Cobham is to acquire from Aerodata the 49% stake it does not already own in UK-based Flight Precision (FPL) and 100% of the share capital of Aerodata Flight Inspection, based in Germany, for a total of as much as £11.2 million ($20 million). Subject to regulatory approval, the acquisitions are expected to be completed in the first quarter of 2006. “The flight inspection service market worldwide is growing steadily with the emergence of new airports and equipment upgrades and a trend by military and civil organisations to outsource flight inspection activities. With an enlarged fleet of common aircraft and bases in the UK and mainland Europe we are well placed for further growth,” says Alex Hannam, group managing director of Cobham’s services division. The acquisition is expected to be immediately earnings enhancing.
Source: Flight International
