London – Basalt Infrastructure Partners LLP (“Basalt”) announced today that the third flagship Basalt fund (“Basalt III”) has entered into a definitive agreement to acquire Unilode Aviation Solutions (“Unilode” or the “Company”) from EQT Infrastructure II.
Headquartered in Zurich, Switzerland, Unilode is the global market leader in specialty aviation infrastructure leasing. The Company owns and manages a fleet of 145,000 Unit Load Devices (ULD) that are provided under long-term, full-service leasing agreements to airlines and cargo carriers. ULDs are mission critical containers and pallets used for the transportation of baggage and cargo on aircraft. The Company operates a global network of c.50 service centers that offer a wide array of infrastructure servicing solutions for ULDs and galley carts.
John Hanna, co-head of Europe for Basalt said, “We are very excited at the opportunity to acquire Unilode, and believe that it is a great addition to Basalt III. It will provide complementary diversification to the rest of the portfolio underpinned by its strong contracted revenues but with further growth opportunities. We recognise the key role that the company plays in assisting its customers drive efficiency and reduce their carbon footprint and we look forward to supporting the management team in continuing to deliver its core operational and sustainable service.”
Benoit Dumont, CEO of Unilode said, “I have enjoyed working with Basalt throughout this transaction process and believe we have a shared objective for the next phase of Unilode’s development. I see substantial further growth potential in the years to come driven by a new outsourcing wave currently emerging and supported by our pooling synergies and state-of-the art digital infrastructure.”
The transaction is expected to close during Q3 2021 and will mark Basalt III’s fifth investment.
Jefferies served as financial adviser to Basalt III and Baker McKenzie served as its legal adviser.
About Basalt
Basalt is the exclusive investment advisor to the Basalt funds, comprising Basalt I, Basalt II and Basalt III. The Basalt funds are infrastructure equity investment funds focusing on mid-market investments in utilities, power, transport, and communications infrastructure in North America and Europe.
For more information, please visit www.basaltinfra.com
About Unilode
Unilode owns and manages the world’s largest fleet of approximately 145,000 unit load devices (ULDs), for use in the aviation industry, and owns and operates the largest global network for the maintenance and repair of ULDs and inflight food service equipment. Unilode provides management, repair, short term leasing and digitalisation solutions to over 90 airlines through a network of more than 550 airports, 18 regional offices and 49 certified repair stations, supported by 600+ employees.
More info: www.unilode.com
About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com [eqtgroup.com]
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