M&A Deal Summary

STAR Capital Partnership Acquires ASL Aviation Holdings

On February 13, 2019, private equity firm STAR Capital Partnership acquired airliner ASL Aviation Holdings from CMB and 3P Air freighters

Acquisition Highlights
  • This is STAR Capital Partnership’s 1st transaction in the Airlines sector.
  • This is STAR Capital Partnership’s 2nd transaction in Ireland.

M&A Deal Summary

Date 2019-02-13
Target ASL Aviation Holdings
Sector Airlines
Buyer(s) STAR Capital Partnership
Sellers(s) CMB
3P Air freighters
Deal Type Divestiture

Target

ASL Aviation Holdings

Dublin, Ireland
ASL Aviation Group is a provider of aviation services. ASL’s airlines operate scheduled and charter flights under their own brands and operate passenger and cargo networks on behalf of major international customers including express freight integrators and passenger airlines. ASL Aviation Group is based in Dublin, Ireland.

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Buyer(S) 1

Buyer

STAR Capital Partnership

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 2.5B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

STAR Capital Partners is a private equity firm that seeks investments in capital intensive businesses operating in Western Europe. STAR looks to invest in companies valued between EUR50 million and EUR1 billion. The Firm will consider opportunities in many industries, however, the Firm's primary emphasis is on businesses operating in the oil & gas, transport, utilities, telecommunications and healthcare sectors. STAR Capital was formed in 1999 and is based in London.


DEAL STATS #
Overall 21 of 31
Sector (Airlines) 1 of 1
Type (Divestiture) 7 of 9
Country (Ireland) 2 of 2
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-30 GSLS

Dublin, Ireland

GSLS provides a comprehensive cash logistics service, including cash in transit services, cash processing and the supply of notes and coins to an array of businesses. GSLS was founded in 2004 and is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-23 Windhoist

Irvine, United Kingdom

Windhoist is a wind turbine installation contractor offering heavy cranage and mechanical/electrical services to the principal wind turbine suppliers in the market including Vestas Celtic, Senvion, Siemens, Nordex, Acciona, Enercon, and Gamesa. The company supplies an integrated package reducing interfaces and wind risks to clients and afforded on a lump sum basis. Windhoist was founded in 2005 and is based in Irvine, Scotland.

Buy -

Seller(S) 2

SELLER

CMB

Antwerpen, Belgium

Category Company
Founded 1895
Sector Transportation
Revenue 496M USD (2014)
DESCRIPTION

CMB specializes in dry bulk maritime transport and also owns and operates warehouses, as well as engages in real estate. The company transports dry bulk goods, primarily coal, iron ores, and grains principally in Belgium. The company’s fleet primarily consists of capsize, panamax, and handymax vessels. CMB was founded in 1895 and is based in Antwerpen, Belgium.


DEAL STATS #
Overall 1 of 1
Sector (Airlines) 1 of 1
Type (Divestiture) 1 of 1
Country (Ireland) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-23 Delphis - Dry Bulk

Belgium

Delphis - Dry Bulk engages in the transshipment of bulk commodities and general cargoes.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-31 Revolve Technologies

Brentwood, United Kingdom

Revolve Technologies is an automotive engineering business that owns a leading performance parts brand, Mountune. The Mountune division, whose products are used by consumers and racing teams to enhance engine performance. Revolve Technologies was founded in 1995 and is based in Brentwood, United Kingdom.

Buy -
SELLER

3P Air freighters

Dublin,, Ireland

Category Company
Founded 2007
Sector Aerospace
DESCRIPTION

3P Airfreighters Limited, a leasing company, builds, owns, and leases a fleet of aircraft to operational carriers.


DEAL STATS #
Overall 1 of 1
Sector (Airlines) 1 of 1
Type (Divestiture) 1 of 1
Country (Ireland) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-24 ASL Aviation Holdings

Dublin, Ireland

ASL Aviation Group is a provider of aviation services. ASL’s airlines operate scheduled and charter flights under their own brands and operate passenger and cargo networks on behalf of major international customers including express freight integrators and passenger airlines. ASL Aviation Group is based in Dublin, Ireland.

Buy -