Livingstone advises on the sale of IBA, one of the world’s leading aviation consultancies, to private equity group Hockley Investments.
Established in 1988, IBA provides expert commercial analysis, technical advice and data to clients operating across the aviation industry including aircraft financiers and banks, investors, leasing companies, aircraft/engine manufacturers, airline operators and maintenance providers.
With over 25 years of experience and industry data, IBA has an unparalleled understanding of aviation market dynamics and has worked across the commercial and corporate aircraft sectors in the mature and emerging markets.
Laurie Hatcher, the majority shareholder, has sold his entire stake in IBA to Hockley while CEO Phil Seymour retains a minority shareholding and will continue to lead the business. Hockley is a long term investor and plans to support the management team deliver growth both organically and via acquisition.
Laurie Hatcher commented: “The Livingstone team were always on hand to offer advice as to how best to proceed at each stage of the process and with their guidance we were able to achieve a great result for all parties involved.”
Phil Seymour added: “This is the start of a new and exciting era for IBA and I am looking forward to working with Hockley with the joint objective of continued growth and prosperity for the business. Livingstone has impressed us at every stage of this transaction – from unlocking the initial conversation to closing – they gave us sound objective advice and were totally committed to the transaction.”
Hockley commented: “IBA presented a unique investment opportunity for us to partner with an experienced management team in a sector that has and will continue to experience significant growth. We have every confidence in Phil and his team and are looking forward to working with them on this exciting venture.”
Patrick Groarke, Partner at Livingstone London, concluded: “We are delighted to have worked with the shareholders of IBA over a period of exciting growth in the business and believe that Hockley are the perfect partner for Phil and his team to continue to develop the business as a world leader in the aviation consultancy sector”
The IBA transaction follows quickly on from Livingstone’s sale of the rail transportation consultancy and safety assurance division of Lloyd’s Register to Ricardo plc for £42.5m.
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- “This is the start of a new and exciting era for IBA and I am looking forward to working with Hockley with the joint objective of continued growth and prosperity for the business. Livingstone has impressed us at every stage of this transaction – from unlocking the initial conversation to closing – they gave us sound objective advice and were totally committed to the transaction.”Phil Seymour, CEO, IBA Group