AIM Aviation Group, which specialises in the design and construction of aircraft cabins, has undergone a management buy-out backed by LDC.
AIM Aviation Group, which specialises in the design and construction of aircraft cabins, has undergone a management buy-out (MBO) backed by mid-market investor LDC.
The MBO, financial details of which are undisclosed, is led by group chief executive Mark Edwards and group commercial director Peter Forbes, who is also managing director of AIM Aviation subsidiary Jecco.
The managing directors of AIM Aviation’s other two subsidiaries, Keith Robinson of Henshalls and Paul Seaford of Composites, are also part of the MBO team.
LDC has introduced Chris Thomas as chairman, who has worked with the firm on a number of other deals.
Steve Aston, an investment director at LDC, says that AIM Aviation has benefitted from its relationship with growing airlines such as Emirates and Virgin Atlantic, and from working on ‘wide-body platforms such as the A380, B787 and A350’.
Bank finance for the deal was provided by Lloyds and RBS, while advisers who worked on the transaction include Catalyst Corporate Finance, Deloitte and Eversheds.