Posted on: 05 May 2016 by Mark Howells
AIM Altitude has become a wholly-owned subsidiary of AVIC International Holding Corporation (AVIC).
Mark Edwards, CEO of AIM Altitude, stated, “We are delighted that the sale has officially been completed. We now look forward to combining AVIC’s strengths as a major strategic aerospace business alongside our own expertise in design, engineering and manufacture, to deliver further growth for AIM Altitude.”
“We are thrilled to welcome the AIM Altitude team into the group,” commented Xu Tongyu, AVIC International’s vice-president. “AVIC International is a leading diverse multinational corporation covering the whole aviation industry and value chain and AIM Altitude’s expertise in cabin interiors will further extend our core capabilities and international competitiveness.”
AIM Altitude will continue to operate to support its existing and new airline customers in the Middle East, Europe and the Americas, as well as in China and Asia Pacific.
Rothschild acted as financial adviser to the company and the selling shareholders alongside Kirkland & Ellis International LLP as TowerBrook’s legal adviser and Hogan Lovells International LLP as the management team’s legal adviser. WilmerHale and Macfarlanes LLP acted as legal advisers to AVIC.