Caledonia Investments plc (LSE:CLDN) and the management team acquired Air-Serv Europe Limited from AIR-serv Group LLC for approximately £140 million on April 19, 2023. Caledonia has subscribed 99.8% equity stake in Air-Serv whereas the remining stake which is 0.2% will be taken over by the management team. Air-Serv Europe comprises Airvending Limited and AIR-serv Netherlands B.V. The balance of the purchase price will be financed from bank debt facilities totaling £60 million. Ed Waldron, Jonny Bethell and Martin Yells of Taylor Wessing LLP acted as the legal advisors to Caledonia Investments plc (LSE:CLDN). Phil McCreanor and Aude Doyen of Lincoln International LLP acted as the financial advisors to Caledonia Investments plc (LSE:CLDN). Tom Gladstone of OC&C provided commercial advice along with Tim Haden of Deloitte UK providing tax advice and James Tubby of PricewaterhouseCoopers LLP providing advice on financial due diligence to Caledonia. Jack Blomfield, Manuel Sammut, AJ Reus and Nick Comhair of William Blair International, Ltd acted as the financial advisors to AIR-serv Group LLC. Andrew Schoorlemmer and Robert Hatton of Allen & Overy LLP acted as the legal advisors to AIR-serv Group LLC. Rishi Shah of EY Parthenon and Mark Griffiths of Ernst & Young Ltd. acted as financial due diligence advisors to AIR-serv Group LLC. Kevin Palmer of Liberty Corporate Finance and James Cross of K&L Gates advised the management. Aude Doyen, Phillip McCreanor, Teodora Sabeva of Lincoln International LLC acted as financial advisors to Air-Serv Europe Limited.

Caledonia Investments plc (LSE:CLDN) and the management team completed the acquisition of Air-Serv Europe Limited from AIR-serv Group LLC for approximately £140 million on April 19, 2023.