Private equity firm Ardian is acquiring a majority stake in Revima, an aircraft maintenance business, from private equity firm Argos Wityu.
Revima was founded in 1952 and provides maintenance, repair and overhaul (MRO) services for commercial transport aircraft equipment, with particular expertise in auxiliary power units, engine parts and landing gears for civil and military aircraft.
The company employs 750 people and had revenues of more than €280 million (£247 million) in 2018.
Following the transaction Revima's President and CEO Olivier Legrand and Argos Wityu will reinvest alongside Ardian.
Yann Bak, Managing Director at Ardian Buyout, said: "We are very pleased to be associated with the teams at Revima, a fast-growing company positioned in a very promising niche market. We will use our experience and network to expand the group's international presence and further accelerate its commercial development.”
Olivier Legrand, President and CEO of Revima, added: “Our priority is for Revima to become a global player, expanding its skills and know-how into new areas, and be closer to its customers.”