TowerBrook exits AIM Altitude stake to AVIC

TowerBrook will exit its controlling stake in AIM Aviation, which trades as AIM Altitude, in the trade sale to AVIC around two years after it acquired the company from LDC, bringing half a decade of private equity backing to an end.

With the GP's backing, AIM acquired Altitude Aerospace Interiors in September 2014, and developed its production and testing facilities in the UK.

Previous funding
TowerBrook acquired a controlling stake in AIM Aviation through an estimated £160m SBO from LDC in 2013.

LDC had first backed AIM in July 2010, when the GP's Midlands office led an MBO of the company.

Company
AIM is a UK-based company that makes aircraft cabin interiors for commercial airlines' Boeing and Airbus planes, as well as military airframes.

The company is involved in the cabin interior production process from design through manufacturing, to certification, installation and maintenance. AIM also produces exterior and interior components for aircraft through its composites division.

Headquartered in Dorset, AIM Altitude was founded in 2014 through the merger of AIM Aviation and Altitude Aerospace Interiors, though AIM's history can be traced back to the early 20th century.

The company had revenues of £117m in 2013/14 and employs a staff of 1,000.

People
Ramez Sousou is the co-CEO of TowerBrook. Xu Tongyu is the vice-president of AVIC. Marks Edwards is the CEO of AIM.

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• Topics
• UK / Ireland
• Exits
• Industrials
• United Kingdom
• Towerbrook Capital Partners
• LDC
• Trade sale