New era for Resource Group after management buy out
A successful management buyout of Resource Group’s Aviation and Aerospace Resourcing business (including Contractair Ltd) and its Aviation Technical Training business has been completed.
The management buyout team has been led by Stephan Hickman who has 19 years of experience running various businesses in the group and who has assumed the role of CEO. Joining Stephan as part of the senior management buyout team are Jonathan Price (COO) and Ian Fitzpatrick (Group Managing Director for Training Services) both of whom have a wealth of experience within aviation and aerospace and as part of Resource Group. A new CFO has been recruited who will be joining the business in due course.
Under the MBO these businesses have been acquired by a newly incorporated company (Resource International Group Investments AG), which is registered in the canton of Zug, Switzerland. Financial partners in the transaction include Capital Transmission SA (Virginie Fauveau and Frédéric Tixier, Geneva, Switzerland) for the equity and leading bank, Credit Suisse (Switzerland) Ltd, for the financing.
According to Stephan Hickman: “Resource Group serves an industry with well documented skills shortages and by bringing these Resource Group businesses together we are able to focus on and grow the unique value proposition we offer by delivering blended aviation recruitment, training, project management and global staff deployment solutions. We have evolved into an aviation and aerospace skills business that can provide anything from ad-hoc support to fully managed outsourced resourcing and training solutions. The management team and I are extremely honoured to be entrusted by our partners and investors to deliver our vision for this business, which will be achieved mainly through organic growth although a strong appetite remains for complimentary business acquisitions. The Resource Group brand holds significant value in the aviation and aerospace sectors, as such we will be retaining the brand and continuing to operate as Resource Group.”