Thu, 01 Feb 2024 | BUSINESS SALE
Specialist Aviation Services (SAS), a Gloucestershire company that provided helicopter emergency medical services to a range of UK air ambulance charities, has been acquired out of administration. The company fell into administration on January 31, before administrators completed a pre-pack sale to AIM-listed business aviation specialist Gama Aviation.
Based out of Gloucestershire Airport, SAS provided services for air ambulance charities across Dorset, Surrey, Somerset, Sussex, Kent, Hertfordshire, Essex, London and the East of England. In addition, the company, which supported more than 5,000 critical flights last year, provided fleet management and servicing for private organisations in the UK, as well as in the Middle East, with operations in Bahrain and Kuwait.
However, according to administrators, the company had incurred operating losses over a number of years and had taken “significant steps” to overcome these challenges, such as seeking new funding.
The company first engaged FRP Advisory to run an accelerated M&A process in October, with the priority of securing a solution to maintain its vital air ambulance operations with no disruption. FRP’s Andrew Sheridan and Jonathan Dunn were subsequently appointed as joint administrators and completed the pre-pack sale of the firm, which sees all but two of its 184 staff transfer to Gama Aviation.
Andrew Sheridan commented: “This was a complex transaction, in the heavily regulated aviation sector, and key parties included aircraft financiers, global OEMs, overseas government contracts and of course the air ambulance charities.”
“Without the support of the Civil Aviation Authority who mobilised a senior team and worked at speed this transaction could not have happened and we wish to extend our gratitude to them, as well as to the company’s senior management team."
Sheridan added: “The goal from the outset of our involvement was to ensure that the vital air ambulance operations continued without disruption, which they did. We take great satisfaction in ensuring that lives continued to be saved throughout the process and wish Gama and its newly acquired operations, highly skilled operatives and pilots, every success in the future.”
Discover how acquisitions made during economic downturns can generate huge value
This established business is a leading provider of customised boiler analysis systems, boasting strong, long-term relationships with prestigious clients in the power, refinery, and defence sectors. With a talented team and a solid presence in interna...
This business offers a strategic position as a UK agent for a renowned recycling machinery manufacturer, serving a robust client base that includes international blue-chip organisations. With opportunities for expansion into new sectors and a fully r...
The company is a multi-award-winning brokerage, supplying new vans to businesses across the UK. In addition, the company offers independent motor finance and car leasing, which focuses on leasing brand new cars from all manufacturers to businesses an...
14
|
Jul
|
PE-backed Compleat group acquires egg products firm | BUSINESS SALE
The Compleat Food Group, a food manufacturing group backed b...
14
|
Jul
|
Online firm acquires assets of skateboard retailer from administrators | BUSINESS SALE
SkatePro, a Danish-headquartered online specialist retailer,...
14
|
Jul
|
Concrete admixture manufacturer moves for waterproofing specialist | BUSINESS SALE
A concrete admixture manufacturer has enhanced its product r...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.