Clairvest-backed Discovery Air to buy airborne training services company ATSI
Specialty aviation company Discovery Air Inc (TSX: DA) has agreed to purchase for an undisclosed sum Advanced Training Systems International Inc (ATSI), a U.S airborne training services company based in Mesa, Arizona. The acquisition, which the company said will take advantage of growth potential in the airborne training services market, will be made by its subsidiary business Discovery Air Defence Services Inc. The deal is expected to close within the next 30 days, with ATSI's majority shareholder having already agreed to vote in favour. The Etobicoke, Ontario-based Discovery Air is a portfolio company of Canadian mid-market private equity firm Clairvest Group. Clairvest made a $70 million investment in the company in 2011.
6 December 2013•3 mins read
