Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, has acquired a significant minority stake in Axtmann Aviation Holding GmbH (AAH), reports FAI Aviation Group (FAI). An AAH subsidiary, FAI provides mission-critical aviation services, fixed-wing air ambulance flights, special missions, charter and aircraft management, as well as full MRO services. Founded in 1986, FAI operates from a base at Albrecht Dürer International airport in Nuremberg, Germany.
Commenting on this latest investment by the sovereign wealth fund, Mahmood H. Alkooheji, Mumtalakat CEO, said: “It has perhaps never been as important as it is today to support rapid aviation response to crisis situations. Over the last 30 years, FAI has significantly grown its capabilities and service offerings, establishing stable and lasting relationships across a diverse set of customers, helping critical aid services reach people across the world.”
Further explaining Mumtalakat’s interest, he noted: “This investment is aligned with our objective to invest in companies with strong track records of growth and experienced management teams. Aviation is a key component of our portfolio and we aim to leverage our sector knowledge and expertise to add value to the company and support its potential expansion into the wider GCC region.”
FAI’s chairman, Siegfried Axtmann, added: “We are pleased that our specialised expertise in aviation services is globally recognised and delighted about the opportunity to co-operate with a powerful partner such as Mumtalakat. Together, we will expand FAI as the leading player in the sector and increase our share in the general aviation market in the Middle East, adding value to the corporate and humanitarian sectors alike.”
Jefferies International Limited acted as sell-side advisor on the transaction. As of 4 May, the transaction is subject to the approval of the Cypriot and German Merger Control Authorities, said FAI.