CataCap to acquire AerFin

CataCap is drawing equity from CataCap Fund II, which held a first close on DKK 1.2bn in February 2018. This is the firm's third investment from the fund and its first platform investment outside of Denmark.

The firm will take a majority stake in the company, while CEO Bob James will retain a significant equity interest in the business, according to a statement. Schroder Adveq, which is a CataCap LP, has also joined as a co-investor in the transaction. Schroder is currently investing from its Adveq Europe Co-Investments fund, which closed on €102m in 2016.

The company is expected to generate revenues of approximately DKK 780m (£92m) and an operating profit of approximately DKK 115m (£13.6m) in the current financial year. AerFin generated £67.1m in revenues in 2017, up from £63.5m in 2016, with profits rising to £4.97m in 2017, up from £2.5m in 2016. The company's 2014 EBITDA was in excess of £3m.

Following the transaction, the company plans to internationalise further.

Previous funding
CarVal acquired a majority interest in the company in 2014, with CEO Bob James retaining 20% of the shares.

Company
AerFin offers services ranging from whole-aircraft and engine sales and leasing to component support. Founded in 2010 and headquartered in Cardiff, the company operates locations in England, Singapore, the US and Latin America. It employs 90 people, according to LinkedIn.

People
CataCap – Peter Ryttergaard (partner).
AerFin – Bob James (CEO).

Advisers
Equity – Baker Mckenzie (legal); Deloitte (financial due diligence); Oliver Wyman (commercial due diligence).
Company – EY Corporate Finance (corporate finance); A&L Goodbody (legal).
Management – Osborne Clarke (legal); Grant Thornton (financial due diligence).

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