Cobham has completed the acquisition of the 50 percent shareholding that it did not already own in FB Heliservices Ltd, FB Leasing Limited and FBS Limited (together ‘FBH’), from its long-standing joint venture partner, Bristow Helicopters. The transaction comprises cash consideration of £74 million payable on completion, together with the assumption of Bristow’s share of FBH’s net debt.
“FBH is a business we know extremely well through our long established joint venture arrangement and it has capabilities that are highly complementary to our existing Aviation Services business,” Bob Murphy, Cobham CEO says. “It also brings a long track record of operating in attractive, specialist outsourcing markets with demonstrable success in winning contracts across the globe.”