QinetiQ Group has successfully completed the acquisition of EIS Aircraft Operations for a total cost of €70m on a cash-free, debt-free basis.
The acquisition concluded after QinetiQ received regulatory and legal approval for the transaction.
Aircraft Operations is a Germany-based company that is focused on providing advanced airborne training services, in addition to supplying lightweight cabin interior products and a wide range of composites and specialised thermoplastics solutions.
The company remains committed to delivering threat representation and operational readiness for different military customers.
Aircraft Operations offers airborne training services using a highly cost-effective fleet of 14 leased Pilatus PC-9 and Pilatus PC-12 aircraft, which are operated by a team of 20 pilots.
The acquisition will provide QinetiQ with a number of strategic benefits, including strengthening capability integration, threat representation and operational readiness offering while enabling the company to speed up its international growth.
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The definitive agreement for the purchase was reached between the two companies in April.
Following the acquisition, Aircraft Operations will continue to be led by its existing management team and will form a part of QinetiQ’s international business unit.
It will be reported within QinetiQ’s Europe, Middle East and Africa (EMEA) services division.