Spain's leading private aviation companies, Gestair and Executive Airlines have reached an agreement to create the first private aviation company in Spain. The transaction is only subject to Spanish competition authorities’ approval.
NAZCA CAPITAL, which has lead the operation, will manage the merger of the two companies, maintaining their own licenses as aircraft operators, which will generate synergies in specific services.
The new group will progressively work on a new corporate identity and synergies. The merges between airline companies have been experienced in commercial aviation sector and it is now essential in the private aviation industry.
The agreement will create a company that will manage 30 aircrafts, with over 300 employees, and a turnover of more than €80 million.
The new group will be formed by two benchmarks in the private aviation sector. Gestair the pioneer inprivate aviation industry in Spain, founded 35 years ago specialized inaircraft’s management, charter, maintenance and handling and Executive Airlines a leading company highly specialized inaircraft’s management and charter.
Both companies will join their skills and licenses in the base maintenance business that allow them to offer aircrafts scheduled maintenance services of the main aircrafts manufacturers (Gulfstream, Falcon, Cessna, Hawker, Bombardier and Learjet), through Gestair Maintenance, the only center in Southern Europe. In 2015, Gestair Maintenance, has moved its new facilities and offices to Hangar 2 of Adolfo Suarez Airport Madrid-Barajas, which has been refurbished and equipped with modern equipments.
About Nazca
Nazca Capital is a Spanish private equity firm with focus on the mid-market segment that operates since 2001. Nazca leads its market segment, both by volume of deals and by profitability of its investments. Since 2001 Nazca has completed 46 transactions: 21 acquisitions, 13 further built-ups on portfolio companies and 12 divestments.
NAZCA has fully invested and divested the fund Fondo Nazca I and partially the fund Fondo Nazca II with sizes of €100 million and €150 million, respectively. At present, NAZCA manages its third fund Fondo Nazca III, a €232 million fund with international institutional investors.
NAZCA’s current shareholder portfolio comprises 9 companies: Autor (outdoor advertising), Logifrio (specialized logistics), Eurekakids (educational toys), Grupo IMO (radiotherapy services), Grupo OM (visual merchandising), Agromillora (R&D in the agricultural sector), Gestair (private aviation), FoodBox (retail food) and El Granero Integral (natural and organic food). NAZCA has divested from: Svenson (hair treatments), Rodilla (fast food), Dibaq (animal feeding), Unipost (postal operator), Vinartis (wine sector), Lizarrán (food-retail), El Derecho (legal contents), Guzmán (gourmet food), Acens (hosting), Hedonai (medical-aesthetic sector), Elogos (e-learning) and Fritta (Frits and glazes in ceramic sector). www.nazca.es
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