Private equity firm Chequers Capital (“Chequers”) has signed a share purchase agreement with the owners of Nayak-LM GmbH and its subsidiaries (“Nayak” or “Nayak Group” or “Nayak Aircraft Services”), notably Munich based family office SFO. Chequers aims to support Nayak’s management team in the realisation of its organic and external growth ambitions. Nayak Aircraft Services is the leading independent European aircraft safety and line maintenance provider generating €120m in revenues with 1000+ people active across 50+ stations.

“We are really excited to welcome Chequers as our partner to further develop Nayak in the coming years”, says the CEO of Nayak, Marco Smit. “With SFO, we were able to acquire Airberlin Technik and expand our business to a leading position for line maintenance services in Europe. With Chequers, we are confident to have the right partner to further solidify our base and accelerate Nayak’s next phase of growth.” 

Uwe Gleitz, Managing Director at Chequers Capital, adds: “Sitting at the core of efficient operations in the highly regulated aviation sector, Nayak’s offering of aircraft safety and maintenance services is key for its broad set of international blue-chip customers. Nayak is in an excellent position to capture a multitude of growth opportunities thanks to its strong management team, the high quality of its technicians and a broad station network. We aim to put our experience and network in aviation services to use.”

Closing is subject to regulatory approval and expected to take place in Q1 2024.

Advisors to the Sellers: cf:M GmbH | corporate finance MITTELSTAND (M&A), Milbank (Legal), PWC (Financial).

Advisors to Chequers: Latham Watkins (Legal), Alvarez Marsal (Financial & IT), Oliver Wyman (Commercial), Clearwater (Debt), Seabury (M&A), KPMG (Tax), Sirsa (ESG), Howden (Insurance).

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