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One of the world’s biggest aviation intelligence firms has been sold for £172m
Posted by Billy Wood on 16 Feb 2017
One of the world’s biggest providers of flight intelligence and information services, OAG, has changed hands after being sold by its current owners AXIO Group in a deal worth around $215m (approx. £172m).
The business, which is headquartered in Luton but also has offices in Boston and Massachusetts, has been acquired by London-based private equity firm Vitruvian Partners.
Serving airlines, airports and airport services, OAG provides flight information and analytical services to vast swathes of the aviation industry, including the likes of San Francisco Airport and Hong Kong International, and is well-known in the industry for its punctuality league tables which it publishes every year.
The deal was announced to this stock exchange this morning by private equity fund manager Epiris, which counts AXIO as a portfolio company, which realises a £104m return from the sale for Electra Private Equity investment trust.
Alex Cooper-Evans, Partner at Epiris, commented: "OAG is another AXIO success story. The business has been transformed during the period of our ownership with strategic focus, operational improvement and investment.
"OAG has grown earnings at more than 30% a year since 2013 and now has a clear strategy to continue its growth in the future. Phil Callow and his team have done a fantastic job with the business and we wish them well for the next chapter in the OAG story."
Henry Elkington, Chief Executive Officer at AXIO Group, said: "Under AXIO’s ownership OAG has focussed its activities on subscription data services, disposing of non-core events and media products. OAG acquired FlightView in 2015 to expand its customer base, and strengthen its leadership in flight status data services.
"We will continue to improve our remaining portfolio business by focussing on our leadership positions, driving efficiency, and investing for growth."