3i sells Pilatus stake to IHAG Holding

The value of the deal has not been disclosed. IHAG Holding had been a shareholder in the company prior to the transaction and now owns a 41% stake. The transaction is believed to further enhance stability in the existing shareholder base.

Previous funding
3i acquired a 10% stake in Pilatus from Karl Nicklaus, a private investor, for an undisclosed sum in 2005. According to the investor, the company has developed successfully and consistently improved despite a difficult market.

A return on investment has not been disclosed.

Company
Pilatus was established in 1939 and is a global manufacturer of single-engine turboprop aircraft. Headquartered in Stans, Switzerland, the company has additional subsidiaries in Broomfield, Colorado and Adelaide, Australia.

During the course of 3i's involvement, the company successfully launched the PC-21 trainer aircraft.

People
André Perwas is director at 3i in Frankfurt. Oscar Schwenk is chairman and CEO of Pilatus.

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