DPE buys Air Alliance

DPE drew equity from Deutsche Private Equity Management III, a €575m buyout fund that held a final close in January 2017. The vehicle generally makes equity investments of between €5-100m.

The company's founder and CEO, Wolfgang Krombach, has taken a minority stake in the transaction.

Air Alliance was put up for sale in February 2017 with Cologne-based M&A boutique Belgravia running the process, according to unquote" sister publication Mergermarket. The report said the company was marketed from an €8-9m EBITDA, but added that earnings in the airline business are very cyclical and difficult to forecast.

DPE will support the company's continued growth, but it will retain its operational base at Siegerland's airport.

Company
Founded in 1993 and headquartered in Siegerland, Air Alliance is a certified operator of Pilatus, Diamond and Gulfstream air ambulances. The company employs 130 people at its offices at the Siegerland Cologne, Vienna and Birmingham airports.

People
Deutsche Private Equity – Volker Hichert (CEO).
Air Alliance – Wolfgang Krombach (CEO).

Advisers
Equity – Belgravia (M&A).

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• Topics
• Buyouts
• DACH
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• Germany