Better together: Jet Aviation acquires Hawker Pacific for $250 million
Swiss-based business aviation service provider, Jet Aviation has acquired Hawker Pacific for $250 million in an all-cash transaction.
Predominantly known as an integrated aviation solutions provider, Hawker Pacific is mainly active in the Middle East and Asia. Prior to the deal, it was owned at 34% by Seacor, a risk management consultancy, with the rest belonging to private equity fund, Britton Hill.
"The acquisition of Hawker Pacific represents a significant step in expanding our footprint, capability and customer offer across Asia-Pacific and the Middle East" said Jet Aviation's president, Rob Smith.
"Hawker Pacific has a wide range of services including Civil MRO, Fleet Services, FBO Network and Aircraft Sales, enabling Jet Aviation to further expand its current portfolio, enter new markets, and reinforce the company’s position as one of the world’s leading business aviation service providers."
Initially founded in 1980, Hawker Pacific underwent a serious of merger deals before going public in 1998. The company then acquired the landing gear, flap track and flap carriage business from British Airways, before being acquired by Lufthansa itself. Ultimately, the company was bought by Britton Hill Holdings, a private equity fund originally co-founded by Jeb Bush.
Based in Basel, Switzerland, Jet Aviation was created in 1967. After a series of change in ownership after an original, 38 year tenure by the Hirschmann family, the company was eventually acquired by the publicly listed, General Dynamics.