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March 28, 2014 by

27 Mar 14. DynCorp International targets UK expansion. DynCorp International (DI), a leading global services provider, has announced a major expansion into the UK. The Company operates globally, providing highly complex logistics, fleet management and through-life supply chain solutions. Based in London, DynCorp International (UK) has been established as a new company overseeing operations in Europe and Africa.
DynCorp International operates over 100 programmes worldwide, including the maintenance of the air wing that transports the political leaders of the United States. Additionally, at the peak of its Afghanistan commitment, DynCorp International had 19,000 people maintaining vehicles used by coalition forces; organising road and air movement of equipment; providing facilities on military bases; and training and mentoring Afghan military and government personnel. Wider global operations include aerial firefighting of wildfires and support to disaster and emergency relief. Announcing the move during a programme of launch events in London, the president of DI, Chris Bernhardt, set two priorities for the UK: “First, we already maintain some 200 types of aircraft and 80 types of military vehicles at more than 100 locations around the world, so we will focus on opportunities to use this experience in the UK. Secondly, we will capitalise on our long record of building and operating facilities both in home base areas and in hazardous locations overseas.”
Major General Ian Copeland, who left the British Army earlier this year, has been appointed as the Company’s first UK Managing Director. He is being supported by a newly recruited team with significant experience in UK Defence. DI’s plans were welcomed by Michael Fallon, the Minister for Business, when he opened the Company’s head office in Mayfair earlier this week, saying: “The UK Government is delighted that DynCorp International sees the business potential here in the UK and that you are bringing your investment to these shores.”

27 Mar 14. Babcock buys €2bn Avincis helicopter group as it broadens reach. Babcock International, the UK engineering group whose services include decommissioning Royal Navy submarines, has agreed to buy Avincis, a provider of search and rescue helicopters. The company, sold by private equity groups Investindustrial and KKR, is valued at about €2bn including debt, Babcock said in a statement on Thursday. Babcock and Avincis said in November they had entered exclusive talks. The transaction will broaden Babcock’s geographical scope and its range of products. The deal is subject to Babcock’s general meeting approval, scheduled next month.
Avincis, which operates in 10 countries, is one of the world’s largest providers of helicopters for emergency missions, surveillance work and support to facilities such as offshore oil and gas rigs. Babcock’s acquisition price represents about 14 times the company’s 2013 earnings before interest, tax, depreciation and amortisation of about €143m.
Investindustrial, the Italian-based investor that owns a stake in Aston Martin, invested €70m in 2005 to buy Avincis, then a helicopter operator based in Alicante, Spain. It added acquisitions in Italy, France, Australia, Scandinavia and the UK. KKR bought a 49.9 per cent stake from Investindustrial in 2010 in a deal that valued the company at about €700m including debt. Avincis later moved its headquarters to the UK as its owners considered a London initial public offering among exit options. Investindustrial is making more than six times its investment in the company, while KKR is more than doubling it, but the price is lower than what the private equity groups were expecting to achieve in an IPO, according to people with knowledge of the talks. (Source: FT.com)

27 Mar 14. Engineering contractor Babcock said on Thursday it had agreed to acquire helicopter transport services firm Avincis for £920m, funding the long-expected deal through a £1.1bn rights issue. Babc

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