Air Partner acquires leading global aviation security solutions and training company

Air Partner plc, the global aviation services group, is pleased to announce that it has acquired the entire issued share capital of Redline Worldwide Limited, trading as Redline Assured Security (together "Redline"), a leading global aviation security solutions and training company.

The total consideration payable by Air Partner is up to £10.0 million, on a debt free, cash free basis, with an initial consideration of £8.0 million payable on completion and additional consideration of up to £2.0 million payable over two years post completion. The acquisition is expected to be earnings enhancing in its first full year of ownership. The consideration is being funded from the Company's existing cash and debt facilities and the issue of new ordinary shares to the operational management shareholders of Redline.

  • Redline is a world leader in its field, with proprietary software and e-Learning capabilities, offering significant growth opportunities and furthering the Group's relationships with airports, airlines, governments and corporates around the world
  • Redline is the UK’s only International Civil Aviation Organisation ("ICAO") Aviation Security Training Centre
  • Transformative acquisition for Air Partner’s Consulting & Training division, now re-named Air Partner Safety & Security, that adds capabilities, customers and geographies
  • Materially increases visible, long term recurring revenues, in line with the Group’s stated strategy
  • Acquisition is expected to be earnings enhancing in first full year of ownership