Houlihan Lokey Advises E.I.S. Aircraft Operations

Houlihan Lokey is pleased to announce that E.I.S. Aircraft Operations (E.I.S. AO), a division of EQT Partners AB's (EQT) portfolio company, E.I.S. Aircraft Group, has been acquired by QinetiQ Group plc (QinetiQ) for €70 million. The transaction closed on October 17, 2018.

Based in Germany, E.I.S. AO is a leading provider of mission-critical airborne training and technical solutions to the global defense sector. The Company delivers airborne training services and threat replication simulations using a cost-effective fleet of Pilatus PC-9 and PC-12 aircraft. E.I.S. AO has been the exclusive provider of low-speed aerial training services to the German Armed Forces (Bundeswehr) since 1999 and provides additional air-to-air training and forward air controller services to both the Bundeswehr and the United States Armed Forces in Europe. The Company also modifies aircraft for special missions through the integration of sensors and digital systems used in Intelligence, Surveillance, and Reconnaissance (ISR) applications.

EQT is a leading investment firm with approximately €49 billion in raised capital across 26 funds. EQT funds have portfolio companies in Europe, Asia, and the U.S. with total sales of more than €19 billion and approximately 110,000 employees.

QinetiQ is a leading UK-based science and engineering company operating primarily in the defense, security, and aerospace markets. QinetiQ works in partnership with customers to solve real-world problems through innovative solutions. The acquisition of E.I.S. AO is expected to accelerate QinetiQ's international growth strategy, establishing test, evaluation, and engineering services capability in Germany, as well as strengthen QinetiQ's capability integration, threat representation, and operational readiness offerings.

Houlihan Lokey served as the exclusive financial advisor to E.I.S. AO. This transaction underscores Houlihan Lokey's continued leadership and expertise inmilitary training and simulation, and exemplifies the firm’s ability to seamlessly execute complex cross-border transactions.

Houlihan Lokey's Aerospace•Defense•Government (ADG) practice is among the leading M&A advisors to aerospace, defense, government services, and homeland security companies. Since 2015, we have closed more than 60 transactions worth nearly $15 billion in enterprise value. With a staff of approximately 30 investment bankers in Washington, D.C., London, and Los Angeles, Houlihan Lokey's ADG practice is among the largest dedicated industry banking groups worldwide.