Spain — Ekhbary News Agency
Private equity firms Magnum Capital and Artá Capital have finalized an agreement to merge their aircraft maintenance service businesses, creating Spain's largest independent group in commercial and executive aviation MRO. This strategic consolidation, for all intents and purposes, establishes a dominant player in the Spanish market. The valuation of this significant operation exceeds 150 million euros, according to market sources close to EXPANSIÓN.
New Aviation Maintenance Giant Takes Shape
The newly formed entity, yet to be named, will integrate Aeronáutica de Gestión (AG), acquired by Magnum in January, with Aviaction, which joined Artá Capital's portfolio late last year. Combined, the new group anticipates revenues surpassing 50 million euros, with an EBITDA projected around 15 million euros. Magnum and Artá will hold similar stakes, controlling approximately 90% of the merged company, as stated in a joint announcement. José Capilla, founder of AG, will serve as executive chairman, retaining about a 10% share, while Juan Antonio Carrasco, Aviaction's CEO, will assume the role of CEO, reporting to Capilla.
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Strategic Expansion and Market Impact
The merger notification has been submitted to the CNMC, Spain's competition authority, with closure expected in the coming months. This move aims to enhance both companies' capabilities and accelerate international growth, positioning the group against competitors like Boost Air. The expanded capabilities will encompass cabin design and maintenance, component repair, line maintenance, and technical cleaning for both commercial and executive aircraft. The combined workforce will exceed 500 employees, solidifying its position within the competitive European aviation services landscape. A&O Shearman, Andersen, Eversheds Sutherland, and Herbert Smith Freehills provided legal counsel for the transaction.
