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Clifford Chance advises investor consortium on acquisition and recapitalisation of Ansett Aviation Training

10 May 2022

Clifford Chance advises investor consortium on acquisition and recapitalisation of Ansett Aviation Training

Leading international law firm Clifford Chance has advised a consortium comprising Bain Capital Credit, Arcadia Capital and affiliates of the leadership team of Bridger Aerospace Group on the consortium's acquisition and recapitalisation of Aviation Training Holdings Pty Ltd, the global operator of flight simulation training services provider Ansett Aviation Training (AAT).

The funds provided by the consortium were applied to acquire 100% of the shares in AAT and facilitated a recapitalisation of its balance sheet, including both a reduction of its existing debt levels and the investment of additional capital. That recapitalisation involved the repayment or amendment of six separate financing arrangements across Australia, Italy and Taiwan.

Lead partner Andrew Crook said, "We are very happy to have partnered with the investor consortium on this strategically important transaction for the aerospace sector, especially as international borders progressively reopen. The deal demonstrates the firm's market-leading expertise acting on complex, multi-jurisdictional financial transactions, and I look forward to AAT's next phase of growth."

In Australia, partners Mark Gillgren and Elizabeth Hundt Russell, counsel Cameron Reeves and senior associate Zoe Anderson acted as lead transactional counsel. London associate Tom Marr provided additional restructuring counsel from Clifford Chance London. In Milan, counsel Chiara Commis, senior associate Carolina Piovano, associate Francesco Napoli and in Dubai, associate Benedetta Tola advised on the Italian aspects of the deal.

AAT is a global provider of flight simulation training services, and simulator housing and maintenance services. It has facilities in Brisbane, Melbourne, Milan and Taiwan and is the largest independent provider of simulation services in Australia.