Bahrain Mumtalakat Holding Company (Mumtalakat),
the sovereign wealth fund of the Kingdom of Bahrain, has acquired a significant
minority stake in Axtmann Aviation Holding GmbH that operates FAI Aviation Group
(FAI), a leading global provider of mission-critical aviation services, offering
fixed-wing air ambulance, special missions, charter and aircraft management, as
well as full MRO services.
Founded in 1986, FAI operates from its base in
Albrecht Dürer International airport in Nuremberg, Germany. With over 30 years
of experience in business aviation, FAI is one of the largest General Aviation
operators in Europe. A market leader in intercontinental air ambulance patient
transport, FAI offers continuous worldwide air ambulance services staffed with
qualified medical personnel and state of the art medical technology. Its
aircraft fly more than 13,000 flight hours annually and its clientele include
the world´s leading insurance- and assistance companies, NGO´s and prominent
health authorities in the wider GCC region.
|Commenting on this latest investment by the
sovereign wealth fund, Mahmood H.
Alkooheji, Mumtalakat’s Chief
Executive Officer, said, “It has perhaps never been as important as it is today
to support rapid aviation response to crisis situations.
Over the last 30 years,
FAI has significantly grown its capabilities and service offerings, establishing
stable and lasting relationships across a diverse set of customers, helping
critical aid services reach people across the world.”
Mahmood H. Alkooheji
Further explaining Mumtalakat’s interest, he
noted, “This investment is aligned with our objective to invest in companies
with strong track records of growth and experienced management teams. Aviation
is a key component of our portfolio and we aim to leverage our sector knowledge
and expertise to add value to the company and support its potential expansion
into the wider GCC region.”
added, “We are pleased that our specialized expertise in aviation services is
globally recognized and delighted about the opportunity to cooperate with a
powerful partner such as Mumtalakat.
Together we will expand FAI as the leading
player in the sector and increase our share in the General Aviation Market in
the Middle East, adding value to the corporate and humanitarian sectors alike.
Safety, efficient delivery and environmental protection are at the heart of our
Jefferies International Limited acted as
sell-side advisor on the transaction. The transaction is still subject to the
approval by Cypriot and German Merger Control Authorities.