Menu
Civil Helicopters News

Babcock Sells Aerial Emergency Business

by Mia Yao
Babcock Sells Aerial Emergency Business

UK aerospace and defense company Babcock International Group, as part of its portfolio alignment program, has sold its aerial emergency business for US$145 million.

The businesses were sold for a cash consideration of about US$145 million (€136.2 million) before completion adjustments and transaction costs.

In February 2023, Babcock sold its civil training business to Inspirit Capital as the company tried to reduce debt and focus on its major markets.

“We’ve done what we said we’d do at the start of our turnaround: we’ve strengthened the balance sheet and reduced complexity. Around two-thirds of the Group is now focused on defense, and we are well positioned for future growth opportunities in our core markets,” said David Lockwood, CEO, Babcock.

Do you want to be one of the first to read stories like this? Our newsletter features all of the top stories of the week condensed into one easy-to-read email. It’s fast and free to sign up, so click here to sign up now.

Related Articles

INDUSTRY REPORTS

© Copyright Asian Sky Group -2024 | All Rights Reserved

Create an account Login