Avia Solutions Group, a global aviation holding company, has entered into an agreement to acquire 100 per cent of the shareholding in UK-headquartered Chapman Freeborn Group.
The acquisition agreement – of which the financial terms were not disclosed – for the global aircraft charter solutions company was signed in London, UK on 14 June 2019.
The addition of Chapman Freeborn’s worldwide businesses will bolster the current business portfolio of Avia Solutions Group – a global holding company with 42 subsidiaries engaged in aircraft maintenance, pilot training, ground handling and fuelling, aviation IT solutions and business aviation.
As part of the Avia Solutions Group, Chapman Freeborn will maintain its existing product portfolio and continue to operate under the group’s existing brands – including subsidiaries Chapman Freeborn Airchartering, Chapman Freeborn OBC, Intradco Cargo Services, Logik Logistics, Magma Aviation and Wings 24.
The consolidated revenues of the two entities were EUR 800 million for 2018 and are forecasted to exceed EUR 1.0 billion in 2019, Avia says. After the acquisition is completed, subject to customary approvals, Avia Solutions Group will own 66 companies in 26 countries worldwide, with approximately 3,300 professionals in total.
Gediminas Ziemelis, chairman of the Board at Avia Solutions Group, says: “This acquisition is part of our strategic plan to expand our presence in key sectors, and significantly strengthens the capabilities of our group.
“Chapman Freeborn’s client portfolio and its outstanding level of expertise will greatly support our ambition to be the world’s leading aviation services provider. Avia Solutions Group and Chapman Freeborn both enjoy excellent reputations in the market, and together we share a common passion for delivering innovative client-focused services. With an even greater global footprint, we can harness the synergies of our two like-minded companies to achieve even more ambitious results,” Ziemelis adds.
Russi Batliwala, CEO of Chapman Freeborn, comments: “This is an important moment for Chapman Freeborn as we continue to expand the strength of our group around the world. Joining forces with Avia Solutions Group will provide us with a greater level of business scale, resources and expertise to accelerate growth and deliver our services to an even wider client base – all while preserving our unique company culture and ongoing commitment to charter market innovation.”
He adds: “Avia Solutions Group is the perfect strategic fit for us and their commitment to maintaining the approach that has made Chapman Freeborn successful for more than 46 years means this is an exciting opportunity – not only for us but also the charter industry more broadly.”
The Chapman Freeborn group was established in the UK in 1973 and now has offices worldwide including North America, Europe, Africa, Asia and Australia. In the cargo market, Chapman Freeborn Airchartering specialises in the charter and lease of aircraft for a wide-ranging customer base, including freight forwarders, multinational corporations, governments, humanitarian agencies and a host of industries around the globe.
In addition to freight services, Chapman Freeborn offers specialist passenger services including private jet charters for executive travel and large aircraft for crew rotations and international group travel.