KKR acquires 49.9% stake in Inaer

The balance is retained by Southern European private equity investor Investindustrial and the management.

The deal valued the company at €700m and is subject to approval by the relevant regulatory authorities.

Investindustrial's subsidiary World Helicopters, the holding company of Grupo Inaer, was used for the transaction.

Headquartered in Alicante (Spain), the company has 1,700 employees and covers 241 bases throughout Spain, Italy, France, Portugal, United Kingdom and Chile.

Since Investindustrial's entry in 2005, the company has grown its revenues by 2.4 times to more than €300m and its EBITDA by more than 3 times.

Inaer is expected to deliver an adjusted EBITDA of €85m for 2010.

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