Bahrain Mumtalakat Holding Company (Mumtalakat), the kingdom's sovereign wealth fund, has acquired a significant minority stake in Axtmann Aviation Holding that operates FAI Aviation Group (FAI), a leading global provider of mission-critical aviation services based in Germany.

FAI offers fixed-wing air ambulance, special missions, charter and aircraft management, as well as full MRO (maintenance, repair and overhaul) services.  

Founded in 1986, FAI operates from its base in Albrecht Dürer International airport in Nuremberg, Germany. With over 30 years of experience in business aviation, it is one of the largest general aviation operators in Europe.

Commenting on the strategic investment, Mahmood H. Alkooheji, the chief executive of Mumtalakat, said: "It has perhaps never been as important as it is today to support rapid aviation response to crisis situations. Over the last 30 years, FAI has significantly grown its capabilities and service offerings, establishing stable and lasting relationships across a diverse set of customers, helping critical aid services reach people across the world."

This investment is aligned with Mumtalakat's objective to invest in companies with strong track records of growth and experienced management teams.

With a mandate to grow the wealth of Bahrain through long-term investments based on sound financial, strategic and governance principles, Mumtalakat holds stakes in over 40 commercial enterprises with a portfolio spanning a variety of sectors, including industrial manufacturing, financial services, telecommunications, real estate, logistics, consumer products and education.

"Aviation is a key component of our portfolio and we aim to leverage our sector knowledge and expertise to add value to the company and support its potential expansion into the wider GCC region," observed Kooheji.

FAI’s chairman Siegfried Axtmann said: "We are pleased that our specialised expertise in aviation services is globally recognized and delighted about the opportunity to co-operate with a powerful partner such as Mumtalakat."

"Together we will expand FAI as the leading player in the sector and increase our share in the General Aviation Market in the Middle East, adding value to the corporate and humanitarian sectors alike. Safety, efficient delivery and environmental protection are at the heart of our business," remarked Axtmann.

A market leader in intercontinental air ambulance patient transport, FAI offers continuous worldwide air ambulance services staffed with qualified medical personnel and state of the art medical technology, he stated.

Its aircraft fly more than 13,000 flight hours annually and its clientele include the world´s leading insurance- and assistance companies, NGO´s and prominent health authorities in the wider GCC region, he added.

Jefferies International Limited acted as sell-side advisor on the transaction. However, it is still subject to the approval by Cypriot and German Merger Control Authorities.-TradeArabia News Service