BaltCap, a private equity and venture capital investor in the Baltic States, has acquired 100 per cent of Air Maintenance Estonia, an aircraft maintenance, repair and overhaul company, from Scandinavian Airlines.
Air Maintenance Estonia started its operations in 1995, providing maintenance services to Estonian Air aircrafts. Since 2002 the company is operating independently.
The clients of Air Maintenance Estonia are different European aviation companies, including Estonia’s national carrier Estonian Air. In 2009, the company’s turnover was EEK196m.
“BaltCap is excited to acquire a knowledge-based, export-oriented industrial company in Estonia with great outlook. AME has highly skilled and creative workforce – more than half of the 160 employees have higher education,” says Kristjan Kalda from BaltCap.
“BaltCap will support Air Maintenance Estonia’s expansion strategy. During next two years we intend to double the existing production capacity.”
“AME is a company with open culture and international staff. Our skilled workforce, the excellent and developing infrastructure of Lennart Meri Tallinn Airport, and the aviation engineering training provided by the Estonian Aviation Academy make us highly competitive on the international aircraft maintenance market,” adds Lars-Olof Bolinder, chief executive of Air Maintenance Estonia.
Bolinder will continue as chief executive of Air Maintenance Estonia.
