The sale of the former SAir Group maintenance arm SR Technics should be sealed within two months, following the €425 million ($425 million) management buyout last week led by UK investment group 3i (Flight International, 15-21 October). SR Technics' management team and employees will hold 12% of the company, while 3i and funds managed by the group will be the main shareholders. The maintenance specialist has just under 3,000 employees and expects to generate a turnover of €750 million this year. Talks with Lufthansa Technik and Singapore Technologies Engineering Aerospace on the sale of SR Technics fell through earlier this year. Italian state-owned holding company Sviluppo Italia has bought a 30% share in Sicamb, which manufactures ejection seats under licence from Martin Baker.

Source: Flight International