Leonardo announced today the closing of the acquisition of Kopter Group AG (Kopter) from Lynwood (Schweiz). The purchase price, on a cash and debt free basis, consists of a $185 million fixed component plus an earn-out mechanism linked to certain milestones over the life of the programme, starting from 2022.
The acquisition of Kopter allows Leonardo to further strengthen its worldwide leadership and position in the rotorcraft sector, in line with the Industrial Plan’s objectives for the reinforcement of the core businesses.
Leonardo buys 100% of the Swiss helicopter company Kopter from Lynwood
Profumo: “We confirm our commitment to strengthening Leonardo’s core business and sustaining our leadership in key areas. With this acquisition we will bring on board innovative skills and technologies that will complement our own and will also contribute to keeping us at the forefront of innovation and competitiveness whilst maintaining our financial solidity.”
Closing of the transaction is to take place in the first quarter of 2020
Leonardo has signed a contract with Lynwood (Schweiz) AG to acquire 100% of Kopter Group AG (Kopter).
This move allows Leonardo to further strengthen its worldwide leadership and position in the rotorcraft sector; leveraging innovation, new capabilities and engineering skills which have been developed by the young, agile Swiss Company.
Kopter’s SH09, a new single engine helicopter, is a perfect fit for Leonardo’s state of the art product range offering opportunities for future technological developments. The Swiss company’s competencies will boost future developments towards more disruptive technologies, mission capabilities and performances, including innovative hybrid/electrical propulsion solutions.
This acquisition will replace the planned investment aimed at the development of a new single engine helicopter. Within the Helicopter Division of Leonardo, Kopter will act as an autonomous legal entity and competence centre working in coordination with us. The purchase price, on a cash and debt free basis, consists of a $185 million fixed component plus an earn-out mechanism linked to certain milestones over the life of the programme, starting from 2022. The closing of the transaction is subject to certain conditions and is expected to take place during the first quarter of 2020.
Alessandro Profumo, Leonardo CEO, said: “By this deal we confirm our commitment to strengthening Leonardo’s core business and sustaining our leadership in key areas. With this acquisition we will bring on board innovative skills and technologies that will complement our own and will also contribute to keeping us at the forefront of innovation and competitiveness whilst maintaining our financial solidity.”
Gian Piero Cutillo, Managing Director Leonardo Helicopters, said: “We are proud to welcome this innovative company as an integral part of our world-leading helicopter business. It complements perfectly our existing product portfolio adding a promising rotorcraft that will greatly benefit from our industrial know-how, service and training experience and commercial network.”
Marina Groenberg, CEO of Lynwood, stated: “Lynwood is very proud to have strongly supported the development of Kopter and its SH09 programme over the past 10 years. It is now the right time for Leonardo to take over as they are a perfect match for Kopter at this stage of development.”
Kopter’s CEO Andreas Loewenstein declared: “Kopter is very excited to have won with Leonardo a solid industrial investor. Within Leonardo, we get the support to finalize our development on various fronts while keeping the ability to remain the agile single-engine pioneer that we are.”
For the transaction, Leonardo was assisted by EY and Gatti Pavesi Bianchi. Lynwood was assisted by HoganLovells.
Kopter to take over a 84,700 sq. ft. facility located at Lafayette Airport
Creation of 120 jobs by 2025 for production of around 100 aircrafts per year
Heli-Expo, Atlanta, March 5, 2019 – During an event taking place today at Heli-Expo, Louisiana Governor John Bel Edwards and Kopter Group’s CEO Andreas Löwenstein jointly announced that Kopter will establish a new production facility for its SH09 helicopter in Lafayette, Louisiana.
Discover our video at: https://koptergroup.com/videos/10
Kopter will lease a 84,700 sq. ft. facility from the Lafayette Airport Commission, which owns the stateof-the-art helicopter assembly buildings. This future production and support center comes in addition to the already existing and soon to be expanded Kopter sites in Switzerland, and will serve customers throughout the Americas. It is planned that it will ultimately source from U.S. suppliers parts representing more than 50 percent of the SH09’s value.
The State of Louisiana initially funded construction of the $25.3 million Lafayette facility on a 14.7-acre airport site. Kopter plans to make an important additional capital investment in new equipment and building extensions. Kopter will begin hiring of personnel later this year and prepare operations by mid-2020. Deliveries of locally assembled helicopters will start in 2021. Kopter intends to create at least 120 new direct jobs by 2025 in Lafayette, while production should ramp up to an anticipated volume of around 100 SH09 per year.
“We are delighted that Kopter chose Louisiana and Lafayette for the assembly of a dynamic new aerospace product,” Gov. Edwards said. “The SH09 helicopter will be highly competitive in the marketplace and provide outstanding performance, great passenger and cargo capacity, and superior engineering and design. Kopter could have chosen any location in North America to assemble this new helicopter. Louisiana’s outstanding workforce and facility assets, and our competitive business climate, make Lafayette the clear choice for Kopter’s future in the Americas.”
“Kopter Group chose the Lafayette site for several reasons,” Löwenstein said. “First, because of Louisiana, which is a rapidly growing and attractive region and already hosting several key helicopter operators and many industrial players. Second, for the easy access to a qualified workforce and a high-quality educational environment. And third, for the facility itself, which meets the highest standards and allows almost instant operations. Its location on the airport provides an ideal production environment, with quick and easy logistics and commercial access.”
In the framework of a thorough site selection process, Kopter Group conducted formal discussions with Louisiana Economic Development (LED) for several months. To secure the project, the State of Louisiana offered the company a competitive incentive package.
Kopter joins now a growing list of companies active in the helicopter sector in Louisiana, including offshore operators Bristow Group, Era Helicopters, PHI Inc. and RLC; and the medical air transport leader Metro Aviation.
This major step for Kopter’s development in the US follows the formation in July 2018 of a fully owned US subsidiary, Kopter North America LLC. Christian Gras is the CEO of this subsidiary – in addition to his responsibilities as Executive Vice-President for Kopter Group – and Larry Roberts the President Sales, Marketing & Customer support.