STOCKHOLM, April 24, 2018 /PRNewswire/ --
- EQT Mid Market sells airborne training services business E.I.S. Aircraft Operations, part of E.I.S. Aircraft Group, to QinetiQ
- EQT Mid Market remains invested in E.I.S. Aircraft Group's light-weight aviation cabin interior products and maintenance services business E.I.S. Aircraft Products & Services
- The transaction has a strong industrial fit and will benefit both parties' international growth strategies, both in terms of regional and global reach and the ability to deliver additional customer services
Supported by EQT Mid Market since 2015, E.I.S. Aircraft Operations, part of portfolio company E.I.S. Aircraft Group, has strengthened its position as a leading provider of airborne training services for threat representation and operational readiness. The positive development is the result of a continuous broadening of the airborne training service offering, and the provision of aircraft modification for special missions through the integration of sensors and digital systems for Intelligence, Surveillance and Reconnaissance ("ISR").
By increasing the number of airplanes operated by E.I.S. Aircraft Operations from 9 to 14, the company achieved a compound annual revenue growth rate of 17% over the past three years.
The combination of E.I.S. Aircraft Operations, as a leading provider in Germany, and QinetiQ, a world leader in training, test and evaluation, makes a strong industrial fit and both parties look forward to a successful development of their partnership.
"We look forward to welcoming the E.I.S. Aircraft Operations' team in Germany to QinetiQ and working with them to continue to grow the business both within their existing markets and beyond", comments Steve Wadey, CEO at QinetiQ.
Christoph Otten, Head of E.I.S. Aircraft Operations, adds: "This is an important and logical next step for E.I.S. Aircraft Operations. With EQT's support and as part of E.I.S. Aircraft Group, we have become a leading player in Germany. We now look forward to entering the partnership with QinetiQ and joining forces with a world leader in training, test and evaluation".
Andreas Fischer, Partner at EQT Partners and Investment Advisor to EQT Mid Market, comments: "We are proud of the high growth development of E.I.S. Aircraft Operations over the last three years and are convinced that QinetiQ is the right strategic partner for the company's next growth phase".
Christoph Otten, Head of E.I.S. Aircraft Operations, as well as his team will stay with the company and continue to be responsible for the business.
The transaction is subject to approval from the relevant authorities.
Partner at EQT Partners
Investment Advisor to EQT Mid Market
EQT Press Contact
EQT is a leading investment firm with approximately EUR 49 billion in raised capital across 26 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com
About E.I.S. Aircraft Group
With 60+ years in the aviation industry, E.I.S. Aircraft Group is a well-established product & service provider for high-growth segments of the aerospace market, consisting of two business units: E.I.S. Aircraft Products & Services is a key supplier of light-weight cabin interior products, offering an array of composites & specialized thermoplastics solutions, as well as maintenance service provider. E.I.S. Aircraft Operations is a provider of mission-critical airborne services and technical solutions to the global defense community.
More info: www.eis-group.de/
Listed on the London Stock Exchange (LSE: QQ.L), QinetiQ is a leading science and engineering company operating primarily in the defence, security and aerospace markets. Our customers are predominantly government organisations including defence departments, as well as international customers in other targeted sectors.
More info: www.QinetiQ.com
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The following files are available for download:
Press release EQT Mid Market E.I.S. Aircraft Group_180424
SOURCE EQT AB