Egeria acquires aircraft painting company MAAS Aviation
The company’s executive management team has retained a minority interest in the company. MAAS Aviation is one of the leading commercial aircraft painting companies in the world with operations in The Netherlands, Germany and the USA.
AMSTERDAM – Egeria, an Amsterdam based investment company, has acquired a majority interest in the Irish headquartered MAAS Aviation Group. The company’s executive management team has retained a minority interest in the company. MAAS Aviation is one of the leading commercial aircraft painting companies in the world with operations in The Netherlands, Germany and the USA. Founding shareholder and Executive Chairman, Darragh Hall exits MAAS Aviation after almost 40 years with the company. The financial details of the transaction have not been disclosed.
MAAS Aviation has achieved significant growth over the last five years and has developed successful partnerships with OEM and airline customers with the company becoming an important service provider to Airbus Group at the latter’s manufacturing facilities in Hamburg, Germany and at its US Final Assembly Line in Mobile, Alabama. In addition, the company repaints aircrafts at dedicated MRO paint shops located at Maastricht Aachen Airport and Woensdrecht in The Netherlands and in Mobile, Alabama. The company benefits from long term customer contracts which provide stability and a foundation on which to build.
As well as painting commercial aircraft, MAAS has also developed expertise in the design and procurement of state-of-the-art paint shops. This capability, combined with its aircraft painting expertise has contributed to the company’s growth in recent years. MAAS’ paint shop infrastructure ranks amongst the best in the world.
The investment by Egeria provides the company with the financial backing and support to enable management to deliver further planned growth and to meet known opportunities driven by the increase in demand for aircraft painting as a result of the macro growth drivers in the global aviation sector.