Avia Solutions Group will acquire Chapman Freeborn with the predicted revenue of the new group to reach €1 billion in 2019.
Avia Solutions Group, a global multipurpose aviation holding headquartered in Vilnius, Lithuania, has entered into an agreement to acquire 100% of the UK-headquartered Chapman Freeborn Group, an aircraft charter solutions provider. The acquisition agreement was signed in London on June 14.
Avia Solutions Group is a global holding company with 42 subsidiaries engaged in aircraft maintenance, pilot training, ground handling and fuelling, aviation IT solutions and business aviation.
The companies say that, 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.
The consolidated revenues of the two entities were €800 million for 2018 and are predicted to exceed €1 billion in 2019.
Provided that the deal is approved by authorities, Avia Solutions Group will own 66 companies in 26 countries worldwide, with approximately 3,300 employees.
Gediminas Ziemelis, chairman of the board at Avia Solutions Group, said, “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.”
Russi Batliwala, CEO of Chapman Freeborn, said, “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, all while preserving our unique company culture and ongoing commitment to charter market innovation.”
The transaction is expected to be closed in the third quarter of 2019. The specific financial terms of the deal have not been revealed.