Maddocks acted for the founder of Australia’s largest private pilot training school, Soar Aviation, on the group’s 50 percent sale to Australian private equity investor The Growth Fund.
Soar Aviation was started in 2012 by current CEO Neel Khokhani and has more than 50 instructors and 43 planes based at three airport campuses: Moorabbin Airport and Bendigo Airport in Victoria and Bankstown Airport in New South Wales. Soar Aviation partners with the Box Hill Institute to provide the theoretical component of its flight training courses, as well as access to student funding.
The Growth Fund won a bidding process to purchase a 50 percent stake in Soar Aviation.
The Maddocks team advising on the matter was partner Greg Hipwell, senior associates Elizabeth Lilley and Viviane Karoumbalis and lawyer Jessica Leppert.
Maddocks also advised the founders and operators of the Manly Fast Ferry on their divestment of the company to NRMA, Australia’s peak road association.
We advised Richard and Will Ford, who under the deal will continue to hold an interest in the company and stay on in their respective roles as chief executive officer and chief operating officer.
Manly Fast Ferry operates a fleet of 10 vessels providing fast ferry services between Circular Quay and Manly, as well as regular ferry services to other locations such as Darling Harbour and Watsons Bay.
The Maddocks team on the matter was led by partner Andrew McNee and senior associate Julian Law, and involved experts from Maddocks Corporate & Commercial, Technology, Media & Telecommunications, Banking & Finance, and Employment, Safety & People teams across the firm’s Sydney and Melbourne offices.