CAE and DAC join forces on training venture
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CAE has entered into an $85 million strategic partnership with corporate aviation service company Directional Aviation Capital (DAC).
CAE will acquire a 50 percent stake in SIMCOM Holdings and form a joint venture with DAC affiliate, Volo Sicuro.
In addition, DAC's affiliated business aircraft operators, including Flexjet, Flight Options and Corporate Wings, will enter into a 15-year exclusive training services agreement with SIMCOM and CAE.
The aircraft operators have a growing fleet of approximately 175 business aircraft.
"(It) is another step in the expansion of CAE's business aviation training business," said CAE President and CEO Marc Parent.
"(It) gives us access to a rapidly growing customer base as Directional Aviation affiliates' exclusive training partner for the next 15 years."
SIMCOM, headquartered in Orlando, Florida, currently operates 47 simulators. It has two training centers in Orlando as well as facilities in Scottsdale, Arizona, and Humberside, United Kingdom.
As part of the deal, SIMCOM will purchase equipment from CAE's latest product offering, including five full flight simulators. The transaction is subject to customary closing conditions.
"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," said Eric Hinson, President and CEO, of SIMCOM.
"We are extremely pleased to partner with CAE and leverage their industry leading technology and training expertise."
