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Order HereUK-based aviation services group Air Partner has bought Baines Simmons, an aviation safety consulting business, for £6 million ($9.4 million).
London Gatwick-headquartered Air Partner is primarily a charter broker, active in business and commercial aviation, including freight, while Baines Simmons specializes in aviation regulation, compliance and safety management.
“Baines Simmons will provide Air Partner with the opportunity to extend the group’s service and product capabilities which will complement and enhance its existing broking business,” Air Partner said in a statement.
Founded in 2001, Baines Simmons has worked with around 750 aviation organizations and more than 40 aviation authorities, including Airbus, British Airways, EASA, KLM, Rolls Royce, SAS, The Isle of Man Government, Thomas Cook, Thomson and Virgin Atlantic. It has three business areas: consulting, training and outsourced services.
Following the acquisition, Baines Simmons will maintain its brand, remain headquartered at Fairoaks Airport in Surrey and continue to be managed by its existing team, led by managing director Andrew Parker.
In 2014, Baines Simmons achieved a £700,000 pre-tax profit from £5.4 million turnover. Air Partner has agreed to pay £5.4 million in cash for the business, plus a further £0.6 million due in January 2018 depending on performance. It expects Baines Simmons to be “earnings enhancing” in its first full year of ownership. The group will release its interim results on Sept. 24.
Liberum, which acted as lead advisor to Air Partner, estimates Baines Simmons will boost the group’s revenues by 7% in the first year, without assuming synergies.
The deal, which was announced Aug. 19, builds on Air Partner’s recent acquisition of aircraft remarketing specialist Cabot Aviation.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereUK-based aviation services group Air Partner has bought Baines Simmons, an aviation safety consulting business, for £6 million ($9.4 million).
London Gatwick-headquartered Air Partner is primarily a charter broker, active in business and commercial aviation, including freight, while Baines Simmons specializes in aviation regulation, compliance and safety management.
“Baines Simmons will provide Air Partner with the opportunity to extend the group’s service and product capabilities which will complement and enhance its existing broking business,” Air Partner said in a statement.
Founded in 2001, Baines Simmons has worked with around 750 aviation organizations and more than 40 aviation authorities, including Airbus, British Airways, EASA, KLM, Rolls Royce, SAS, The Isle of Man Government, Thomas Cook, Thomson and Virgin Atlantic. It has three business areas: consulting, training and outsourced services.
Following the acquisition, Baines Simmons will maintain its brand, remain headquartered at Fairoaks Airport in Surrey and continue to be managed by its existing team, led by managing director Andrew Parker.
In 2014, Baines Simmons achieved a £700,000 pre-tax profit from £5.4 million turnover. Air Partner has agreed to pay £5.4 million in cash for the business, plus a further £0.6 million due in January 2018 depending on performance. It expects Baines Simmons to be “earnings enhancing” in its first full year of ownership. The group will release its interim results on Sept. 24.
Liberum, which acted as lead advisor to Air Partner, estimates Baines Simmons will boost the group’s revenues by 7% in the first year, without assuming synergies.
The deal, which was announced Aug. 19, builds on Air Partner’s recent acquisition of aircraft remarketing specialist Cabot Aviation.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereUK-based aviation services group Air Partner has bought Baines Simmons, an aviation safety consulting business, for £6 million ($9.4 million).
London Gatwick-headquartered Air Partner is primarily a charter broker, active in business and commercial aviation, including freight, while Baines Simmons specializes in aviation regulation, compliance and safety management.
“Baines Simmons will provide Air Partner with the opportunity to extend the group’s service and product capabilities which will complement and enhance its existing broking business,” Air Partner said in a statement.
Founded in 2001, Baines Simmons has worked with around 750 aviation organizations and more than 40 aviation authorities, including Airbus, British Airways, EASA, KLM, Rolls Royce, SAS, The Isle of Man Government, Thomas Cook, Thomson and Virgin Atlantic. It has three business areas: consulting, training and outsourced services.
Following the acquisition, Baines Simmons will maintain its brand, remain headquartered at Fairoaks Airport in Surrey and continue to be managed by its existing team, led by managing director Andrew Parker.
In 2014, Baines Simmons achieved a £700,000 pre-tax profit from £5.4 million turnover. Air Partner has agreed to pay £5.4 million in cash for the business, plus a further £0.6 million due in January 2018 depending on performance. It expects Baines Simmons to be “earnings enhancing” in its first full year of ownership. The group will release its interim results on Sept. 24.
Liberum, which acted as lead advisor to Air Partner, estimates Baines Simmons will boost the group’s revenues by 7% in the first year, without assuming synergies.
The deal, which was announced Aug. 19, builds on Air Partner’s recent acquisition of aircraft remarketing specialist Cabot Aviation.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.