Kopter, a Leonardo company
BAN's World GazetteerSwitzerland
Leonardo has signed a contract with Lynwood (Schweiz) to acquire 100 per cent of Kopter Group.
Leonardo CEO Alessandro Profumo says: “With this deal we confirm our commitment to strengthening Leonardo's core business and sustaining our leadership in key areas. The acquisition will bring on board innovative skills and technologies that will complement our own, and will also contribute to keeping us at the forefront of innovation and competitiveness while maintaining our financial solidity.”
Kopter's SH09, a new single engine helicopter, is considered to be a perfect fit for Leonardo's product range offering opportunities for future technological developments. The Swiss company's competencies will boost future developments towards more disruptive technologies, mission capabilities and performances, including innovative hybrid/electrical propulsion solutions. This acquisition will replace the planned investment aimed at the development of a new single engine helicopter. Kopter will act as an autonomous legal entity and competence centre within the helicopter division of Leonardo, working in coordination with its new parent.
“Kopter is very excited to have won with Leonardo a solid industrial investor,” notes CEO Andreas Loewenstein. “Within Leonardo, we get the support to finalise our development on various fronts while keeping the ability to remain the agile single engine pioneer that we are.”
The purchase price, on a cash and debt free basis, consists of a $185 million fixed component plus an earn-out mechanism linked to certain milestones over the life of the programme, starting from 2022. The closing of the transaction is subject to certain conditions and is expected to take place during the first quarter of 2020.
Leonardo Helicopters managing director Gian Piero Cutillo adds: “Kopter complements perfectly our existing product portfolio adding a promising rotorcraft that will greatly benefit from our industrial know-how, service and training experience and commercial network.” And Lynwood CEO Marina Groenberg concludes: “Lynwood is very proud to have strongly supported the development of Kopter and its SH09 programme over the past 10 years. It is now the right time for Leonardo to take over as it is a perfect match for Kopter at this stage of development.”