The U.K.-based broker of jet cards and on-demand charter has acquired Redline Assured Security for $13 million
Air Partner plc, the global aviation services group, announced that it has acquired the entire issued share capital of Redline Worldwide Limited, trading as Redline Assured Security, a global aviation security solutions and training company
Air Partner paying is up to $13 million on a debt-free, cash-free basis, with an initial consideration of $10.5 million payable on completion and additional consideration of up to $2.5 million payable over two years post-completion.
The acquisition is expected to be earnings enhancing in its first full year of ownership. The deal is being funded from Air Partner’s existing cash and debt facilities and the issue of new ordinary shares to the operational management shareholders of Redline.
About Redline and the deal
- Redline is a world leader in its field, with proprietary software and e-Learning capabilities, offering significant growth opportunities and furthering the Group’s relationships with airports, airlines, governments, and corporates around the world
- Redline is the UK’s only International Civil Aviation Organization (“ICAO”) Aviation Security Training Centre
- Air Partner’s Consulting & Training division, now re-named Air Partner Safety & Security, adds capabilities, customers and geographies
- The acquisition materially increases visible, long term recurring revenues, in line with Air Partner’s stated strategy
- The acquisition is expected to be earnings enhancing in the first full year of ownership
What does Redline do?
Established in 2006, Redline is a leader in the delivery of government-standard security training and solutions to international airports, airlines and aviation sector related companies, critical national infrastructure, stadia and event managers, and corporates. The products and services provided include:
- Training: academy and e-Learning
- Quality Assurance: covert and overt testing, and audits
- Compliance Management: embedded Security Management Systems (SeMS) and security health monitoring software
- Security Consulting: design and development of security systems, processes, and protocols
How Redline fits into Air Partner
The acquisition further progresses Air Partner’s strategy of pursuing targeted acquisitions that enhance its customer offer by extending the suite of aviation services within its Consulting & Training division, which will now be called Air Partner Safety & Security.
The acquisition of Redline will transform this newly formed division, adding new capabilities, customers, geographies and management bandwidth, while unifying the Safety & Security functions.