Avia Solutions Group has entered a strategic partnership with Certares Management (Certares), a US-based investment specialist dedicated to the travel, tourism and hospitality sectors, in which Certares will provide a €300 million (US$351 million) structured equity investment.
The investment will help enable the next phase of Avia Solutions Group’s growth plan for services in passenger and cargo aviation, maintenance and engineering, crew training, ground handling and logistics. Avia Solutions Group intends to use the net proceeds from this offering for strategic acquisitions, capital expenditures and general corporate purpose. The partnership with Certares will provide access to Certares’s complementary expertise and industry network as well as add new members to ASG Board that will further strengthen the governance of the organization
Tom Klein, Senior Managing Director Certares said: “Avia Solutions Group has built itself into a premier provider of aerospace services. Certare’s investment will support ASG’s growth and consolidation strategy in the aerospace services sector where they have developed both quality and scale advantages. The management team’s track record of building leading market positions in the aerospace services sector as well as ASG’s broad geographic footprint, synergistic service offering and proven ability to source and integrate accretive acquisitions make them a perfect partner for Certares. We look forward to partnering with Avia Solutions Group to grow and geographically expand their leadership positions.”
