Gama Aviation confirms talks to acquire Specialist Aviation Services
Gama Aviation has confirmed talks to acquire UK-based Specialist Aviation Services in a statement to the London Stock Exchange today.
Specialist Aviation Services provides helicopter emergency medical services (HEMS) and aircraft repairs and maintenance (MRO) services. It also has contracts with UK air ambulance charities.
“The Board of Gama Aviation is aware of industry market speculation and confirms that it is in discussions to acquire the business of Specialist Aviation Services Limited (Specialist),” according to Gama’s statement. “The interest in Specialist is consistent with the Group’s strategy to grow its Special Mission business.”
Discussions between the two companies and other key stakeholders are said to be well advanced and are expected to be concluded within the next few weeks. But they remain subject to further negotiations, diligence, and Board approval, said Gama.
“Accordingly, there can be no certainty any transaction will be completed and, if it does, on what terms such a transaction might take place,” said the company. A further announcement will be made in due course, it added. Specialist Aviation Services generated revenue of about £24m in 2022.
Meanwhile, last month Gama Aviation made an early start on its contract to take over HEMS flights for the Wales Air Ambulance Charity. It was due to start the seven-year contract this month but took over operation of flights early to minimise disruption during the holidays.