3i-backed Smarte Carte buys Aviation Mobility

Smarte Carte, a portfolio company of 3i Group, has acquired Aviation Mobility LLC. Financial terms weren’t announced. Aviation Mobility, of Charlotte, North Carolina, provides legally mandated wheelchairs for the commercial aviation sector.

PRESS RELEASE

3i-backed Smarte Carte, a leading concessionaire of essential infrastructure equipment, has acquired Aviation Mobility, LLC (‘Aviation Mobility’), a leading US provider of legally mandated wheelchairs in the commercial aviation sector. Aviation Mobility is present at over 300 airports, primarily in the US, and has a fleet of c.15,000 wheelchairs. The company is known for its strong customer service and its industry-leading deployment times and has long-term customer relationships, averaging 15 years.

In addition, Smarte Carte successfully closed a $225m senior debt refinancing. Proceeds were used to refinance existing debt and provide a distribution to shareholders.

Rob Collins, Managing Partner, 3i North American Infrastructure, commented: “The acquisition of Aviation Mobility, which offers identifiable synergies and cross-selling opportunities with our existing platform, is consistent with our thesis to acquire complementary businesses and integrate them into Smarte Carte.

We are also pleased with the company’s successful refinancing which saw strong demand from infrastructure lenders, reflecting a high level of confidence in Smarte Carte’s essential service offering, strategy and management team.”