Babcock sells Spanish, Italian, Nordic emergency aviation
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Babcock sells Spanish, Italian, Nordic emergency aviation
Babcock news flash
The UK, French, Canadian and Australian emergency aviation bits are being kept.
The UK, French, Canadian and Australian emergency aviation bits are being kept.
Asset strippers - stand by for job losses.
Join Date: Nov 2021
Location: England
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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?
Yes, I worked for Cobham at the time - seems to be his MO.
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.
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.