in Defence

QinetiQ acquires E.I.S. Aircraft Operations

Posted 26 April 2018 · Add Comment

QinetiQ Group plc has entered into an agreement to acquire E.I.S. Aircraft Operations currently part of E.I.S. Aircraft Group, for €70 million on a cash-free, debt-free basis.


Courtesy QinetiQ

Aircraft Operations is a leading provider of airborne training services based in Germany, delivering threat representation and operational readiness for military customers. It generated €20.1m revenue and €5.4m EBITDA in the year to 31 December 2017.

Aircraft Operations delivers airborne training services using a highly cost-effective fleet of 14 leased Pilatus PC-9 and PC-12 aircraft, flown by a team of 20 pilots.

The Business has well established relationships with its customers. It has been the exclusive provider of low-speed aerial training services to the German armed forces since 1999, and delivers aerial training services to the United States Air Force in Europe. It also modifies aircraft for special missions through the integration of sensors and digital systems used in Intelligence, Surveillance and Reconnaissance (ISR).

Steve Wadey, QinetiQ CEO, said: “E.I.S Aircraft Operations is a high growth business which provides airborne training at a disruptively low price. This acquisition supports our strategy for international growth by providing access to the European defence market and enhancing our ability to deliver capability integration, threat representation and operational readiness for customers. We look forward to welcoming the Aircraft Operations team in Germany to QinetiQ and working with them to continue to grow the business both within their existing markets and beyond.”

The business currently forms a discrete business unit within the wider E.I.S Aircraft Group which is owned by EQT and focuses on aircraft interiors for the commercial aerospace market.

The transaction is subject to certain regulatory and legal approvals and is expected to close towards the end of the first half of QinetiQ’s 2019 financial year.

Following completion, Aircraft Operations will continue to be led by its existing management team. It will form part of QinetiQ’s International business unit and will be reported within QinetiQ’s EMEA Services division.

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Gardner acquisition of Northern Aerospace backed by Nat West

One of the aerospace industry’s largest suppliers of aircraft components, Derby based Gardner Aerospace, has agreed a new £90 million bi-lateral funding package with NatWest, enabling it to expand and aquire precision parts

BAE Systems supports development of NMRN

BAE Systems has announced a new collaboration with The National Museum of the Royal Navy (NMRN) in Portsmouth Historic Dockyard, helping to develop the Museum's internationally significant collections.

Britain competes to launch an estimated 2,000 satellites by 2030

During his first visit to the site of a future UK spaceport in Sutherland last week, Business Secretary Greg Clark expanded on the commercial opportunities to be gained.

BSI releases major revision of international standard for auditing management systems

Business standards company, BSI, has published the revised international standard for auditing management systems, BS EN ISO 19011:2018.

MASS introduces military-grade cloud-based network capability beyond government

Cohort plc company, MASS, has developed a new military-grade cloud-based network capability, which includes office functionality, messaging, private secured intranet, video calling and secured software, all hosted on UK

EasyJet in drive to become world's most data driven airline

EasyJet has launched a recruitment drive for 28 data scientists to join the airline’s drive towards data, with Luca Zuccoli, the airline’s first Chief Data Officer, due to join this month.

RUBB_SK_1906190119
See us at
AdvancedEngin BT1406011118Aviation Africa 2019DVD18BT3105200918SMIFAVSBT151118SMI GMSCBT3005081118