BBA Aviation acquired Firstmark Corp for $97m

BBA Aviation, a market-leading provider of global aviation support and aftermarket services, has announced that it has completed the acquisition of Firstmark Corp, an aerospace focused aftermarket service provider on terms previously announced, having received the necessary governmental and regulatory approvals. This business will be part of Ontic, our Aftermarket Services business, under Gareth Hall's leadership. The $97m consideration represents an expected year one EBITDA multiple of 11.1x before acquisition related expenses of $1.6m. Firstmark is expected to contribute revenue of around $27m in its first full year of ownership. "We are pleased to have reached an agreement to acquire Firstmark. This acquisition fully supports the strategic growth of Ontic by expanding the portfolio of proprietary products on established civil and military aircraft platforms and adding footprint on the US East Coast." Mark Johnstone, BBA Aviation Chief Executive.