Travers Smith LLP has advised long-standing client Ancala Partners LLP (Ancala), the critical mid-market infrastructure investor, on the €136.2 million acquisition of aerial emergency services businesses from Babcock International Group plc (Babcock) in Italy, Spain, Portugal, Norway, Sweden and Finland.
Following the acquisition, the business has been renamed Avincis. Avincis provides emergency medical, firefighting and search and rescue aviation services, typically under availability-based contracts with local and national governments. It operates a fleet of over 220 aircraft, of which approximately half are owned, across over 160 operating locations.
Ancala is an experienced investor in critical mid-market infrastructure. Founded in 2010 as an independent investment manager, Ancala adopts a unique approach combining differentiated investment sourcing with active asset management.
Travers Smith Head of Corporate, Spencer Summerfield, commented: "We are delighted to have assisted Ancala with yet another acquisition, strengthening its position in the European infrastructure market and further demonstrating our strong sectoral expertise in infrastructure investments. Carve-out transactions are particularly complex for a number of reasons, and this transaction again highlights our expertise in this area."
The Travers Smith team was led by Partner and Head of Corporate Spencer Summerfield, who was supported by Corporate Partner Hugh Hutchison, Senior Associate Fabian McNeilly and Associate Holly McKinley.
Finance advice was provided by Partner Ben Thompson, Senior Counsel Fiona Swords, Senior Associates Kanwal Majeed and Katie Henderson, Associates Adam Schnider, Shehan Canagasingham and Storme Paul-Christian and Trainees Peter Eaton, George Kajwenge and Isabella Crossfield. Additional specialist advice was provided by Partner Richard Brown, Senior Associate Richard Offord and Associate Emma Riggs in Technology & Commercial Transactions, Partner Nigel Seay and Associates Thomas Davies and Chloe Budd in Competition, Partner Simon Skinner, Senior Associate Silvana Van der Velde and Associate Callum Burgess in Tax, and Partner Adam Orr, Senior Associate Rachel MacArthur and Associate Heidi Jempeji in Private Equity & Financial Sponsors.
Overseas advice was provided by Cuatrecasas (Spain, Portugal and Mozambique), Chiomenti (Italy), Krogerus (Finland), Thommessen (Norway) and Delphi (Sweden).