Three companies have made it into the final round to buy Hawker Pacific, the largest independent Asian business aviation company. Founded 40 years ago, Hawker Pacific maintains, sells and manages aircraft as well as operating FBOs across Asia.
The final bidders include existing business aviation companies and one private-equity investor.
“This is possibly the last chance for someone to buy a significant Asian business aviation business,” says one person close to the process. “As well as Australia, Hawker Pacific is the only independent maintenance company in Shanghai or Seletar.”
US Private equity firm Briton Hill Partners owns 66% of Hawker Pacific with SEACOR, the NYSE listed shipping company, holding the rest. HNA Group, the Chinese airline conglomerate, is the largest investor in Britton Hill.
Jefferies, the leading business aviation investment bank, is managing the sale.
SEACOR paid $25 million for its stake in 2010. Britton Hill paid an undisclosed amount in 2014.
“We looked at the deal in 2010 and all I can say is that SEACOR will get a good return on its investment,” says one bidder.
ABACE, the leading Asian business aviation convention, is held at Hawker Pacific’s joint venture facility at Hongqiao International Airport in Shanghai.
SEACOR is also an investor in aircraft broker and consulting company Asian Sky Group.
Picture: Hawker Pacific paintshop at Seletar Aerospace Park in Singapore