Liquidity Events
Adani Defence to acquire MRO firm Air Works for Rs.400-Cr
Adani Defence Systems & Technologies Ltd (ADSTL) is to acquire Gurugram-based independent maintenance, repairs and operations (MRO) firm Air Works. Air works has a presence across 27 cities, with 6 maintenance bays and 900+ maintenance experts. It has developed extensive operational capabilities within the country for key defence and aerospace platforms. Air Works undertakes base maintenance for ATR 42/72, A320 and B737 fleet of aircraft from its EASA and DGCA-certified facilities at Mumbai, Delhi, Hosur and Kochi. Air Works and Boeing are currently undertaking maintenance checks on three P-8I long-range maritime patrol and anti-submarine warfare aircraft operated by the Indian Navy (IN) at Air Works, Hosur.
From the Venture Intelligence PE-VC Deal Database: Between May 07 and May 15, Air Works India Engineering had raised over USD 60 M from GTI Group, NEA, Elephant Capital and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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