Kongsberg Acquires Aerospace Industrial Maintenance Norway AS
(Source: Kongsberg Group; issued Dec 13, 2018)
Kongsberg Defence & Aerospace (Kongsberg), a subsidiary of Kongsberg Gruppen, has entered into agreement with the Norwegian Ministry of Defence for the acquisition of Aerospace Industrial Maintenance Norway AS (AIM).

AIM is the Norwegian armed force’s business for maintenance, overhaul and upgrade of the Air Force’s aircraft and helicopters. In order to further strengthen deliveries, capability and competence Kongsberg has entered into agreement with Patria for a shared ownership where Kongsberg is the majority shareholder with 50.1% ownership and Patria with 49.9%.

Patria will contribute with important experience and competence within maintenance, and the two companies will combined ensure a solid foundation for further development. The acquisition is a major step in consolidating the Norwegian industry’s competence and capability for military aircraft and helicopter maintenance.

“The acquisition of AIM is a significant milestone to strengthen Kongsberg’s role as a strategic partner for the Norwegian armed force’s operative requirements, both as a supplier of equipment and for maintenance. With this acquisition our ownership in the Nordic defence industry is further strengthened and we are taking new, important steps in the Nordic and international defence market,” says CEO of Kongsberg Gruppen, Geir Håøy.

AIM has played a major role in Norwegian aviation industry since 1916 and has 440 employees. The company has its main operating base at Kjeller and an operative unit at Rygge air station. AIM has 100% ownership in the Belgium Engine Center SPRL(BEC) in Herstal outside of Liege in Belgium. The AIM Group conducts advanced and heavy maintenance, overhaul and upgrade primarily within air military operations. Important priorities are engine maintenance for the new F-35 aircraft and for Norway’s new search and rescue helicopters.

“For the last 30 years Kongsberg has conducted maintenance and repairs of gearboxes and rotor heads for Sea King helicopters. In 2018 this was expanded with a gear box and test facility for maintenance of more than a hundred military helicopters in the Nordics and other nations. In conjunction with the extensive operations we have for air defence systems, aircraft parts and missiles for the F-35, this acquisition makes us a more complete supplier with increased strategic importance to the Norwegian Air Force,” says Eirik Lie, President of Kongsberg Defence & Aerospace.

An important factor during the acquisition process has been to facilitate the development of AIM to become a main provider of maintenance of the Norwegian Defense force’s air force systems, so that AIM can contribute to safeguard national readiness on such maintenance. This co-operation will strengthen national ability to sustain a qualified readiness for such competence in Norway.

“Kongsberg and the Norwegian armed forces have entered into a strategic agreement which will provide basis for future maintenance work through AIM. We see considerable opportunities within advanced maintenance, and the acquisition will secure national readiness and entail more cost-efficient maintenance of the armed force’s aircraft and helicopters. The acquisition strengthens our position in the Nordic maintenance market, where we are now taking a next step in the Nordic defence industry alliance we established with the purchase of 49.9 per cent of Patria in 2016. Our joint team is looking forward to welcome highly skilled AIM employees, and we are looking forward to our combined future performance,” Lie continues.

AIM Group is expected to have a revenue of around NOK 1 billion and an EBITDA margin of 8-9% for 2018. The parties have agreed an enterprise value of NOK 151 million, on a cash and debt free basis, and with normalized working capital. This value reflects i.a. a commitment for AIM to invest around NOK 540 million in the new F-35 national facility at Rygge over the next 2-3 years.

The acquisition is subject to among others, approval by relevant authorities, and is expected to be finalized during H1 2019. The purchase price will be financed by available cash and finally settled in 2023. The purchase price will be subject to certain post-closing adjustments.


Kongsberg is an international, knowledge-based group delivering high technology systems and solutions to clients within the oil and gas industry, merchant marine, defence and aerospace. Kongsberg has 7 000 employees located in more than 25 countries and total revenues of NOK 14.5 billion in 2017.

This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.

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Kongsberg and Patria Will Acquire AIM Norway and Take Over Its Maintenance, Overhaul and Upgrade of Aircraft and Helicopters for the Norwegian Air Force
(Source: Patria; issued Dec 13, 2018)
Kongsberg Defence & Aerospace (KDA), a subsidiary of Kongsberg, has entered into agreement with the Norwegian Ministry of Defence for the purchase of Aerospace Industrial Maintenance Norway AS (AIM Norway), which is the Norwegian armed force’s business for maintenance, overhaul and upgrade of the Air Force’s aircraft and helicopters.

In order to further strengthen AIM Norway’s deliveries, capability and competence, KDA and Patria have entered into agreement for a shared ownership where KDA’s ownership is 50.1% and Patria’s 49.9%.

Patria will contribute with important experience and competence within aerospace maintenance, and the two companies will jointly ensure a solid foundation for further development. The acquisition is a logical continuation of Patria’s work for the Norwegian defense forces in the helicopter area supporting their NH90 and Bell 412 fleets.

AIM Norway has played a major role in Norwegian aviation industry since 1916 and has 440 employees and revenues of 113 million euros (2017). The company has its main operating base at Kjeller and an operative unit at Rygge air station, and conducts advanced and heavy maintenance, overhaul and upgrade primarily within air military operations. Important priorities are engine maintenance for the new F-35 aircraft and for Norway’s new AW101 search and rescue helicopters. AIM Norway also owns Belgium Engine Center (BEC), with its main operating base in Herstal, outside of Liege in Belgium. BEC is a one-stop shop for engine maintenance, repair and overhaul services.

“The purchase of AIM Norway is an important milestone for Kongsberg and an important step in the Group’s strategy of being a strategic partner for the Norwegian armed force’s operative requirements, both as a supplier of equipment and for maintenance. With this acquisition our ownership in the Nordic defence industry is further strengthened and we are taking new, important steps in the Nordic and international defence market”, says Geir Håøy, CEO of Kongsberg.

“Patria has a long history and solid know-how in combat aircraft and helicopter maintenance, including their engines, both in Finland and other Nordic countries, and now this business will be brought to the next level. I am pleased that our competence is acknowledged internationally. Growth in international maintenance operations is at the core of our strategy. Patria has also established a new subsidiary, Patria ISP Oy, focusing on the international maintenance and lifecycle support business. This corporate structure enables the necessary firewalls between Patria's international business and the strategic partnership with the Finnish Air Force”, states Olli Isotalo, President and CEO of Patria Group.


Patria is an international provider of defence, security and aviation life cycle support services and technology solutions. Patria has several locations including Finland, Sweden, Norway and Estonia. Net sales totaled EUR 467.7 million in 2017, and Patria employs 2,800 professionals. Patria is owned by the State of Finland (50.1%) and Norwegian Kongsberg Defence & Aerospace AS (49.9%). Patria owns 50% of Norwegian Nammo, and together these three companies form a leading Nordic defence partnership.

Kongsberg is an international, knowledge-based group delivering high technology systems and solutions to clients within the oil and gas industry, merchant marine, defence and aerospace. Kongsberg has 7 000 employees located in more than 25 countries and total revenues of NOK 14.5 billion in 2017.

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