Apax France sells aviation division of SK FireSafety

SK AeroSafety's management team, headed by CEO Chris Wright, will invest alongside LLCP.

Apax bought Netherlands-based fire safety company SK FireSafety Group from Bencis Capital Partners, Scheybeek Investments and other shareholders in 2014. The GP completed the investment via Apax France VIII, a €700m mid-cap fund that closed in 2011. Bencis had a stake in the business since 2010.

Based in Breda, SK FireSafety traditionally focused on three areas: sale and maintenance of fire protection products; design and installation of fire detection and suppression systems and equipment; and maintenance of cabin safety equipment in the aviation sector (the latter division currently being acquired by LLCP). In 2017, SK FireSafety Group generated revenues of €109m, up 3% on 2016.

Company
SK AeroSafety specialises in the inspection, testing, maintenance and repair of critical passenger safety equipment found on all commercial and private aircraft worldwide. It produces equipment including life vests, fire extinguishers, oxygen masks, oxygen cylinders, evacuation slides and life rafts.

SK AeroSafety supports airlines, component service providers, maintenance and repair organisations and original equipment manufacturers, and has locations in the Netherlands, the UK, the US, Malaysia and Dubai.

People
Levine Leichtman Capital Partners – Wouter Snoeijers (managing director).
SK AeroSafety – Chris Wright (CEO).

Advisers
Equity – PwC (financial due diligence); NautaDutilh (legal).

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