Signature Aviation acquired by GIP

Global Infrastructure Partners (GIP), owner of Edinburgh Airport and a shareholder of Gatwick Airport is to acquire fixed-base operation (FBO) Signature Aviation, a London Stock Exchange (LSE) listed company.

Sir Nigel Rudd, chairman, Signature, says: “Over recent years, the management of Signature has created a leading global private aviation support services business, whilst streamlining the group to maximise value for shareholders.

“We believe that the offer from GIP represents an attractive and certain value in cash today for Signature shareholders, reflecting the high quality of the business and its network, its people and its future prospects.”

Adebayo Ogunlesi, chairman and managing partner of GIP, adds: “Signature, like many businesses in the aviation sector, needs to address the challenges resulting from Covid, whilst market conditions and earnings are likely to remain subdued for some time.

Signature employs 5,300 people across 370 locations.

www.signatureaviation.com

www.global-infra.com

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