BBA Aviation PLC Acquisition of Firstmark Corp (4082I)
November 26 2018 - 2:00AM
UK Regulatory
TIDMBBA
RNS Number : 4082I
BBA Aviation PLC
26 November 2018
26 November 2018
Completion of the acquisition of Firstmark Corp
BBA Aviation (the "Group"), a market-leading provider of global
aviation support and aftermarket services, is pleased to announce
that it has completed the acquisition of Firstmark Corp
("Firstmark"), an aerospace focused aftermarket service provider on
terms previously announced, having received the necessary
governmental and regulatory approvals. This business will be part
of Ontic, our Aftermarket Services business, under Gareth Hall's
leadership.
As announced on 18 September 2018, Firstmark is a leading
provider of highly engineered proprietary components and subsystems
for the aerospace and defence industries. The acquisition fully
supports the strategic growth of Ontic by expanding the portfolio
of proprietary products on established civil and military aircraft
platforms and adds footprint on the US East Coast.
Notes:
The Group will publish its preliminary results for the year
ended 31 December 2018 on 5 March 2019.
Enquiries:
BBA Aviation plc
David Crook, Group Finance Director
Kate Moy, Head of Investor Relations and Communications
(020) 7514 3999
Tulchan Communications
David Allchurch
(020) 7353 4200
Information on BBA Aviation plc
BBA Aviation plc is a market leading, global aviation support
and aftermarket services provider, primarily focused on servicing
the Business and General Aviation (B&GA) market. We support our
customers through three principal businesses: Signature Flight
Support, Signature TECHNICAir(TM) and EPIC Fuels which provide
premium, full service flight and home base support including
refuelling, ground handling and MRO services through the world's
largest fixed base operation (FBO) network for B&GA users with
around 200 locations covering key destinations in North America,
Europe, South America, Caribbean, Africa and Asia. EPIC Fuels is a
global provider of aviation fuels, supplies and services. Ontic is
a leading provider of high-quality equipment and cost-effective
solutions for the continuing support of maturing and legacy
aerospace platforms with locations in the USA, Europe and Asia.
Engine Repair & Overhaul (ERO)/Global Engine Services is a
leading independent engine service provider to global B&GA
operators, the rotorcraft market and regional airline fleets with
locations in the USA, Europe, South America, Asia and the Middle
East.
On 1 March 2018 BBA Aviation announced that it was conducting a
strategic review of the ERO business and, at the end of May 2018,
management committed to a plan to sell substantially all of the
business and the relevant assets and liabilities were classified as
held for sale.
For more information, please visit www.bbaaviation.com
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END
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