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PAI Partners to acquire a majority stake in Alvest

Private equity firm PAI Partners is in exclusive negotiations to acquire a significant stake in Alvest, a global leader in the production, distribution, and services of airport Ground Support Equipment (GSE).

Upon completion of the transaction, PAI will become the largest shareholder in Alvest alongside a co-investor, with Ardian retaining a minority stake alongside the company’s founders and management team.

Since its founding in 2001, Alvest has grown to be a key player in the GSE market, providing products and services for the aviation industry. Alvest’s portfolio is tailored to meet the specific needs of airlines, airports, and ground-handling companies, with a focus on improving efficiency, safety, and sustainability within aviation operations. This includes the design, manufacturing, and distribution of airport GSE, the distribution of spare parts and accessories, maintenance and associated services activities, as well as the deployment of decarbonisation and automation solutions for aviation on the ground.

Headquartered in France, Alvest has more than 3,500 employees worldwide, a global proprietary sales and after-sales network, and 10 industrial factories in the US, Canada, France, Belgium, UK, India, and China, which together serve customers in over 167 countries and provide associated services in more than 250 airports.

According to a press statement, PAI’s investment will “support Alvest’s next phase of expansion and innovation, leveraging the firm’s deep expertise in the General Industrials sector”. The partnership will focus on enabling Alvest to accelerate the transition to electric GSE and continue to grow the product and service offering, including enhancing resilient servicing activities, fleet management systems, and maintenance services.

The transaction is expected to close during the summer, subject to customary regulatory approvals.

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