LDC backs secondary buy-out of Airline Services

Investment values business at over £30m


Airline Services, a Manchester-based aviation repair firm with a turnover of £60m, has been backed by LDC, the private equity arm of Lloyds Banking Group, in a secondary management buy-out (MBO).

Chief executive Bryan Bodek said LDC’s ‘significant investment’, which values the business at more than £30m,will enable the business to pursue its “ambitious growth plans”.

Under the terms of the agreement, LDC’s investment directors Steve Aston and Jon Pickering will join the board of Airline Services with immediate effect.

With a client roster that includes more than 100 airlines and aviation businesses, Airline Services will now seek to grow its business via a series of bolt-on acquisitions, which will position the company to secure new domestic and overseas customers.

Bodek, who has been chief executive of Airline Services since 2000 and led the management buy-out in 2006, when he took over from founder Alan Sixsmith, said: “LDC’s investment and support brings additional strategic input and financial backing to our business, and will help us to deliver our ambitious growth plans.”

Aston added: “Airline Services is a market leading business with an impressive and unique service proposition. Its integrated ‘turnaround’ services model is increasingly being adopted by scheduled airlines as well as those operating a low-cost model.”  

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