EQT buys Australian aerospace business

The GP is investing via its second infrastructure fund, which closed at EUR1.9 billion ($2.1 billion) in early 2013. It will rebrand the company and nominate an industrial board of directors, although the existing leadership team will remain place. The transaction will close within the month, according to a statement.

Chep Aerospace is the Switzerland-based division of Australian supply chain industries group Chep, and was launched by Brambles in 2011 to supply the aviation industry with services related to cargo handling equipment known as unit load devices (ULD). The company claims to have the largest independent global fleet of ULDs across more than 420 airports.

Brambles reported a 19% increase in aerospace revenue during 2015 to $77.8 million. This was driven by Chep Aerospace operations in 48 service centers employing about 550 people. Clients include more than 90 airlines.

"The company has a proven business model, an impressive customer base and a promising pipeline of prospective airline clients," Ulrich Kollensperger, an infrastructure investment advisor at EQT, said in a separate disclosure. "The industrial board of directors including senior leaders with aviation expertise will support Chep Aerospace Solutions in growing its asset base and offer pooling, management, maintenance and repair to more airlines globally."

EQT's private equity investments focus on buyouts and growth equity in family and entrepreneur-owned businesses, corporate orphans and public-to-private transactions. Its second infrastructure fund is targeting deals of EUR50-250 million in basic and concession-based infrastructure as well as infrastructure-related services.

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• Topics
• Australasia
• Infrastructure
• Support services
• Buyouts
• Infrastructure
• Australia
• EQT Partners
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• Transportation