M&A Deal Summary

Marfin Investment Group Acquires Olympic Air

On February 1, 2009, private equity firm Marfin Investment Group acquired airliner Olympic Air

Acquisition Highlights
  • This is Marfin Investment Group’s 2nd transaction in the Airlines sector.
  • This is Marfin Investment Group’s 7th transaction in Greece.
Investment Fate
  • Olympic Air was sold to a publicly-traded strategic buyer in 2013 for 72M EUR.

M&A Deal Summary

Date 2009-02-01
Target Olympic Air
Sector Airlines
Buyer(s) Marfin Investment Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Olympic Air

Athens, Greece
website
Olympic Air is a Greek airline, provides air transportation services. The company boasts one of the youngest fleets in Southeastern Europe, comprised of 32 aircraft (16 Airbus ?320 and ?319, 10 Bombardier DHC8-Q400s, 5 Bombardier DHC8-100s and 1 ATR-42). Olympic Air is based in Athens, Greece.

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Buyer(S) 1

Buyer
DESCRIPTION

Marfin Investment Group is a publicly traded investment firm focused on private equity-related investments, as well as investments in privatizations and infrastructure projects. Marfin looks to fund consolidations and other situations where the firm can extract value. Areas of interest include food & beverage, financial services, leisure/hospitality, shipping, IT, real estate and healthcare. Marfin Investment Group was initially formed in 1998 and became public in 2007. The Firm is located in Amaroussian, Greece.


DEAL STATS #
Overall 10 of 11
Sector (Airlines) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 8 of 9
Country (Greece) 7 of 8
Year (2009) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-01 Flight Ambulance International

Nuremberg, Germany

Flight Ambulance International (FAI) is one of the top 3 fixed-wing medical evacuation companies in Europe, one of the top 5 globally and one of the few approved air service providers for the world's largest NGO. The company offers private aviation services to corporate, governmental and non-governmental organisations and individuals, specialising in medical evacuation. FAI owns and/or manages an efficient reliable fleet of Lear Jets (two of the type LJ35, five LJ55 and three LJ60) plus one Falcon 900 DX and one Challenger 604, which is operated by FAI's subsidiary Nomad Aviation, Switzerland. Flight Ambulance International (FAI) was founded in 1986 and is based in Nuremberg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-02 Skyserv

Athens, Greece

Skyserv is a ground handling services provider in Greece, present at 37 Greek airports (out of 39 in total), offering a full spectrum of ground handling services, both in open and in restricted access services, focused on reliability, high safety standards and premium quality of service. In 2012, the company serviced approximately 82,000 flights carrying more than 10.5 million passengers. Skyserv is based in Athens, Greece.

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