Chapman Freeborn to target growth following acquisition by Avia Solutions
18 / 06 / 2019
By Damian Brett
Aviation group Avia Solutions Group has entered into an agreement to acquire UK-headquartered Chapman Freeborn Group as the broker aims to accelerate growth.
Terms of the deal, signed on June 14, were not disclosed and the transaction is expected to close in the third quarter of the year.
Chapman Freeborn chief executive Russi Batliwala was positive about the deal, saying it would position the company for further growth.
Batliwala said: “This is an important moment for Chapman Freeborn as we continue to expand the strength of our group around the world. Joining forces with Avia Solutions Group will provide us with a greater level of business scale, resources and expertise to accelerate growth and deliver our services to an even wider client base – all while preserving our unique company culture and ongoing commitment to charter market innovation.
“Avia Solutions Group is the perfect strategic fit for us and their commitment to maintaining the approach that has made Chapman Freeborn successful for more than 46 years means this is an exciting opportunity – not only for us but also the charter industry more broadly.”
Following completion, the two companies said that Chapman Freeborn will maintain its existing product portfolio and continue to operate under the group’s existing brands – including subsidiaries Chapman Freeborn Airchartering, Chapman Freeborn OBC, Intradco Cargo Services, Logik Logistics, Magma Aviation, and Wings 24.
Gediminas Ziemelis, chairman of the Board at Avia Solutions Group, added: “This acquisition is part of our strategic plan to expand our presence in key sectors, and significantly strengthens the capabilities of our group. Chapman Freeborn’s client portfolio and its outstanding level of expertise will greatly support our ambition to be the world’s leading aviation services provider.
“Avia Solutions Group and Chapman Freeborn both enjoy excellent reputations in the market, and together we share a common passion for delivering innovative client-focused services. With an even greater global footprint, we can harness the synergies of our two like-minded companies to achieve even more ambitious results.”
The consolidated revenues of the two entities were €800 million for 2018 and are forecast to exceed €1bn in 2019. After the acquisition is completed, subject to customary approvals, Avia Solutions Group will own 66 companies in 26 countries worldwide, with approximately 3300 professionals in total.