Tue, 30 Aug 2011 | BUSINESS SALE
The sale of Aero Inventory has been scheduled to commence next month after its administrators KPMG turned the aircraft parts supplier around.
Aero Inventory (UK) Ltd entered administration in November 2009, after two senior executives were blamed for a misleading stock market valuation. The move also saw the end of several long-term sole-supply contracts to provide aircraft maintenance and repairs.
KPMG has injected tens of millions of pounds into the London-based business since then, and is now preparing to sell it. A price has not been revealed, but the sale is expected to bring in hundreds of millions of pounds.
KPMG anticipate plenty of interest in the business, which supplies airconditioning units and aeroplane engine parts to the likes of Ryanair, Qantas and easyJet, and operates in 130 countries.
It is considered likely that bids will come from private equity businesses, though trade buyers are also thought to be interested. Aero turned down a previous offer for £500 million from Bridgepoint in 2008.
Aero was investigated by the Serious Fraud office in 2010 following a series of complaints made. The Accountancy and Actuarial Discipline Board started an investigation in March into Deloitte’s involvement in managing Aero’s accounts and is still taking place.
This is a unique opportunity to acquire valuable intellectual property assets from a well-established wholesaler with many years of experience in the discount food and non-food sector in the Midlands.
This is an opportunity to acquire a long-established specialist bakery business, supplying major UK supermarkets and boasting a fully equipped production facility with a skilled workforce.
Discover the rare chance to acquire a specialist UK supplier of marine engines and generators, noted for their leadership in the used marine engine market and hard-to-find parts.
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.