M&A Deal Summary

The Blackstone Group, Cascade Investments and Global Infrastructure Partners Acquire Signature Aviation

On February 5, 2021, private equity firm The Blackstone Group, family office Cascade Investments and infrastructure investor Global Infrastructure Partners acquired aerospace company Signature Aviation for 4.7B USD

Acquisition Highlights
  • This is The Blackstone Group’s 2nd, Cascade Investments’ 1st and Global Infrastructure Partners’ 1st transaction in the Aerospace sector.
  • This is The Blackstone Group’s 29th, Cascade Investments’ and Global Infrastructure Partners’ 3rd largest (disclosed) transaction.
  • This is The Blackstone Group’s 25th, Cascade Investments’ 1st and Global Infrastructure Partners’ 3rd transaction in the United Kingdom.

M&A Deal Summary

Date 2021-02-05
Target Signature Aviation
Sector Aerospace
Buyer(s) The Blackstone Group
Cascade Investments
Global Infrastructure Partners
Deal Type Going Private
Deal Value 4.7B USD

Target

Signature Aviation

London, United Kingdom
Signature Aviation is a provider of global aviation support services focused on flight support services and the aviation aftermarket, primarily in the business and general aviation sector. Signature Aviation was founded in 1879 and is based in London, the United Kingdom.

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Buyer(S) 3

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 277 of 336
Sector (Aerospace) 2 of 2
Type (Going Private) 27 of 36
Country (United Kingdom) 25 of 26
Year (2021) 3 of 27
Size (of disclosed) 29 of 172
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-01 Interior Logic

Irvine, California, United States

Interior Logic is a provider of outsourced design center and installation services to homebuilders for new housing construction, including flooring, cabinets, countertops, other home finishes, as well as repair and remodel services to multi-family property owners. Interior Logic Group is based in Marietta, Georgia.

Buy $1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-10 Apria

Indianapolis, Indiana, United States

Apria is a provider of integrated home healthcare equipment and related services in the United States. The company offers a comprehensive range of products and services for in-home care and delivery across three core service lines: home respiratory therapy (including home oxygen and non-invasive ventilation (“NIV”) services), obstructive sleep apnea (“OSA”) treatment (including continuous positive airway pressure (“CPAP”) and bi-level positive airway pressure devices, and patient support services), and negative pressure wound therapy (“NPWT”). Additionally, it supplies a wide range of home medical equipment and other products and services to help improve the quality of life for patients with home care needs. Apria was formed in 1924 and is based in Lake Forest, California.

Sell -
Buyer

Cascade Investments

Kirkland, Washington, United States

Category Family Office
Founded 1995
Size Mega
Type Sector Agnostic
DESCRIPTION

Cascade Investments is the private investment vehicle for Microsoft founder Bill Gates. The Firm invests in public equity, fixed income, alternative assets as well as direct investments. Cascade was formed in 1994 and is based in Kirkland, Washington.


DEAL STATS #
Overall 2 of 2
Sector (Aerospace) 1 of 1
Type (Going Private) 1 of 1
Country (United Kingdom) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-12 Four Seasons Hotels

Toronto, Ontario, Canada

Four Seasons Hotels is a Canadian international luxury, five-star hotel management company. Four Seasons works in partnership with local real estate development companies and investors. Company was formed in 1960 and is based in Toronto, Ontario.

Buy $3.8B
Buyer

Global Infrastructure Partners

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2007
PE ASSETS 115.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Global Infrastructure Partners (GIP) is a global investment firm that invests in infrastructure assets worldwide. GIP looks to work in partnership with the public sector and other stakeholders to improve infrastructure for the community by drawing on its global capability and applying industrial best practices to enhance operating efficiencies. The Firm focuses on larger scale investments in assets that provide essential services, have high barriers to entry and offer significant governance positions. GIP primarily targets opportunities in OECD countries, while maintaining a global perspective and the flexibility to pursue assets with the potential for attractive risk-adjusted returns in selected non-OECD countries. Global Infrastructure Partners was established in 2007 and is headquartered in New York, New York.


DEAL STATS #
Overall 10 of 18
Sector (Aerospace) 1 of 1
Type (Going Private) 1 of 4
Country (United Kingdom) 3 of 3
Year (2021) 1 of 5
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-25 Competitive Power Ventures Holdings

Silver Spring, Maryland, United States

Competitive Power Ventures Holdings, LLC (CPV) is a North American electric power generation development and asset management company headquartered in Silver Spring, Maryland, with offices in Braintree, Massachusetts, San Francisco, California, and Toronto, Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-22 GasLog

Piraeus, Greece

GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog's consolidated fleet consists of 27 LNG carriers (21 ships on the water and 6 on order). GasLog was founded in 2003 and is based in Piraeus, Greece.

Buy -