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Boels Zanders advised the shareholders of the Irish headquartered MAAS Aviation Group on the sale of their majority interest to Egeria. The company’s executive management team has retained a minority interest in the purchaser. MAAS Aviation is one of the leading commercial aircraft painting companies in the world with operations in The Netherlands, Germany and the USA. Founding shareholder and Executive Chairman, Darragh Hall exits MAAS Aviation after almost 40 years with the company. The financial details of the transaction are not disclosed.

The Boels Zanders’ team was led by Janou Briaire, assisted by Marie-Louise Kneepkens (M&A) and Mareine Callemeijn (HR). Boels Zanders had the lead in negotiating the share purchase and participation terms under Dutch law, in close cooperation with KPMG Ireland. The legal and tax team from KPMG Ireland was led by Francis Hackett, the Corporate Finance team from KPMG Ireland was led by Paul Kealey.

Departing majority shareholder and founder Darragh Hall said about his cooperation with Boels Zanders: “We worked closely alongside Janou Briaire and the Boels Zanders team throughout our transaction. We would like to thank the team for responsive, collaborative and highly professional service at all times. The team are experts in their field.”

Francis Hackett, chairman Legal Services KPMG Ireland, commented: “We worked closely with Boels Zanders (and specifically Janou Briaire on this transaction) and found them very responsive and commercial in their advice on Dutch law issues.”

Janou Briaire said: “We were pleased to advise on this transaction in close cooperation with the executive management team and KPMG teams involved. We wish the executive management team and Egeria every success for the future and Darragh a well-deserved retirement.”

About MAAS Aviation Group
MAAS Aviation group is a leading specialist aircraft painting company with operations in the Netherlands, Germany and Alabama, USA. Having originally operated in Ireland at both Shannon and Dublin airports, the company relocated to a new continental Europe base at Maastricht airport in the Netherlands in 1988. The company has forged a very successful partnership with Airbus Group and currently operates four dedicated OEM paint shops for Airbus at the latter’s manufacturing facilities in Hamburg, Germany and in Mobile, Alabama. The company also operates a further five MRO aircraft paint shops in the Netherlands and in Mobile, Alabama resulting in the company’s position as a global player in the aircraft painting industry. The company employs 300 employees and is currently painting approximately 400 aircraft a year with plans to grow both employment and capacity over the next five years.

About Egeria

Egeria is an independent Dutch investment company, which focuses on medium-sized companies. Egeria invests in healthy companies with an enterprise value between EUR 50 million and EUR 350 million. Egeria Evergreen has investments in five companies (DuraVent, M&G Group, Koninklijke Mosa, Sif Group and Vendor Toilethygiëne). Other activities are: Egeria Funds (11 companies), Egeria Real Estate Investments, and Egeria Real Estate Development. Egeria’s portfolio companies have a combined turnover of over EUR 2.3 billion and employ close to 10,000 people.

May 2019