Charter and business aircraft management firm Hangar 8 is poised to unveil the acquisition of a smaller rival in the next few weeks.
Speaking on the back of its results for the 14 months to 30 June 2011 - its first full-year figures as a stock market-listed company - chief financial officer Philip Brady said the deal was due to complete "very shortly". He declined to be drawn on further details of the target company, save for the fact that it operates fewer than 10 aircraft.
There are another two potential deals in the pipeline, he added, which together would give the company a good geographical spread.
"Certainly in the UK there's an oversupply of aircraft in the marketplace, and we have most of Europe covered with our existing fleet," he said. "We are much more interested in niche markets outside of that."
The company has succeeded in growing its African and central Asian operations, focusing on work in the oil and gas sector.
During this period Hangar 8 increased its revenue to £18.1 million ($29.0 million), up from £10.9 million in the 12 months to 30 April 2010. Operating profit - before exceptional items - stood at £731,000.
However, once these items - mainly due to the funding of the floatation - are factored in, the business made a loss of £405,000.
Brady said the stock market listing has given Hangar 8 additional leverage in the market, and added: "It's changed the whole way of doing business. When a customer spends £200,000 on a charter with us he now is much more confident the [Embraer] Lineage he's ordered will turn up."
Aircraft owners looking for management services are also more likely to trust the business with multi-million pound assets, he added.
Hangar 8's managed fleet now stands at 32 aircraft, including the only European-registered Embraer Lineage and Hawker 4000.
Source: Flight International