German aviation services provider Air Alliance is up for sale with Cologne-based boutique Belgravia managing the process, according to two sources familiar with the situation.
The sell-side is guiding potential buyers off a EUR 8m--EUR 9m EBITDA this year, a sharp increase from around EUR 3m EBITDA in previous years, one of the sources said, adding that airline businesses are cyclical and their earnings fluctuate. "They have a very aggressive growth plan, difficult to forecast what they'll be doing in EBITDA terms," the other source noted.
The process is understood to have advanced with first-round bids already collected, the source said. Sponsors have been sounded out as potential bidders, the first source said.
Air Alliance was founded in 1993 and is owned by CEO Wolfgang Krombach, according to filings made on FirmenWissen. The company features a major portfolio of one-stop shopping for all its services: regular servicing, planning and designing interiors, avionic re-engineering, purchasing and selling new and used aircraft.
Belgravia declined to comment; Air Alliance did not respond to requests for comment.
by Maryna Irkliyenko and Joao Grando