Kaye Scholer Represents 328 Group in Sale of Aviation Companies to SN
An international team of Kaye Scholer attorneys recently represented the owners of 328 Group Limited on the successful sale of their aviation companies to Sierra Nevada Corporation (SNC). SNC is an American prime systems integrator and electronic systems provider and one of the world’s fastest growing and most successful aerospace companies. The transaction includes the Type Certificate for Dornier 328 aircraft and other Dornier-related assets.
The transaction, which closed January 30, involved parties in the US, the UK and Germany. UK-based 328 Group Limited controls Germany-based 328 Support Services GmbH and 328 Design GmbH, and owns the Type Certificate and intellectual property rights for design, manufacturing, maintenance and certification of the 200+ existing Dornier 328 turboprop and jet aircraft variants. These are intended to synergize with licenses owned by SNC for modernization technologies including multi-mission applications for the aircraft type ranging from transport and cargo to surveillance and medical use.
“This is a time of increased opportunity in the aviation industry,” says Philip Perrotta, co-head of our internationally-recognized Aviation Finance & Leasing Practice. “There are parts of the market which offer real value, and both the regional aircraft segment and the crossover civil/military aircraft space are some of those. Kaye Scholer’s global footprint and international network of offices, as well as its strong aviation and finance roots enable us to make the business-critical difference for our clients around the globe. We do this consistently by guiding our broad range of clients effectively in connection with complex domestic, cross-border and multi-jurisdictional aviation transactions. This disposal by the owners of 328 Group Limited is a perfect example of that guidance.”
Managing Directors of 328 Support Services GmbH, Dave Jackson and Tony Shakesby, who remain involved in the business under its new ownership, appreciated the role Kaye Scholer played in supporting the owners.
“Their industry know-how combined with a commitment to achieving the result we wanted was outstanding. We would not have done the deal in such a timely fashion—a most difficult transaction in many ways—without Kaye Scholer’s team,” remarked Jackson.
The deal allowed Kaye Scholer to demonstrate the quality of its offering and the benefits of its integrated international teams coming together on a multi-jurisdictional project to provide excellent service and a successful outcome for its clients. This international aspects involved attorneys from our UK, US and German offices.
“The ability to harness their team cohesively across their London, New York and Frankfurt offices distinguished Kaye Scholer and was a major factor in the successful outcome,” Shakesby added.
Philip coordinated the cross-office support to 328 Group Limited with partner Sean Scanlon leading the UK team, which included Amy Utley, Tanyel Serpemen and Daniel Lewin; Lowell Dashefsky led the US team, including David Menchel, Natasha Hsieh and Gregg Benson; and Annette Bodeker led the German team, which included Sandra Pfister, Klaus Alten, Martin Weger and Felix Haug.