The Growth Fund buys 50% stake in Australia pilot school

Formerly known as Bendigo Aviation Services, Soar offers students with little or no aviation experience flight training courses at two airport-based campuses across Australia. It claims to be the country’s fastest growing flight school, with 45 aircraft, more than 400 students, and more than 80 instructors and support staff.

“The Growth Fund’s focus on bringing in operational skillsets to assist with our execution of national and international strategy will greatly assist Soar Aviation's ambitions to become the leading pilot training provider,” Neel Khokhani, CEO of Soar, told AVCJ.

Proceeds from the investment are expected to support an expansion in Australia and Asia. This effort aims to leverage an airline industry skills shortage as passenger traffic increases. According to Boeing, the global airline industry will need to add more than 2 million new commercial pilots, maintenance technicians and cabin crew between 2017 and 2036.

The Growth Fund invests targets Australia and New Zealand companies with enterprise values of up to A$200 million ($150 million) and closed a A$450 million fundraise in 2016. The firm transacts across founder succession planning, organic and acquisition expansion, management buyout, and take-private strategies.

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• Topics
• Australasia
• Consumer
• Expansion
• Australia
• Growth capital
• Education
• Transportation