Aerospace
eCube Solutions has been sold to Baird Capital Partners
Background
eCube Solutions, a leading provider of aircraft end-of-life services, has been sold to Baird Capital. Steen Associates acted as sole financial advisor to the shareholders of eCube Solutions Ltd. Founded in 2011 by Tim Schmidt and Mike Corne, eCube is headquartered in St. Athan, Wales, with a second European hub in Castellón, Spain, and has experienced rapid growth since inception.
About the transaction
Steen Associates conducted a comprehensive review of strategic options for eCube’s shareholders, including refinancing, a sale to a trade buyer, an IPO and partnerships with family offices. Following this process, and driven by considerations such as retaining material equity upside, the transaction resulted in a refinancing with Baird Capital. Steen also completed a detailed strategic review prior to the transaction, ensuring shareholders were optimally positioned to achieve maximum value despite the unprecedented challenges facing the aviation sector during COVID-19, with much of the process executed remotely. eCube was advised by Squire Patton Boggs on legal matters, with Mazars providing accounting support.
About the client
eCube Solutions is the European leader in aircraft end-of-life services, serving many of the world’s major leasing companies, airlines, investment funds, MROs and parts distribution companies. Its core services include aircraft storage, disassembly, and parts re-use and recycling, supporting the aviation industry’s transition toward more sustainable asset management.
Date:
August 2020
Service:
Sell side
Size:
Undisclosed
Deal locations:
