Simaero Holding, today (July 26, 2018) confirmed that Rive Private Investment subscribed to a capital increase giving it the majority control over the company, alongside founders Eric Renault and Jean-Marc Petit, who remain significant shareholders, and management, who also subscribed to the capital increase.
Further to the equity capital increase, Rive subscribed to a bond issuance to contribute to the financing of the company.
Simaero is one of the largest independent provider of commercial pilot training services worldwide, with its main locations in Paris and Johannesburg. With this transaction, the company has the financing capacity to successfully capture growth opportunities both in its current locations as well as in new locations targeted, in particular in the Middle East and Asia, where the company already has an active commercial presence. Acquisition strengthens Simaero balance sheet and enables it to address growth opportunities
Chief executive officer Nicolas Mouté said: “We are delighted to confirm the closing of the transaction. With its financing capacity and its industry knowledge, Rive is an ideal partner to support the growth of the company and reinforces our ambition of becoming a global market leader.”
Rive Partner Barthelemy Renaudin added: “This investment is a perfect fit for us as we look for opportunities to invest in asset intensive yet added-value businesses. We have already supported companies in the helicopter leasing and aircraft motor rental businesses. This further expands our exposure to the growing global aviation industry.”
Chairman and founder Eric Renaud further added: “After a successful 16 year period since its creation, Simaero needed the backing of a solid financial partner to write the next chapter in the life of the company. We look forward to this new phase alongside Rive Private Investment.”
Simaero was created in 2002 by founders Eric Renault (Chairman) and Jean-Marc Petit (Technical Director). It now operates 18 professional full flight simulators primarily located in the company centers in Roissy en France (France) and Johannesburg (South Africa). The company further operates simulators in several additional locations including Dinard (France), Istres (France) and Sharjah (UAE). It serves over 100 civil and military clients worldwide.