Finland's Patria Group plans to expand its capabilities and international footprint by acquiring Netherlands-based Nedaero, which manufactures, repairs, and distributes aircraft parts, Patria announced on 10 March.
For Nedaero, which has doubled its revenue during the past five years, becoming part of a larger company like Patria will provide “significant chances to further accelerate” its growth, Nedaero CEO and president Ruud Kleinendorst said.
Patria will acquire Nedaero from Kleinendorst and his co-owner for an undisclosed sum. Nedaero, which has about 35 employees, will be renamed Patria Netherlands when the transaction closes on 1 April.
While Patria Netherlands will initially operate as an “as-is” subsidiary, its sales and production activity will ultimately be integrated into Patria's Global Division and Operations unit, respectively, said Jukka Holkeri, executive vice-president of the Global Division.
Nedaero supports both military and civil aircraft. The military platforms include the F-35 Lightning II and F-16 Fighting Falcon fighter jets, C-130 Hercules transport plane, and NH90 and Super Puma/Puma/Cougar helicopters.
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