Grob backer now majority owner

 - October 9, 2006, 5:56 AM

Executive Jet Investments (EJI), the Swiss-based group of investors that has had a 50-percent stake in the Grob SPn Utility light business jet, has now acquired a controlling stake in the German manufacturer for an undisclosed sum. Grob will also not disclose the exact size of EJI’s holding, so it is not clear how large a stake the Grob family might have retained. Zurich-based EJI has been renamed Grob Aerospace AG and is now effectively the holding company for the manufacturer, which is headquartered near Munich. Niall Olver, who led EJI’s initial investment in the Grob SPn Utility program last year, is now CEO of Grob Aerospace. The SPn Utility was announced at the 2005 Paris Air Show, and the company is aiming to complete European and U.S. certification by the end of next year.