Baird Capital acquires eCube

Katharine Hidalgo
20 August 2020

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Baird Capital has acquired eCube, an airplane parts recycling company.

The firm is currently investing from its Baird Capital Global Fund, which closed on $310m in June 2017.

The investment will support the growth of the UK business alongside supporting growth in its new continental European facility, expanding parking availability and additional disassembly capacity. The business also plans to expand into North America.

An estimated 489 commercial planes were broken up in 2019, according to a statement. The company expects that to grow to 895 in 2023.

Baird's James Benfield and Andrew Dyer will join the eCube board of directors.

Company
The company is a provider of storage, disassembly and parts re-use and recycling services to aircraft owners in Europe, the Middle East and Asia, including airlines and aircraft leasing companies. Its primary operations and headquarters are in St Athan, Wales, with a second parking and disassembly facility in Castellón, Spain. It was founded in 2011.

People
Baird Capital – James Benfield (partner, managing director).

Advisers
Equity – Eversheds Sutherland (legal); Grant Thornton (financial due diligence, tax); CIL Management Consultants (commercial due diligence).
Vendor – Steen Associates (M&A); Squire Patton Boggs (legal); Mazars (tax).