BaltCap acquires Air Maintenance Estonia

Baltic private equity house BaltCap has wholly acquired Estonian industrial company Air Maintenance Estonia (AME) from SAS, which owned the business since 2003.

AME has been in operation since 1995, initially as a maintenance provider to Estonian Air, which remains a customer. AME has been independent since 2002 and posted a turnover of EEK 196m for 2009. It employs 160 staff.

BaltCap aims to double AME's production capacity in the next two years.

SEB Enskilda Corporate Finance was sole financial adviser to SAS.

Lars-Olof Bolinder is CEO of AME.

BaltCap has four funds under its belt, with total capital of EUR 130m. The investor has  made 38 investments, of which 24 have been fully exited.

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