GERMANY - Marfin Investment Group acquires 49.99% of FAI for EUR 15m

As part of the transaction MIG has retained a 2-year option to potentially increase its participation to 51% of the company's share capital for an additional consideration of EUR 2.5m.

FAI is a fixed-wing medical evacuation company and an approved air service provider for non-hovernmental organisations (NGOs). Based in Nuremberg, the company offers private aviation services to corporate, governmental and non-governmental organisations and individuals, specialising in medical evacuation. The company estimates revenues of EUR 26m with an EBITDA of EUR 6.5m and EBT of EUR 4.6m in 2008. This implies an acquisition EBITDA multiple of 4.9x for 2008 and 3.2x for 2009.

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• Topics
• Expansion
• DACH