Cuatrecasas has advised the british investment fund Ancala Partners on the closing of the acquisition of Babcock’s emergency air services business, taking over its rescue and firefighting infrastructure divisions located in Spain, Portugal, Italy, Norway, Sweden and Finland.
The firm’s team advising Ancala Partners comprised partners Federico Roig (corporate M&A), Andrew Ward (competition) and Mª Carmen Arribillaga (finance), together with associates Carlota Tojo and Adrián Garcia Canal. The english law firm Travers Smith has been responsible for advising on all legal matters subject to english law in the transaction, while the sellers have acted under the legal direction of Ashurst.
The company has been renamed Avincis, with a portfolio of air services that includes medical transport, firefighting and search and rescue operations. Following the transaction, the british investor takes control of a fleet of more than 230 aircraft at more than 160 operational sites in strategic locations across Europe.
The purchase and sale of all the shares was formalized last february, bringing to an end a complex process that began in early 2022. This project reaffirms Ancala Partners’ ability to locate and implement well-differentiated and significant international investment opportunities. The transaction also ratifies Ancala’s plans to continue its expansion process and strengthen its position in the critical aviation services sector in Iberia, Italy and the Nordic countries.