EQT MID MARKET ACQUIRES E.I.S. AIRCRAFT GROUP
EQT Mid Market acquires E.I.S. Aircraft Group, a leading German manufacturer of light-weight products and provider of services to the aviation industry
Strategy is to support continued growth by developing and broadening service and product offering as well as invest in innovation to maintain E.I.S.’ leading position particularly in the area of light-weight products to the aviation industry
Dr. Peter Grafoner and Dr. Manfred Egner to join the Board of Directors bringing experience from the aviation and industrial products & service industries
The EQT Mid Market Fund (“EQT Mid Market”) has agreed to acquire E.I.S. Aircraft Group (“E.I.S.” or the “Company”) from a group of private shareholders. The management team of E.I.S., with CEO Wolf Schoettner, will continue to drive the growth and development of the Company.
With over 60 years in the aviation industry, E.I.S. is a well-established and innovative product and service provider for the high-growth segments of the aerospace market. Through the acquisition of the specialized thermoplastic producer DEVA Kunststofftechnik GmbH in 2013, E.I.S. strengthened its position as a key supplier of light-weight cabin interior products to aircraft OEMs such as Airbus as well as its tier 1 suppliers. The product portfolio comprises different cabin interior components such as window frames, light-weight separations, passenger service unit panels, class dividers and curtain headers as well as small parts made out of thermoplastic such as brackets and connectors. In addition, E.I.S. provides line maintenance as well as cabin maintenance, repair and overhaul (industry term called “MRO”) and flight training services. Annual revenues of E.I.S. amounted to approximately EUR 40 million in 2013. The Company has around 300 employees.
EQT Mid Market’s strategy is to support the continued growth of E.I.S. across all segments by developing and enhancing the offering to both existing and new clients. Furthermore, the business plan includes investments in operational excellence, innovations and further improvement of light-weight product solutions, which are instrumental for the reduction of aircraft fuel consumption. E.I.S.’ products and services play an important part in the process of lowering greenhouse gas emissions for airlines, also resulting in lower operating costs for the clients. The plan is to also strengthen E.I.S.’ Board of Directors with Dr. Peter Grafoner as designated Chairman (former Chairman and CEO of Mannesmann VDO and former Chairman of AEG Systems & Automation) and Dr. Manfred Egner (former CEO Recaro Aircraft Seating Group) as Board member, bringing experience both from the aviation and industrial products & services industries.
“We will continue to deliver true value to our clients but we will, together with EQT Mid Market, be able to accelerate growth. EQT has vast experience of growing companies and an outstanding network of Industrial Advisors. This combined will help us in strengthening our position as the leading manufacturer of light-weight products and services to the aerospace market,” says Wolf Schoettner, CEO of E.I.S..
“E.I.S. operates in an industry with strong underlying market fundamentals offering innovative products and services to their clients. We look forward to working together with the E.I.S. management team and supporting the Company during its next stage of growth,” says Dr. Peter Grafoner, designated Chairman of the Board of E.I.S. and Industrial Advisor to EQT Mid Market.
“We are impressed by the management team and the Company’s growth trajectory. E.I.S. has a strong market position with blue-chip clients thanks to its unique capabilities in product technology, innovation and not the least the sustainability aspects of increasing the usage of light-weight components in aircrafts,” says Dr. Andreas Fischer, Partner at EQT Partners, Investment Advisor to EQT Mid Market.
The parties have agreed not to disclose the transaction value.
Partner at EQT Partners, Investment Advisor to EQT Mid Market +49 69 247 045 130
Dr. Andreas Fischer
Partner at EQT Partners, Investment Advisor to EQT Mid Market +49 69 247 045 114
EQT Spokesperson +46 8 506 55 334
EQT is the leading private equity group in Northern Europe, with portfolio companies in Northern and Eastern Europe, Asia and the US with total sales of more than EUR 25 billion and over 500,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More information can be found on www.eqt.se
About E.I.S. Aircraft Group
E.I.S. Aircraft Group (“E.I.S.” or the “Company”) consists of E.I.S. Aircraft GmbH and DEVA Kunststofftechnik GmbH. E.I.S. is a well-established product and service provider focused on high growth segments of the aerospace market with more than 60 years of innovation, design and service experience. The Company’s three main businesses, Aviation Products, Aviation Services as well as Simulation and Training Services together offer a comprehensive scope of capabilities throughout the whole value chain, ranging from design and engineering through production to aftermarket support. E.I.S. generated revenues of approximately EUR 40 million in 2013.
Further information can be found at www.eis-group.de