- SK is LLCP’s 17th exit since March 2020
- LLCP is a middle-market private equity firm based in Los Angeles, California
- Bridgepoint is a listed international alternative asset manager focused on middle-market companies
Levine Leichtman Capital Partners (LLCP) has sold SK AeroSafety, a global provider of maintenance, repair and overhaul services for aircraft safety equipment, to Bridgepoint.
No financial terms of the transaction were disclosed.
SK is headquartered in Wokingham, UK.
Bridgepoint invested in SK via its Bridgepoint Development Capital IV (BDC IV).
“The company is uniquely positioned to benefit from the structural trends occurring in the sector including airline fleet growth and the transition from in-house maintenance to outsourced services as airlines look to manage costs,” said David MacKenzie, partner at BDC.
LLCP invested in SK in 2019. SK is LLCP’s 17th exit since March 2020.
Bridgepoint’s investment in SK is the 11th platform investment by BDC IV and its fifth in the UK.
SK is the final investment in LLCP’s Levine Leichtman Capital Partners Europe fund.
LLCP is a middle-market private equity firm based in Los Angeles, California. The firm currently manages $8.7 billion of assets.
Bridgepoint is a listed international alternative asset manager focused on middle-market companies and is based in London.
Houlihan Lokey served as financial advisor and Willkie Farr & Gallagher served as LLCP’s legal counsel in connection with the transaction.
Bridgepoint was advised by KPMG (financial adviser), Ropes and Gray (legal advisor), BDO (financial and tax due diligence), Victanis (commercial due diligence), EY (tax structuring), ERM (ESG due diligence), Crosslake (technology due diligence) and Marsh (insurance due diligence).
(Note: Bridgepoint owns PEI Group, the publisher of PE Hub Europe.)
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