YFM backs MBO of ACC Aviation

The GP drew down capital from the British Smaller Companies VCT funds and YFMEP II, its co-investment vehicle.

The business will use the fresh funding to expand its international reach in the Middle East and Asia, and develop its existing offerings.

As part of the deal, the company's founder, Chris Clapham, will retire from the business; existing CEO, Phil Aird-Mash, will continue to lead the team. YFM has introduced Paul Carter as non-executive chairman of the business.

Company
Founded in 2002 and based in Surrey, ACC leases and charters commercial, regional and private jets. The company provides fleet support for airlines needing extra capacity, exeuctive aircraft chartering and group travel chartering services.

The company expects to turn over £53m this year. It has offices in Reigate and Rome and employs 30 people.

People
Jamie Roberts, investment director, led the deal for YFM.

Advisers
Equity – WK Corporate Finance (Financial due diligence, tax); ASB Law (Legal); MBA & Co (Commercial due diligence).
Management – Stevens and Bolton (Legal); Ward Williams (Corporate finance, tax).
Vendor – Grant Thornton (Corporate finance); Morrisons (Legal).

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• Topics
• UK / Ireland
• Industrials
• Buyouts
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• YFM Group