Avion Group today completed a full equity financing enabling the company to accelerate its international expansion. Following the successful operation of its flight training center in Malta, the commercial contract with IAGO and the opening of a new flight training centre at London Gatwick later this year, this is again a major step forward in building the leading independent Full Motion Flight Simulator company in the world.
In the transaction announced today, Kempen European Private Equity Fund will acquire a substantial stake in the company, further strengthening the company’s shareholder base and providing capital for further growth.
“We are delighted to have Kempen as a prominent new investor on board. The proceeds of the issuance of new shares will firstly be used to upgrade our Phantom simulator to the new 2.0 UPRT industry standard and develop new features,” said Erik Varwijk, Avion’s CEO, “and secondly on the pre-financing of the development of new fully owned flight training centers.”
Sven Smeets, Co-head Private Markets and Marvin de Jong, Director Private Markets added: “We are thrilled to support Avion with its development and expansion strategy. We invest in small and medium sized business that have strong potential for growth. We believe that Avion has the potential of becoming a market leader in its own niche market and we are ready to support the business for the long term, both financially as well as strategically.”
Remco van den Heuvel, Managing Partner of majority shareholder 5square said: “We are happy to welcome Kempen to the shareholder base of Avion. This strengthens the financial position of Avion and enable it to speed up its international expansion’.
Avion is a manufacturer of the innovative Phantom flight simulator and also operates flight simulator centers. The Phantom A320 is a high quality, light weight, modular, self-contained and efficient new generation simulator for pilot training.
Kempen Capital Management N.V. (Kempen) is a fully owned subsidiary of Kempen & Co N.V., which is part of the Van Lanschot Kempen Group. Van Lanschot Kempen is listed on Euronext Amsterdam and it is known as the oldest independent financial institution in the Netherlands with a history dating back to 1737. Kempen provides asset management services with a focus on professional clients, with offices in Amsterdam, London and Paris. Per 31 December 2018, the total client assets of Kempen amounted to € 59 billion. The Kempen European Private Equity Fund (the Sub-Fund) is a sub-fund of Kempen Alternative Markets Fund, a Luxemburg based closed-end investment fund.
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