Canada-based CAE (NYSE: CAE); (TSX: CAE) has announced it has acquired a 50% stake in SIMCOM Holdings, Inc. for approximately USD 85m, the company said.
As part of the transaction CAE announced it has concluded a strategic partnership with Directional Aviation Capital (DAC), a global corporate aviation service company.
DAC´s affiliated business aircraft operators, which include Flexjet, Flight Options, Flairjet, Sirio, Nextant Aerospace and Corporate Wings have entered into a 15-year exclusive training services agreement with SIMCOM and CAE. In all, these companies operate 175 business aircraft and have more than 80 aircraft on order.
Directional Aviation Capital is a private investment firm whose singular focus is private business aviation. Combining strategic aviation ownership, unmatched experience and revolutionary vision, Directional continues to innovate and reshape private aviation.
A privately-owned, comprehensive learning institution, SIMCOM utilizes realistic simulator-based training to provide advanced aviation training services to professional pilots, owner-operators, Part 135 operators and maintenance personnel operating in general aviation, regional, military, government and cargo operations around the world. SIMCOM currently operates 47 simulators and flight training devices representative of a wide range of jet, turboprop and piston powered aircraft.
CAE is a global leader in training for the civil aviation, defence and security, and healthcare markets. Backed by a record of more than 70 years of industry firsts, CAE continues to help define global training standards with our innovative virtual-to-live training solutions to make flying safer, maintain defence force readiness and enhance patient safety.