CAE acquires Oxford Aviation Academy for C$314m

CAE has acquired Oxford Aviation Academy (OAA), an industry-leading provider of aviation training and crew sourcing services for C$314m. This acquisition strengthens CAE’s leadership and global reach in civil aviation training by increasing its training centre footprint, growing its Ab-Initio flight training network and extending its portfolio by adding OAA’s Parc Aviation, a global leader in pilot and maintenance crew sourcing for airlines and leasing companies. The acquisition strengthens CAE’s position in capturing the long-term and growing market demand for aviation professionals. Oxford Aviation Academy (OAA) had revenues of approximately C$280m during CAE’s fiscal year 2012 and the purchase price represents approximately 9 times OAA’s EBITDA during the same period. The acquisition will be accretive to CAE’s earnings in fiscal year 2014.