Airline Services gains LDC investment

Victoria
By Victoria March 26, 2012 15:26

Airline Services gains LDC investment

Airline Services says investment in the business by private equity firm LDC gives it the firepower to pursue acquisitions as well as organic expansion. LDC has taken a significant stake in the company, which has its headquarters in Manchester. Chief executive Bryan Bodek said LDC’s financial backing would enable the business to deliver its ambitious growth plans. “As well as increasing the pace of organic growth, we are keen to pursue a number of bolt-on acquisitions to broaden our service offering and position the business with new customers in the UK and overseas,” he said. Airline Services provides maintenance, repair and overhaul services to more than 100 airlines and aviation businesses in the UK and internationally. They include aircraft de-icing, the repair and overhaul of cabin interiors, seats, galley equipment and in-flight entertainment, and the supply of aircraft components. It has a presence at 12 UK airports. Annual turnover is close to £60m. LDC has used capital from its £200m manufacturing and specialist engineering commitment to invest in Airline Services. The deal values the business at more than £30m. Jon Pickering, an investment director at LDC in Manchester, said: “Airline Services is an impressive company which boasts a unique service proposition. Having enjoyed significant growth in recent years across all its divisions, we intend to build further on this success and support its organic and acquisitive growth strategy going forward.”

Victoria
By Victoria March 26, 2012 15:26
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