Training services provider and simulator manufacturer CAE has agreed to a deal with investment firm Directional Aviation Capital (DAC) to be the exclusive training services provider to six DAC-owned business aircraft operators, as well as acquire for $85 million a 50 percent stake in Simcom Holdings, another DAC company that provides simulator-based training to pilots and mechanics. “Our investment in Simcom is another step in the expansion of CAE's business aviation training business that gives us access to a rapidly growing customer base as Directional Aviation affiliates' exclusive training partner for the next 15 years,” said CAE president and CEO Marc Parent.
The six DAC-owned companies under which CAE and Simcom will have an exclusive training agreement are Flexjet, Flight Options, Flairjet, Sirio, Nextant Aerospace, and Corporate Wings. Combined, these operators have a fleet of 175 business aircraft.
Another part of the agreement calls for Simcom to purchase equipment from Montreal, Canada-based CAE, including five full-flight simulators. “We have a clear vision for Simcom's future as an innovative training provider focused on the owner-flown market, as well as fleet operators,” Simcom president and CEO Eric Hinson said. “We are extremely pleased to partner with CAE and leverage its industry-leading technology and training expertise to better serve our customers.” Headquartered in Orlando, Florida, with two training centers there, Simcom operates 47 simulators spanning jets, turboprops, and piston airplanes. It also operates training centers in Scottsdale, Arizona, and Humberside, UK.
DAC principal Kenn Ricci said his company’s holdings account for one of the largest business aviation fleets in the world, “and we plan on having significant growth in the future. With this partnership with CAE, our operators will have access to the latest solutions in aviation training from the industry leader.”