Air Partner acquires Kenyon for $11.7m
Aviation services group, Air Partner has acquired Kenyon International Emergency Services from PT Lobos, in a further widening of its service offering.
The total amount to be paid by Air Partner is up to $11.7m (£8.52m), on a debt free, cash free basis, with an initial consideration of $10.3m (£7.5m). The acquisition is being funded from the Air Partner’s existing cash and debt facilities. Post transaction, the group has net cash of £8.3m ($11.39m), excluding JetCard cash, and access to a debt facility of £9.5m ($13.04m).
Mark Briffa, CEO of Air Partner plc, said: “Kenyon International Emergency Services is an exceptional business and a true leader in the field of emergency planning and incident response. With unparalleled levels of experience built up over 115 years, Kenyon is trusted by a wide range of customers across the globe, including governments and blue-chip corporates, to deliver world-class specialised support.
Air Partner said the acquisition is expected to be earnings enhancing in first full year of ownership. Kenyon adds new capabilities with incident management services and post incident response. The acquisition also significantly builds on Air Partner’s charter division’s activities in emergency planning and air evacuation, said the firm.
Established as Kenyon Emergency Services in 1906, Kenyon has built a reputation as a leading provider of specialised support during and post emergency incidents. The company has responded to more than 350 incidents worldwide, working for and with local and national governments, regulatory bodies, emergency services, blue-chip corporates and other parties. Incidents have been varied in nature and have included human error, humanitarian relief, acts of terrorism, pandemics and climate-related extreme events.
With over 600 customers (including 400 aviation customers) using Kenyon’s services every year, Air Partner will be able to extend its reach in sectors, as well as grow into new segments.
Recent deployments have included an Air India Express accident in Kerala, India; Covid-19 related services for local authorities in the West Midlands and Essex, UK, and New York City, USA; crisis communications support for a client in the aftermath of a terrorist attack in Palma, Mozambique; and the completion of a three year deployment recovering personal effects from Grenfell Tower, London, the site of a tower block fire.
Robert A. Jensen, Kenyon chairman, who has been with the firm since 1998 and majority shareholder for over 15 years, will remain with the business until the end of 2021. Then, Jensen will move to an advisory role as chairman emeritus. Conor Prendergast, managing director of Kenyon, will then take over the day-to-day running of Kenyon and will report directly to Air Partner CEO Mark Briffa.
Jensen said: “By joining with the Air Partner Group, together we are again expanding the definition of emergency planning and incident response to meet the evolving needs of business and governments in a fast-changing global environment.
“This transaction brings together the extensive real-world experience and resources of two complementary organisations, creating a powerful group that will allow its customers to further consolidate their incident planning, training and response operations into a more integrated system. This system will ultimately benefit those who we have always seen as the ultimate customer – the companies, survivors, and families involved in these emergencies.”
Blackdown Partners acted as Financial Adviser to PT Lobos.