3i in aviation deal

3i is acquiring Aviapartner, an independent ground handler headquartered in Brussels, Belgium. People familiar with the situation said the total value of the transaction amounted to approximately €160m.

3i has introduced Theo Dilissen as CEO. He previously held senior positions at facility management company ISS, and Real Software, an ICT service company. Dilissen is also chairman of Belgacom. Alex Verougstraete is retiring as CEO and will become a non-executive director.

3i has experience in the aviation sector. In June 2001, it acquired low cost airline Go Fly from British Airways. It sold that to easyJet in a €560m deal, representing a 2.7x return.

3i has also put Environmental Resources Management (ERM) up for sale for nearly US$500m. 3i has reportedly received indicative offers from private equity firms such as Bridgepoint, ABN AMRO Capital, Electra Partners, Exponent and Cinven.