Czech investment firm Hartenberg Holdings is to take a 50% shareholding in the parent of maintenance company Adria Airways Tehnika and its sister firm Linetech.
Hartenberg specialises in assets in Central Europe – mainly Slovakia, Poland and the Czech Republic.
The company is acquiring 50% of Avia Prime, which is the sole owner of the two maintenance firms.
Hartenberg says the agreement is subject to regulatory approval but states that it views the investment as having "great potential".
"Our intention is to support new investment initiatives of both companies and we hope to continue with the impressive growth from recent years," says founder Jozef Janov.
"The aviation industry is growing dynamically and a new generation of aircraft is just coming to service. Both companies, Linetech and Adria, are very well prepared for this growth and modernization with highly skilled team and modern facilities."
Ljubljana-based Adria Airways Tehnika focuses on Airbus and Bombardier jets while Linetech has Boeing and Embraer capabilities and operates facilities in the Polish cities of Katowice and Rzeszow.
Avia Prime chief Piotr Kaczor says the "strong" financial position of the new partner will "support our ambitious development and innovation plans".
These include extending capabilities to such aircraft as the Airbus A350, Boeing 787, and the re-engined A320neo and 737 Max.
"In the next two years, in order to meet the growing demand from our clients and leasing companies, we plan to increase significantly our workforce and the scale of our operations," says Kaczor.
Source: Cirium Dashboard