Babcock buys Avincis

  • Business & Finance

Babcock International Group PLC, UK’s engineering support services organisation, has completed the acquisition of Avincis Mission Critical Services Topco Limited (“Avincis”).

Avincis

Avincis is a provider of helicopter and fixed wing services in mission critical operations such as medical, search and rescue, fire-fighting and civil protection in Europe and a leading supplier of critical offshore crew-change helicopter services to the oil and gas industry in the UK sector of the North Sea, with a clear ambition to expand its operations in the growing Norwegian and Australian offshore oil and gas markets.

As stated at the time of announcement of the acquisition, the Babcock Board thinks that the acquisition will create a strong platform for future growth and enhance value for shareholders, employees and customers.

Peter Rogers, Chief Executive of Babcock, said: “The acquisition of Avincis meets Babcock’s strategic objectives as it brings into the Babcock Group a market-leading business, delivering mission critical services and complex engineering support to blue-chip customers in multiple geographies. Avincis already has a strong growth platform and its combination with Babcock will generate even greater expansion opportunities and value creation for Babcock’s shareholders.”

[mappress]
Press Release, May 16, 2014
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