Clairvest's Discovery Air to sell fire services business to MAG
Canadian specialty aviation services provider Discovery Air Inc (TSX: DA.A) has agreed to sell its fire services business to MAG Aerospace Corp. The deal, which has a total consideration of about $15.38 million, is expected to close by November. Toronto-based Discovery said the sale will allow it to focus on the strategic growth of its core businesses and reduce debt. Discovery is majority-owned by Canadian private equity firm Clairvest Group. MAG, a Woodbridge, Virginia-based provider of outsourced specialty aviation and intelligence, surveillance and reconnaissance services, is also backed by Clairvest.
9 September 2016•7 mins read
