Report

QuickView: Landmark deal

The $2,065m purchase of Landmark Aviation is a transformational deal for BBA Aviation, extending its leadership in the global airport fixed-base operation (FBO) market, especially in the US. The clear focus on the Flight Support business confirms the future strategic direction at BBA’s core. While near-term debt metrics are stretched (despite the rights issue), the acquisition potentially unlocks BBA as a growth vehicle via both enhanced organic development and longer-term deals around the world.
Underlying
Signature Aviation Plc

BBA Aviation is a global aviation support and aftermarket services provider, primarily focused on servicing the Business and General Aviation (B&GA) market. Co. operates in two divisions: Flight Support and Aftermarket Services. The Flight Support division comprised of Signature Flight Support, which is a fixed base operation (FBO) network for B&GA users. The Aftermarket Services division comprised of: Ontic, which is a provider of equipment and solutions for the continuing support of maturing and aerospace platforms; and Engine Repair & Overhaul (ERO), which is an independent engine service provider to global B&GA operators, the rotorcraft market and regional airline fleets.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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