Elais Capital invests in Sunaero
Sep 14, 2016
Wed, 14/09/2016 - 13:35
Private equity firm Elaïs Capital has completed its third deal with a significant minority equity investment in Sunaero, a provider of testing and repair solutions for aircraft. A dedicated private equity fund managed by Elaïs Capital on behalf of 15 families is now the main shareholder of Sunaero, alongside its founders Bruno Comoglio, Laurent Dumortier and Thierry Regond. As a result of this transaction, Sunaero has secured an additional equity line to finance its growth (including acquisitions), and several senior managers will become shareholders of the group. The group arises from the 2005 merger of Helitest, a provider of trace gas leak testing technology for aircrafts founded in 1992 by Dumortier, and Sunaero, a provider of fast sealant polymerisation technology founded in 1996 by Comoglio. Prior to the merger, in 2001 the two companies had already created Aerowing, a joint US distribution company based in Nashville, TN. In 2008, Aerowing opened its own R&D centre and set up a production site to better serve the US market. In 2013, the group opened a distribution subsidiary and a fuel leak and composite repair facility in Malaysia, near Singapore. In 2016, Sunaero Asia received a DCAM PART 145 certificate. The group is now established in 30 countries with three subsidiaries and 27 agents backed up by an international team of engineers and sales reps.
Sunaero’s product and service range offers downtime reductions and financial savings in AOG (Aircraft on Ground) situations as well as in scheduled maintenance. With its global reach, Sunaero will serve a world fleet of 90.000 commercial aircrafts, business jets and civil helicopters, alongside 72.000 military jets. Following the Elaïs investment, the group will accelerate its development through organic growth and acquisitions in America as well as in Asia and Europe. In Asia, the group is planning to strengthen its position in China and to establish a foothold in Australia. Comoglio says: “We are delighted to welcome Elaïs as a financial partner who will help us to execute efficiently our ambitious development plan globally. They clearly have made a difference in the way they understand the opportunities and challenges of a fast growth midmarket company such as Sunaero.”
Thibaut de Chassey, managing partner of Elaïs Capital, adds: “The group founded by Bruno Comoglio, Laurent Dumortier and Thierry Regond fits perfectly with our strategy of investing in growing private French midmarket companies. Sunaero is the global leader in its market, with innovative technologies and exceptional growth prospects. We are delighted to support this group which benefits from such a strong recognition in its industry.”