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LOS ANGELES, Jan. 28, 2019 (GLOBE NEWSWIRE) -- Levine Leichtman Capital Partners (“LLCP”) has acquired SK AeroSafety (the “Company”) from SK FireSafety, a portfolio company of Paris-based Apax Partners. The Company’s management team, headed by CEO Chris Wright, will invest alongside LLCP.
SK AeroSafety specializes in the inspection, testing, maintenance and repair of critical passenger safety equipment found on all commercial and private aircraft worldwide. Examples of equipment serviced by the Company include life vests, fire extinguishers, oxygen masks, oxygen cylinders, evacuation slides and life rafts. SK AeroSafety supports a diversified and global customer base of over 700 airlines, component service providers, maintenance and repair organizations (MRO) and OEMs, and has locations in The Netherlands, United Kingdom, United States, Malaysia and Dubai. The Company holds key certifications and accreditations from its OEMs, MROs, customers and key global aviation regulators, including the FAA and EASA.
Regarding the investment, Chris Wright commented, “We are very excited about this next step in the development of our Company. We look forward to continuing to grow the business both through further acquisitions as well as by expanding our service offering at our existing locations. We remain highly committed to supporting our customers and will continue to strive for excellence and sustainable growth through superior service, quality and commitment.”
Wright added, “We believe we have found an excellent partner in LLCP. We greatly value LLCP’s experience in the aerospace industry and its strong track record as a value-added partner. We believe LLCP’s global network and their local presence in our core markets (The Netherlands, United Kingdom and United States) will be a critical driver of our future growth."
According to Wouter Snoeijers, Managing Director of LLCP, “We are thrilled to partner with Chris Wright, Robert Sims, Ben te Beek and the SK team and look forward to working with them to achieve their mission. We are proud to invest in a Company that enables millions of passengers to fly safely every year and we look forward to supporting its continued growth and success.”
LLCP was advised by PwC and NautaDutilh.
For more information, visit https://www.llcp.com.
About Levine Leichtman Capital Partners
LLCP is a Los Angeles, California based private investment firm that has managed approximately $10.2 billion of institutional capital since its inception. LLCP invests in middle market companies located in the United States, the U.K. and Europe. LLCP is currently making new investments through Levine Leichtman Capital Partners VI, L.P., LLCP Lower Middle Market Fund, L.P., Levine Leichtman Capital Partners Europe, L.P., and Levine Leichtman Strategic Capital, LLC. LLCP has offices in Los Angeles, New York, Dallas, Chicago, Charlotte, London, Stockholm and The Hague.