Certares, a US-based investment specialist dedicated to the travel, tourism and hospitality sectors, acquired a stake in Avia Solutions Group (ASG). Certares will provide a EUR 300 million structured equity investment to ASG.
The transaction is subject to customary conditions and approvals and is expected to close in Q4 2021.
Our pan-Baltic team conducted legal due diligence on the ASG companies in Lithuania, Latvia and Estonia and advised on other relevant aspects of the transaction.
The investment will contribute to Avia Solutions Group’s growth
The investment will help enable the next phase of ASG’s growth plan for services in passenger and cargo aviation, maintenance and engineering, crew training, ground handling and logistics.
The partnership with Certares will provide access to Certares’s complementary expertise and industry network as well as add new members to the ASG Board, which will further strengthen the governance of the organisation
Tom Klein, Senior Managing Director of Certares said: “Avia Solutions Group has built itself into a premier provider of aerospace services. Certares’s investment will support ASG’s growth and consolidation strategy in the aerospace services sector where they have developed both quality and scale advantages. The management team’s track record of building leading market positions in the aerospace services sector as well as ASG’s broad geographic footprint, synergistic service offering and proven ability to source and integrate accretive acquisitions make them a perfect partner for Certares. We look forward to partnering with Avia Solutions Group to grow and geographically expand their leadership positions.”
Our services and project team
In this project, we cooperated with the Herbert Smith Freehills London office. Our pan-Baltic team, consisting of over thirty lawyers, was led by partners Sergej Butov and Piret Jesse, counsel Jānis Bite, senior associates Vaiva Mašidlauskienė and Triin Ploomipuu, and associate Laura Matuizaitė.
