GESSEL advises Avia Prime on the investment by the Hartenberg Holding fund
GESSEL provided comprehensive legal support including, in particular, devising the legal structure of this complex transaction, drafting the compendious transaction documentation (which had to take into account a series of factors unique to the aviation industry), negotiations, assistance at closing, and ongoing work on performance of the contract terms. Quite apart from that, GESSEL functioned as a one-stop shop for the parties to the transaction, coordinating input from Czech and Slovenian counsel.
Avia Prime is a corporate group comprising the Polish company Linetech and the Slovenian Adria Airways Tehnika. Both these entities provide a wide range of maintenance, repair, and overhaul (MRO) services for narrow-body aircraft.
Between them, Linetech and Adria Airways Tehnika employ more than 700 top-notch aviation specialists and mechanics in Poland and in Slovenia; from 2002 onwards, they have performed no less than 1,750 D-checks, lesser inspections, and repairs, mainly of Airbus (320 family), Boeing (737 family), Embraer and Bombardier aircraft, for clients including Swiss, Lufthansa, EasyJet, Wizz Air, Enter Air and Travel Service.
Linetech operates two hangars in Poland – in Katowice and in Rzeszów – and specialises in Boeing and Embraer aircraft. Adria Airways Tehnika (a company whose acquisition in 2015 was also advised on by GESSEL), meanwhile, concentrates on Airbus and Bombardier aircraft and is the latter’s only authorised maintenance and repair provider in Europe. Adria Airways Tehnika’s hangars are in Ljubljana.
Hartenberg Holding is a Czech private equity fund with a portfolio including, among other entities, FutureLife a.s. and Good Food Products Sp. z o.o.
The GESSEL team working on this transaction was led by Marcin Macieszczak, managing partner, with day-to-day management by Michał Bochowicz, advocate. The team members included Krzysztof Jasiński, attorney and Karolina Czarnecka, lawyer. The tax aspects of the transaction were attended to by Inarda Bielińska, and antitrust issues – by Karolina Krzal.
Finalisation of the deal is still contingent upon clearance from the Polish and Slovenian antitrust authorities.