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Management Buyout of Airline Services by LDC

23rd March 2012


MANCHESTER-based corporate finance advisory firm Zeus Capital has advised management and newco on the management buyout of Airline Services backed by Lloyds Development Capital. The deal value has not been disclosed.

Airline Services, which is head quartered in Manchester provides essential maintenance, repair and overhaul services to more than 100 airlines and aviation businesses in the U.K. and internationally, including many of the industry’s leading airlines and aircraft lessors.

The group’s Workshop division incorporates the repair and overhaul of cabin interiors, aircraft seats, galley equipment, lighting, in-flight entertainment and other avionic systems from its facilities at Manchester and Stansted airports.

Its Ramp Operations division operates from 12 U.K. airports, including Manchester Airport, and is a leading U.K. provider of essential turnaround services including aircraft de-icing and other ramp services which are all aimed at minimising aircraft time on ground.

Based at Gatwick and East Midlands airports, the group’s Rotable Components business provides a rotables parts and wheel and brake management and repair capability from a substantial stockholding base.

Established for more than 25 years, the company has been led by Chief Executive Bryan Bodek since 2000 and has achieved significant growth in recent years across all three divisions as airlines increasingly out-source operations and with the increasing demand for cabin MRO services.

The business is now well-positioned for future growth, with record order books and annual turnover approaching £60million.

The Zeus Capital deal team comprised of Tremayne Ducker and Alexei Callender.