Kongsberg Defence & Aerospace, a subsidiary of Kongsberg Gruppen, successfully completed the acquisition of Aerospace Industrial Maintenance Norway AS (AIM), the company announced on May 29.
KONGSBERG announced in December 2018 the agreement with the Norwegian Ministry of Defence to buy AIM. The company is the Norwegian armed force’s business for maintenance, repair and overhaul of aircraft and helicopters.
KONGSBERG also completed its agreement with Patria for a shared ownership. KONGSBERG is the majority shareholder with 50.1% ownership and Patria with 49.9%.
The acquisition is a major step in consolidating the Norwegian industry’s competence and capability for military aircraft and helicopter maintenance. It will also strengthen KONGSBERGs role as a strategic partner for the Norwegian armed forces, both as a supplier of equipment and for maintenance, going forward.
“Our goal is to further develop AIM in the MRO business. We are significantly strengthening our position in the Nordic and international defence market as a world-class supplier within the industry,” says CEO of Kongsberg Gruppen, Geir Håøy.
The parties have agreed a value for AIM of MNOK 151, on a cash and debt free basis, and with working capital at an agreed level. The value reflects i.a. a commitment for AIM to invest around MNOK 540 in the new F-35 national facility at Rygge over the next 2-3 years.