Business aviation services company Jet Aviation says it has signed a binding agreement to buy aircraft sales and support company Hawker Pacific for US$250 million (A$322 million).
The announcement was made on Wednesday (European time), with the transaction “subject to customary closing conditions”, the Basel, Switzerland-based Jet Aviation said in a statement.
Jet Aviation president Rob Smith said the acquisition of Hawker Pacific represented a significant step in expanding the company’s presence in the Asia Pacific and Middle East.
“Hawker Pacific has a wide range of services including Civil MRO, Fleet Services, FBO Network and Aircraft Sales, enabling Jet Aviation to further expand its current portfolio, enter new markets, and reinforce the company’s position as one of the world’s leading business aviation service providers,” he said.
In Australia, Hawker Pacific’s Cairns workshop performs heavy maintenance checks on commercial passenger turboprops from Bombardier and ATR, as well as Beechcraft aircraft.
Meanwhile, its Bankstown facility in south-west Sydney also specialises in Beechcraft’s King Air and Beech 1900s, along with Dassault Falcon business jets.
The company also has workshops throughout Asia in key locations such as Kuala Lumpur, Manila, Shanghai and Singapore.
On the sales side, the company offers sales and support services for Textron’s Beechcraft, Cessna and Bell Helicopter range, as well as the Diamond Aircraft range, in various markets across the Asia Pacific and Middle East.
Hawker Pacific chief executive Alan Smith said the company’s acquisition by Jet Aviation represented an excellent outcome for its investors, employees and customers.
“It builds on our strong values and passion for exceeding our customer’s expectations and I, on behalf of the management, am confident that the combination of the two companies will create a clear leader in the aviation space,” he said.
Jet Aviation, which has about 30 locations across Asia, the Caribbean, Europe, the Middle East,and North America, offers maintenance, completions and refurbishment, engineering, FBO and fuel services, along with aircraft management, charter services and personnel services.
The company also has aircraft management and charter division that comprised a fleet of about 250 aircraft.
It is part of United States-headquartered aerospace and defence giant General Dynamics, which is the parent company of Gulfstream.