London | Tuesday 18 August 2020
eCube Solutions has been sold to Baird Capital Partners
eCube Solutions, a leading provider of aircraft end-of-life services, has been sold to Baird Capital. Steen Associates acted as sole financial advisor to the shareholders of eCube Solutions Ltd.
eCube Solutions is the European leader in aircraft end-of-life services to many of the world’s major leasing companies, airlines, investment funds and MRO and parts distribution companies. Core services provided by eCube include aircraft storage, disassembly and parts re-use and recycling services.
eCube is headquartered in St. Athan, Wales, with a second European hub in Castellón, Spain. Founded in 2011 by Tim Schmidt and Mike Corne, the company has experienced rapid growth and this investment will allow eCube to continue its focus on innovation and growth
Steen Associates conducted a review of all options for the shareholders of eCube, including but not limited to: a refinancing, sale to trade buyer, IPO and partnership with family offices. For a number of reasons, including retaining material equity upside, the final result involved a refinancing with Baird Capital.
Steen Associates also completed a detailed strategic review of eCube prior to sale ensuring the shareholders were best placed to achieve maximum value despite the unprecedented challenges to the aviation sector posed by COVID-19, resulting in the bulk of the transaction being carried out remotely.
eCube were also advised by Squire Patten Boggs (legal) and Mazars provided accounting support prior to completion.
– Ends –
Notes to Editors:
1
About eCube Solutions
eCube Solutions is the European leader in aircraft end-of-life services to many of the world’s major leasing companies, airlines, investment funds and MRO and parts distribution companies. Core services provided by eCube include aircraft storage, disassembly and parts re-use and recycling services.The company’s headquarters are in St. Athan, Wales, with a second European hub in Castellón, Spain.
2
About Baird Capital
Baird Capital makes private equity investments in lower middle-market companies across Europe, Asia and the United States. Its U.K. Private Equity group provides equity capital for companies in the Healthcare, Technology & Services, and Industrial Products sectors.
3
About Steen Associates
Steen Associates Ltd., founded in 2005 and present in Germany since 2011, acts as trusted adviser for public and private companies operating in the general industries and the aerospace & defence sector. With offices in London, Frankfurt and Paris, Steen Associate’s European Advisory’s business designs and executes strategic M&A and financing solutions. It combines the breadth of its advisory offering with industry specific insights to achieve a unique understanding and perspective into markets and participants globally.
For more details about Steen Associates please visit www.steenassociates.com
4
Contact Details
Jason Steen
Partner
Steen Associates
London
T: +44 (0)20 7405 5040
E: jason@steenassociates.com
Jörg Freimund
Partner
Brentanostraße 6
60325 Frankfurt am Main
Deutschland
T: +49 69 770 1992 10
E: joerg@steenassociates.com
...read more
