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Investindustrial lands Spanish helicopter business

The Southern European buyout firm has taken a majority stake in Spain’s INAER.

Investindustrial, the Southern European mid-market buyout firm, has acquired 75 percent of Spanish on-shore helicopter company, INAER Inversiones Aéreas.

According to Investindustrial, the total value of the transaction was €205 million ($247 million). The firm was not immediately available for comment.

Following completion of the transaction, Investindustrial will own 75 percent of INAER, the management team will continue as shareholders with 15 percent of the company, and Spanish rail and logistics business Transfesa will hold the remaining 10 percent.

Andrea Bonomi, chairman of Investindustrial said in a statement: “We have been studying the sector in which INAER operates for the last five years and we believe the company has the potential to be actively involved in the consolidation of this sector at a European level.”

INAER has operated in the air transport and related services sector in Southern Europe for the last 25 years, providing aircraft for heli-ambulance services, search and rescue, civil protection, marine inspections, monitoring road traffic and assistance for offshore oil and gas drilling platforms.

In 2005, INAER reported revenues of approximately €120 million. The company is based mainly in Spain through two subsidiaries – Helisureste and Helsica – and has small operations in Italy and Portugal.

Investindustrial’s recent transactions in Spain include the acquisitions of urban waste container manufacturer Contenur and publishing group Recoletos, as well as the divestment of Logic Control, a business software company.