q3 2019. The companies did not disclose the financial terms of the agreement.