Hyperion Fund Eyes Major Stake in Spain’s Gestair Amid Expansion

In a strategic move within the aerospace and private aviation sectors, the Hyperion Fund is currently in advanced negotiations to secure a controlling interest in Gestair Private Jets, one of Spain’s foremost business aviation specialists. This development was first reported by the Spanish news outlet Expansión, which noted that Gestair is presently under the ownership of the Spanish investment firm GPF Capital.

Hyperion Fund, known for its focus on aerospace, defense, cybersecurity, and artificial intelligence, has recently bolstered its investment capacity, raising EUR 150 million (approximately USD 156 million). The potential acquisition of Gestair represents a significant opportunity for Hyperion Fund to mark its first major investment under its current leadership, which includes notable figures such as Pablo Casado, the former leader of Spain’s main centre-right party, the People’s Party (PP), and Ricardo Gómez-Acebo Botín, nephew of Ana Botín, the president of Santander Bank.

Gestair stands as Spain’s largest business aviation operator, with an expansive fleet that includes 24 aircraft registered in Spain and an additional seven under the AOC of Gestair Aviation Malta. Beyond its charter and aircraft management services, Gestair also operates a substantial maintenance, repair, and overhaul (MRO) unit based at Madrid Barajas Airport. This facility plays a critical role in supporting the Spanish Ministry of Defence, maintaining aircraft such as the A310-300s, Falcon 900(M)s, and Citation Vs for the Spanish Air Force/Ejército del Aire.

Financially, Gestair has demonstrated robust performance with a reported turnover in 2023 of EUR 182 million (USD 189 million) and an earnings before interest, taxes, depreciation, and amortization (EBITDA) of nearly EUR 11 million (USD 11.5 million). This financial health underscores the company’s operational success and market position within the competitive landscape of European business aviation.

The transaction, if concluded, would mark a significant change in ownership for Gestair, which was previously acquired by GPF Capital from Nazca Capital in 2019. This potential change in stewardship is poised to inject new energy and possibly new strategic directions into Gestair, aligning it with Hyperion’s broader investment strategy in high-tech industries.

As of now, attempts to reach representatives from Gestair, Hyperion Fund, and GPF Capital for comments have been unsuccessful. The aviation and investment communities are keenly watching these developments, as the successful acquisition by Hyperion could signal a new era for Gestair, potentially catalyzing further growth and innovation in its operations.

This acquisition aligns with a growing trend of private equity firms investing in specialized sectors that offer high growth potential and technological integration. Hyperion’s interest in Gestair not only highlights the attractiveness of the aerospace and defense sectors but also signals confidence in the ongoing expansion and modernization of business aviation services. As the negotiations progress, the outcome could have significant implications for the strategic positioning of business aviation services in Europe and the broader global market.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com