Buyout (LBO, MBO, MBI) • Transportation

The Abraaj Group Acquires National Air Services Co.

On January 1, 2005, asset manager The Abraaj Group acquired transportation company National Air Services Co.

Acquisition Context
  • This is The Abraaj Group’s 1st transaction in the Transportation sector.
  • This is The Abraaj Group’s 1st transaction in Saudi Arabia.
Investment Fate
  • National Air Services Co. was sold to a strategic buyer in 2008.

Explore All 601 Buyout (LBO, MBO, MBI) Transportation Deals - Search the Database Free


M&A Deal Summary

Date January 1, 2005
Target National Air Services Co.
Sector Transportation
Buyer(s) The Abraaj Group
Deal Type Buyout (LBO, MBO, MBI)

Target Company

National Air Services Co.

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).
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Buyer Overview 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 Context for Buyer #
Overall 7 of 182
Sector: Transportation 1 of 8
Type: Buyout (LBO, MBO, MBI) 5 of 144
Country: Saudi Arabia 1 of 3
Year: 2005 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-01 Regimanuel Gray

Ghana

Regimanuel Gray (RGL) was formed in 1991 in Ghana as an international joint venture between two construction firms: Ghana-based Regimanuel and US-based Gray Partners. Since then RGL has grown to become the largest home-builder in Ghana, both in terms of volume and value. It has also developed into a regional player in the housing market, with more than 2,000 units delivered in the form of cluster and gated community developments. RGL projects are known for their quality, prime location, social amenities and well-maintained infrastructure, and the company has won several local and international awards.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-13 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.

Buy -