Wheels Up UK has agreed to acquire the charter brokerage Air Partner in an all-cash deal.
Under the terms of the deal, Air Partner’s entire issued, and to be issued, ordinary share capital is valued at approximately GBP84.8 million (USD107 million).
Mark Briffa, ceo of Air Partner, commented: “This proposed acquisition has a compelling strategic rationale, bringing together two businesses with complementary offerings and values for the benefit of their customers. I am extremely proud of Air Partner; we have built a fantastic team and a highly attractive business and Wheels Up’s offer is a clear acknowledgment of this.”
