Artá Capital has reached an agreement to acquire 100% of the share capital of Aviaction S.A., marking the exit of Buenavista Equity Partners. Buenavista’s involvement with the company dates back to 2019, when it acquired AIRE, a firm specializing in commercial aircraft interior maintenance, and launched a buy & build strategy that incorporated the companies Air Clean Textil and Servitec. With the acquisition of Servitec, Aviaction significantly expanded its capabilities to provide line maintenance for aircraft. The Aviaction brand was established following the first phase of the integration process, after the success of the diversification strategy, the investment in strengthening the group’s engineering capabilities, and the opening of new workshops became evident.
Aviaction is the leading reference in Spain for cabin maintenance and line maintenance of aircraft, with over 25 years of experience. The company serves major Spanish and international airlines and operates at some of Spain’s main airports. It closed 2024 with revenues of approximately €27 million, doubling the figure at the time of Buenavista’s entry in 2019 despite the impact of COVID-19 on the sector.
The company will continue to be led by Juan Antonio Carrasco, General Manager since 2019, along with the current management team, which has extensive experience in the sector. Artá Capital intends to continue supporting the management team in the next phase of growth, expanding the company’s capabilities while using Aviaction as a platform to consolidate the sector in Spain.
Artá Capital was advised by Deloitte Corporate Finance as financial and debt advisor, by E&Y for financial due diligence, and by Eversheds Sutherland as legal advisor for the transaction. This will be the fourth investment of the Arta Capital Fund III, which closed in November 2024 with a fund size of €400 million for investments.
Buenavista Equity Partners was advised by Greenhill Mizuho as financial advisor, Deloitte Transaction Services for due diligence, and Addleshaw Goddard as legal advisor.
About Aviaction
Headquartered in Madrid, Spain, Aviaction is a group of companies specialized in providing engineering, manufacturing, and maintenance services to the aerospace industry. These companies, AIRE and SERVITEC, contribute their unique strengths to the group, offering a wide range of services and a long-standing commitment to their clients.
Since its founding in 2000, AIRE has been at the forefront of aircraft interior engineering, maintenance and repair (MRO), and manufacturing services. With a highly experienced professional team, AIRE delivers everything from routine maintenance to full cabin modification projects, specializing in designing and implementing customized cabin solutions for clients worldwide.
SERVITEC was founded in 2009 and is one of Spain’s leaders in aircraft line maintenance. SERVITEC is capable of meeting the complex and evolving requirements of the sector, supporting its clients at any airport as needed.
About Artá Capital
Artá Capital is a private equity firm specializing in the Iberian market. Since its founding in 2008, Artá Capital has been one of the most active funds in the market, having invested over €1 billion in 23 leading companies across various sectors, as well as completing more than 50 add-on acquisitions from its portfolio.
More information: https://www.artacapital.com/
About Buenavista Equity Partners
Buenavista Equity Partners is an independent firm founded in 1996 that operates in the middle-market segment. It currently manages over €1 billion across different Private Equity, Infrastructure, and Venture Capital vehicles.
More information: https://www.buenavistaequity.com/
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