Babcock sells Spanish, Italian, Nordic emergency aviation

[gipsymagpie]

Babcock news flash (http://www.babcockinternational.com/news/babcock-to-sell-part-of-its-aerial-emergency-services-business/)
The UK, French, Canadian and Australian emergency aviation bits are being kept.

[Variable Load]

Sold to a UK based "mid-market infrastructure investor", oh dear. Ironically when trying to view Ancala's website it simply times out.

[[email protected]]

Asset strippers - stand by for job losses.

[helihub]

And there's a little more here (https://helihub.com/2022/07/20/babcock-sell-some-onshore-operations-for-e136-2m/)

[Bolso]

David Lockwood has a history of this. Remember his time at Cobham was prepping for sale to Advent and its subsequent sell off of different parts of the business, and other companies before that. I wonder if that's the ultimate fate of Babcock, to be bought by a private equity firm of some description?

[[email protected]]

Yes, I worked for Cobham at the time - seems to be his MO.

[minigundiplomat]

That will improve Babcock’s TRIR immediately. The old INAER have a lot of prangs….

[Rigga]

Fairly cheap price! Is Babcock still desperate for money?

[N707ZS]

Hopefully they take all of the miserable bureaucrat's with them from the Spanish operation.

[zambonidriver]

Babcock are also selling their onshore interests. Employees were told yesterday that Ancala Partners was buying Babcock operations in Italy, Spain, Portugal, Norway, Sweden and Finland. The deal is priced at €136.2 million Excluded are operations in UK, France, Canada and Australia, where Babcock also operates defence businesses. The disposed businesses operate 232 aircraft across 164 locations in the six countrie.

232 aircrafts for €136 mn ? Either these operations are massive loss makers or the numbers don't add up.

[helihub]

232 aircrafts for €136 mn ? Either these operations are massive loss makers or the numbers don't add up.

The value of a company depends on so many things, including assets (eg aircraft), liabilities (eg the leases most of those 232 on are), future profitability (eg if they have good operational contracts or whether they all expire next year) and so on. You don't calculate the value of a company based only the resale value of the aircraft.

[zambonidriver]

You certainly have a point but this would imply that a huge part of the inventory is not actually owned (which is quite possible).

[OvertHawk]

You certainly have a point but this would imply that a huge part of the inventory is not actually owned (which is quite possible).

I'd say it is highly probable.