Los Aperribay afloran un 6% en Boost Air, el negocio aeronáutico de Azuaga y el fondo de Pablo Casado

Boost Air, a Spanish aeronautical maintenance company, has seen its ownership stake increase by 6% following a significant investment from Pablo Casado's Hyperion Fund and the Azuaga Financial Corporation. The Aperribay family, owners of the Vascon-based Sapa Placencia, now hold a 5.85% share in Boost Air, acquired through their investment vehicle, Sapa Placencia Holding.

This investment, totaling four million euros, brings the company's valuation to approximately 68 million euros. However, the 5.85% stake does not grant the Aperribays voting rights in the company's board of six members. Sources indicate that the Aperribays have no plans to seek a seat on the board or increase their stake in Boost Air.

They view the MRO sector as one growing rapidly and see their entry into Boost Air as an opportunity. The family's close relationship with current Boost Air partners also played a crucial role in their investment. Through Sapa Placencia Holding, the Aperribays also control nearly 8% of Indra, whose market valuation is around 918 million euros.

Boost Air, formed by the merger of Gestair, Brok-Air, and ATS Aviation, generates combined revenues of 280 million euros annually, with a target to double this figure in the next five years. The company focuses on the maintenance of executive, commercial, and defense aviation aircraft, with the executive and commercial branches contributing 40% each to the current revenue.

Defense aviation accounts for the remaining 20%. By 2027, defense aviation is expected to contribute between 45% and 50% of Boost Air's revenue, driven by upcoming military modernization plans and increased defense budgets. Boost Air is competing for a nearly 120 million euro contract to maintain the VIP fleet of the Spanish Army, used by officials such as the President of the Government and ministers.

The contract, to be awarded by the Ministry of Defense over the next four years, consists of two tranches: the first for 73.5 million euros and the second for 7 million euros, plus 16.1 million euros for potential modifications and 22 million euros for extensions. The first tranche covers the maintenance of five Dassault Falcon 900s and two Airbus A310s belonging to the 45th Group of the Spanish Air Force, while the second tranche, recently awarded to Boost Air, pertains to three Cessna Citation Vs used by the Air Force for aerial photography missions.