Private equity firm Arle Capital Partners (Arle) has agreed to sell Fokker Technologies BV (Fokker) to GKN plc (GKN) for an enterprise value of EUR706 million.
Fokker specialises in the design, development and production of lightweight aero structures, electrical wiring interconnection systems and landing gear. It also provides maintenance, modification and logistics services to aircraft owners and operators.
Fokker is a specialist Tier 1 supplier to the commercial, military and business jet markets. With almost 5,000 employees, Fokker is headquartered in the Netherlands and has operations in Europe, North America and Asia. In the year ended 31 December 2014, Fokker generated revenues of EUR758 million.
John Arney (pictured), Managing Partner of Arle, says: “Today’s announcement marks a pivotal moment in Fokker’s history. Everyone is delighted with the outcome. The sale to GKN delivers a full exit for investors at a value significantly above that prevailing when Arle took over management of the Candover Funds.
“Importantly the sale will enable Fokker, under the stable and long-term ownership of its new parent, to continue the positive growth trajectory it has enjoyed over the last three years.
“On behalf of the Arle team, we wish the management and staff of Fokker and GKN well as they embark on the next phase of their exciting journey together.”
Completion of the acquisition is expected to take place in the fourth quarter of 2015 following completion of the information and consultation procedures with the Fokker Works Council and trade unions, ITAR and CFIUS regulatory clearances and anti-trust clearance in the EU and the US.
