Deal announcement

goetzpartners advised Borromin on its acquisition of a stake in AES

13. September 2022

goetzpartners advised Borromin on its acquisition of a stake in AES with a Commercial Due Diligence

goetzpartners advised Borromin Capital Fund IV ("Borromin”) with a Commercial Due Diligence on the acquisition of Aerotec Europe GmbH and its subsidiary Airplane Equipment & Services A.E.S. GmbH (together "AES" or "the Company"), a leading air freight container service company in Europe.

The Commercial Due Diligence included a comprehensive analysis of AES' business model and service portfolio, with a particular focus on the Company's deep embedment in the freight container and aircraft maintenance industry value chains, highlighting the mission-critical character of services offered. The analysis of the Company's base of blue-chip customers displayed the strength and stability of the Company's longstanding business relationships. With regards to the market environment, market size, growth, and key drivers were analysed with special consideration to crisis resilience and Covid-19 related price and volume mid- and long-term effects. In addition, the Company's competitive environment was evaluated, highlighting AES' unique positioning as independent air freight container service provider with unparalleled footprint in the DACH area and reputation to deliver fully certified services at superior quality and attractive price level without compromising on flexibility or speed. The Commercial Due Diligence concluded with a thorough assessment of AES' business plan in relation to expected market developments.

About AES
AES is a leading air freight container service company in the DACH region. The company’s service focus is on the repair and maintenance of aeroplane cargo containers. In addition, the company is certified to carry out structural maintenance services for regulated components inside and outside passenger aircraft. With more than 120 employees, the company serves leading global air cargo bluechip customers from five independently managed operating units at all of the major cargo airports in Germany.

About Borromin
Borromin is an independent private equity company focusing on medium-size businesses within German speaking Europe and Benelux countries. Funds initiated and advised by Borromin invest in mid-size companies providing equity for succession issues, management buy-outs and also provide capital for growth opportunities. Borromin was founded in 2001 and follows a successful, value-oriented strategy of investments in profitable companies in various sectors

Transaction Team

Dr. Gerrit Schütte
Managing Director

Andreas Haselbach
Senior Consultant

Maximilian Rudolph

Gabriel Berenstein

Richard Nowack
Associate Consultant

David Bedoian
Associate Consultant