Premier Aviation to acquire repair facility of Clairvest-backed Discovery Air
Premier Aviation Overhaul Centre Inc has agreed to acquire Discovery Air Technical Services, a subsidiary of Discovery Air Inc (TSX: DA.A). No financial terms were released. Premier Aviation, a Trois-Rivières, Québec-based airframe maintenance, repair and overhaul company, said the acquisition will increase its capacity in the regional aircraft market and enhance its growth opportunities. The deal is expected to wrap up by the end of August. Discovery Air, a specialty aviation company, is a portfolio investment of Canadian private equity firm Clairvest Group. Last month, Clairvest agreed to increase its stake in the business to as much as 82.7 percent of issued and outstanding common shares.
22 June 2015•4 mins read
