Blake Morgan advises on sale of Percival Aviation
Leading law firm, Blake Morgan acted for the Seller, Percival Aviation Group Limited and its owner and long-standing client, Neil Percival, in advising on the sale of its UK subsidiary Percival Aviation Limited and its US subsidiary Percival Aviation Inc.
The business was sold to Jet Parts Engineering, a leading aerospace parts and engineering company located in Seattle, USA backed by Los Angeles based private equity firm, Vance Street Capital.
Percival Aviation was established in the 1970’s by Neil’s father and is based in Fareham, Hampshire. It specialises in the design, production and maintenance of aircraft interiors and associated equipment and has become one of the UK’s leading suppliers of aircraft interior components. The company is currently going through a major growth plan to expand its overseas presence to support its many airline customers around the world.
Blake Morgan worked alongside Quercus Corporate Finance, Altitude Accounting and US lawyers, Snell & Wilmer to complete the deal swiftly in a five week window.
The Blake Morgan team was led by Corporate Partner Manoj Styche-Patel (who has been Percival Aviation’s relationship partner for over 20 years). Manoj was supported by fellow corporate lawyers Katie Newham and Toby Price, as well as Tax Partner Rob Thomas and Banking & Finance Partner Paul Duggan.
Manoj Styche-Patel, Corporate Partner at Blake Morgan, commented:
“This is an excellent transaction for all concerned – Percival Aviation, Jet Parts Engineering and Neil. It is an exciting time for Percival Aviation to continue their expansion and I have no doubt that under Jet Part’s stewardship, the Company will go from strength to strength. And congratulations to Neil – it has been a real pleasure to work with him and his team over many years. We achieved completion within a tight timetable thanks to the cooperation and collaboration of all the advisers on both sides.”
Neil Percival, CEO of Percival Aviation, added:
“Thank you to Manoj and the team at Blake Morgan and all the advisers for helping to get this deal done so quickly and over different jurisdictions. It is a credit to their know-how and experience. They understand our business and ensured I knew what was happening throughout the process.”
Blake Morgan has extensive experience in advising on cross-border and domestic mergers, acquisitions and disposals, joint ventures and private equity backed transactions. Find out more about the M&A services here.
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