3rd Oct 2008 16:50
BBA Aviation plc Tel +44 (0)20 7514 3999
20 Balderton Street Fax +44(0)20 7408 2318
London W1K 6TL www.bbaaviation.com
UK
3 October 2008
ACQUISITION OF HAWKER BEECHCRAFT'S LINE SERVICE OPERATIONS AT VAN NUYS
Further to its announcements on 22 February 2008 of its agreement to acquire Hawker Beechcraft Services Inc's Line Services Operations and on 24 July 2008 of its completion of the acquisition of six of the seven bases, BBA Aviation today announces that it has completed the purchase of the seventh base at Van Nuys, California.
Enquiries:
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BBA Aviation plc
Andrew Wood, Finance Director
020 7514 3950
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Brunswick Group LLP
Simon Sporborg / Victoria Pease
020 7404 5959
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Notes to Editors
The consideration for the overall transaction was $128.5M on a debt and cash free basis. The acquisition consisted of seven geographically diverse Fixed Base Operations (FBOs) in strategically important growth markets in the US at Van Nuys, California, Tampa, Florida, Houston, Texas, San Antonio, Texas, Indianapolis, Indiana, Atlanta, Georgia and Wichita, Kansas. The sites have an average lease term of 15 years. Hawker Beechcraft is retaining its factory-owned Hawker Beechcraft Services maintenance and customer support facilities co-located at these locations. Hawker Beechcraft's operations in Little Rock, Arkansas, Chester, England, UK and Toluca, Mexico are not affected.
BBA Aviation
BBA Aviation is a world leader in aviation services focusing on Aviation Flight Support and Aftermarket Services and Systems. BBA Aviation provides flight support services for corporate and commercial aviation customers as well as maintenance, repair, overhaul and spare parts for aircraft engines. It also supplies aviation components, landing gear and hydraulic systems. These are attractive niches in a $250 billion market with clear barriers to entry, where BBA Aviation has leading positions, well-known and reputable brands and a proven track record of organic and acquisition-led growth.
BBA Aviation was formerly part of BBA Group, but following the demerger of Fiberweb, in November 2006 it became a stand-alone aviation services business.
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