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April 2017

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Argos Soditic, a European private-equity firm, has entered into exclusive negotiations to acquire an ownership position along with Olivier Legrand and Christian Grzanka in Revima Group. The transaction is subject to customary authorisations (works council consultations, approvals from applicable administrative authorities) and is expected to close by the summer 2017. 


The transaction will allow the group to provide an improved quality of service and reinforced agility to anticipate customers’ expectations and adapt to evolving market conditions.


Revima Group will retain its management and staff, and Grzanka and Legrand, two of its existing shareholders, will continue to own significant holdings in the Group. When the operation closes, Grzanka will become Chairman of the Supervisory Board along with Argos Soditic partners, while Legrand will be appointed President & CEO of the Group.


FL Technics had a successful 2016, overcoming the bankruptcy of a major client and a loss of €11 million to produce a growth of over 20% in revenues and a profit of almost €3 million in 2016. These gains have been attributed primarily to the company’s growing operations in the Asia-Pacific, new customers and LEAN business process optimisation. In 2016, FL Technics opened a representative office in Bangkok, Thailand and a new hangar in Jakarta, Indonesia. Increased presence resulted in an upward trend of revenue from the region, which grew on average four times year-on-year. The company also continued the diversification of its client and service portfolio.


GE Aviation has acquired Critical Technologies, branded as AirVault, a privately-owned supplier of cloud-based digital aircraft records management. AirVault’s ability to digitally manage mission-critical records across an industrial supply chain network strengthens GE’s ability to focus on asset lifecycle management and maintenance optimisation for the aviation industry


The combination of AirVault and GE will further enable web-based fleet maintenance records management across the aviation ecosystem with GE’s Configuration Data Exchange. The ability to connect records and data across aviation companies with the IT systems they use to manage their fleets will drive both productivity and data availability. Coupled with GE’s Predix industrial cloud platform, this further strengthens the team in developing meaningful insights and optimising operations over a wide range of aviation applications.


ST Aerospace has injected its proportional share – amounting to S$3.574 million – into the capital of its joint venture, ST Aerospace Aircraft Seats as working capital. ST Aerospace Aircraft Seats is 90% owned by ST Aerospace with the other 10% owned by Tenryu Holdings. This injection is part of ST Aerospace’s planned investment for the joint venture, bringing its total investments to S$12.898 million. Based in Singapore, and part of ST Aerospace’s global network for integrated cabin interiors, ST Aerospace Aircraft Seats is responsible for the end-to-end design and manufacturing of a range of aircraft seating solutions.


StandardAero has entered into a definitive agreement to acquire PAS Technologies, a high technology components provider, to expand its portfolio of MRO service offerings. Terms of the transaction, which is expected to close within the next 60 days, were not disclosed.


PAS specialises in providing OEM and MRO solutions for the aerospace, oil and gas, and industrial gas turbine markets. PAS performs work across a substantial install base of engines including PW4000, LM2500, F117, F110, F100, F414, V2500, CFM56 and its capabilities include both manufacturing and a full suite of special processes. The company leverages its special coating capabilities for new build and aftermarket components to create a balanced business model between manufacturing and repair services across a range of end markets.


TP Aerospace has established a new partnership with the Danish private equity fund CataCap, which has acquired a majority stake in the company. The two founders and owners of TP Aerospace, Peter Lyager and Thomas Ibsø, will continue to form the executive management team and hold significant shares in TP Aerospace. Since 2010, it has experienced an average annual growth rate of 30%, and last year landed a record revenue of $62 million. CataCap will act as a catalyst for sustainable step changes through a systematic and consistent approach to business development, and will work in close collaboration with both management and employees to help strengthen TP Aerospace’s market position.

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