CIG Completes sale of Navtech to Airbus
Transaction culminates successful 10-year investment by CIG and shareholders
09 Mar, 2016, 04:30 ET
NEW YORK, March 9, 2016 /PRNewswire/ -- Cambridge Information Group (CIG) along with its partners Externalis S.A. and VSS announced the sale of Navtech, a global provider of flight operations solutions, to Airbus. The acquisition will enrich Airbus' expansive product development program and enable greater growth for Navtech. The transaction marks a successful ten year investment for CIG and other Navtech shareholders.
With operations in Canada and the United Kingdom, Navtech serves more than 400 aircraft operators and aviation services customers worldwide. Its product suite includes electronic flight bag (EFB) solutions, aeronautical charts, navigation data solutions, flight planning, aircraft performance, crew planning, and performance based navigation solutions and services.
"Navtech is a uniquely innovative company with remarkable products created by remarkable people," said Andrew Snyder, Chairman of Navtech and CEO of CIG. "We are very proud of the investments we made in Navtech over the past ten years to build the business for long-term success."
Alain Mallart, Chairman of Externalis S.A., a shareholder of Navtech, added "Over the years, Navtech has established a strong position in the aeronautical marketplace. Joining Airbus will facilitate its further growth while enhancing Airbus services."
"VSS was pleased to help Navtech refinance the business in 2013, expand its subscription-based electronic product offering, and complete the acquisition of DWI," said David Bainbridge, Partner, VSS Structured Capital Fund. "Airbus is the right acquirer at the right time for this growth-oriented business."
Evercore acted as financial advisor to Cambridge Information Group.
Externalis (now EnerFinance) is a Belgian holding company, part of Energipole Group (www.energipole-group.com) owned by Alain Mallart. Energipole Group is engaged in real estate, environmental activities such as renewable energies and waste management, industrial ventures such as specialized steels and mining, and venture capital undertakings. The company's website is www.energipole-group.com
VSS is a leading private investment firm that invests in the tech-enabled business services, healthcare IT, information, and education industries in North America and Europe. VSS through its Structured Capital funds provides capital for buyouts, recapitalizations, growth financing and strategic acquisitions to lower middle market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately-negotiated investments across the capital structure and has the ability to invest in situations requiring control or non-control equity, mezzanine securities and structured equity securities. The company's website is www.vss.com
About Cambridge Information Group (CIG)
Cambridge Information Group is a family owned global investment firm with a focus on information services, education and technology. CIG has been investing in and building companies for long-term success for over 40 years by reinvesting in the growth and development of existing portfolio companies as well as acquiring new businesses with sustainable growth and profitability. CIG's long-term investment perspective and commitment of personal time and resources differentiates it from traditional sources of private capital. Currently, the CIG family of companies employs more than 3,000 people in 34 countries. The company's website is www.cig.com.
SOURCE Cambridge Information Group
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