Eyrir Invest, Arle and its co-investors have agreed to sell Fokker Technologies to the British engineering conglomerate GKN plc for an enterprise value of €706 million.
Fokker is a specialist Tier 1 supplier to the commercial, military and business jet markets. Fokker specializes in the design, development and production of lightweight aero structures, electrical wiring interconnection systems and landing gear. It also provides maintenance, modification and logistic services to aircraft owners and operators. With almost 5,000 employees Fokker is headquartered in the Netherlands and has operations in Europe, North America and Asia. In the year ended 31 December 2014, Fokker generated revenue of €758 million.
“We are very pleased to conclude a successful sale of Fokker at this point in time”, said Örn Valdimarsson, Managing Director of Investments at Eyrir Invest. “Fokker’s operations have been doing well recently and the outlook remains favorable. Management and investors have maintained focus on the long term potential. With this sale to GKN we are achieving our main targets and we are satisfied with the results. We consider a sale now positive for the company, shareholders, employees and customers.”
Completion of the acquisition is expected to take place in the fourth quarter of 2015 following completion of the information and consultation procedures with the Fokker Works Council and trade unions, ITAR and CFIUS regulatory clearances and anti-trust clearance in the EU and the US.
For further information:
Fokker Press Release
About Eyrir Invest
Eyrir Invest is an international investment company. Eyrir Invest places great emphasis on participating in the operations and strategic planning of its core holdings. Eyrir Invests core holdings are a 29% share in Marel and 17% holding in London Acquisition, which owns Stork Technical Services and Fokker Technologies. In addition, Eyrir Invest invests in prominent growth companies through its venture capital subsidiary, Eyrir Sprotar slhf.