Cuatrecasas advises Ancala Partners on acquiring part of the aerial emergency services businesses owned by Babcock International
Cuatrecasas has advised Ancala Partners
on acquiring part of the aerial emergency services businesses owned by Babcock International. A British fund manager specializing in infrastructure investment, Ancala Partners negotiated its second transaction in Spain after purchasing 49% of Ence’s energy subsidiary.
The transaction totals €136 million and includes resources for firefighting, air medical transport and rescue operations, as well as over 232 aircraft across 164 operational locations in Europe. It also includes Babcock’s activities in Spain, Portugal, Italy, Norway, Sweden and Finland.
Regarding this transaction, Federico Roig, partner of the Cuatrecasas Corporate and M&A Practice, remarks, "This transaction is of huge strategic importance at a time when firefighting resources and services are essential, taking into account the current situation in Spain and Europe, where wildfires are intensifying due to the extreme heat wave.”
To complete the transaction, Cuatrecasas worked with British law firm Travers Smith, which handled the English law issues. Completion of the agreement is subject to certain regulatory and other conditions. The transaction is expected to be completed by the end of the calendar year.