M&A Deal Summary

The Abraaj Group Acquires Jordan Aircraft Maintenance

On January 13, 2005, asset manager The Abraaj Group acquired aerospace company Jordan Aircraft Maintenance

Acquisition Highlights
  • This is The Abraaj Group’s 1st transaction in the Aerospace sector.
  • This is The Abraaj Group’s 1st transaction in Jordan.

M&A Deal Summary
Date 2005-01-13
Target Jordan Aircraft Maintenance
Sector Aerospace
Buyer(s) The Abraaj Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Jordan Aircraft Maintenance

Amman, Jordan
Joramco is a leading MRO provider based in Amman, servicing full-service and low cost carriers across the Middle East, North Africa, Europe, Asia Pacific and CIS. The company is structured around three divisions: hangars, shops and other services, offering traditional MRO work such as heavy maintenance, supplementary structural inspections, airframe repairs, avionic upgrades and ageing aircraft inspections.

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Buyer(S) 1

Buyer

The Abraaj Group

Dubai, United Arab Emirates
Category Asset Manager
Founded 2002
PE ASSETS 7.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abraaj Capital Limited is a private equity firm that seeks investments in the Middle East, North Africa, and South Asia. Abraaj looks for stable, mature businesses and uses a 'buy and build' strategy for growth. Areas of interest include aerospace, healthcare, transportation, financial services, leisure, education, energy, and manufacturing. In addition to its buyout and growth capital investments, Abraaj also invests in real estate and infrastructure. Abraaj Capital was formed in 2002 and is based in Dubai.

DEAL STATS #
Overall 8 of 182
Sector (Aerospace) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 6 of 144
Country (Jordan) 1 of 3
Year (2005) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 National Air Services

Riyadh, Saudi Arabia

National Air Services (NAS), is a regional leader in the aviation industry offering an unmatched portfolio of private and commercial aviation services. NAS holds more licenses and certifications than any other aircraft operator in the entire Middle East, providing opportunities for aircraft fractional ownership and leasing under the NetJets franchise, private and government aircraft management services, charter services, a premium all-business class VIP shuttle (Al Khayala), and its low cost carrier (nas air).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-14 Maktoob.com

Amman, Jordan

Maktoob is a internet portal in the Arab world, providing a variety of online services to millions of users, including the most visited Arabic-language auction facility (souq.com), the first Arabic-language search engine (Araby.com), an interactive TV joint venture with MBC (Maktoob TV), the largest Arabic matrimonial website (Bentelhalal.com), the leading online Arab sports community (Sport4ever.com), with Arabic and English web-based email and chat rooms.

Buy -
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