Leonardo has signed a contract with Lynwood (Schweiz) AG to acquire 100% of the Swiss helicopter company Kopter Group AG (Kopter). With this decision Leonardo will be able to strengthen its international leadership in the helicopter field, benefiting from innovation and new engineering skills developed by a young and dynamic company. The new Kopter SH09 single-engine helicopter currently under development fits perfectly into Leonardo's product range, offering opportunities for future further technological developments. The skills of the Swiss company will allow accelerating the development of revolutionary technologies, new mission capabilities and greater performance, including solutions for hybrid / electric propulsion. This acquisition will replace the investments aimed at the development of a new single-engine helicopter already foreseen in the Plan. Kopter will act as an independent legal entity and center of expertise within Leonardo's Helicopter Division and in close coordination with it.
The purchase price, on a cash free / debt free basis, includes a fixed fee of $ 185 million and an earn out mechanism linked to specific goals in the life of the program, starting from 2022. The contract is subject to specific conditions and the operation will be completed by the first quarter of this year.
Alessandro Profumo, CEO of Leonardo, said: “With this agreement we confirm our commitment to strengthening Leonardo's core business, in support of our leadership in key sectors. With this acquisition we will introduce pioneering skills and technologies that will help keep us at the top of innovation and competitiveness, while ensuring our financial solidity ".
Gian Piero Cutillo, Managing Director of Leonardo Helicopters, added: “We are proud to welcome this innovative company as an integral part of our strong global helicopter business. The product developed by Kopter fits perfectly into our product portfolio and will greatly benefit from our industrial know-how and from our sales and service network ”.
Marina Groenberg, CEO of Lynwood, said: “We are proud of the strong support we have given to the development of Kopter and its SH09 program over the past decade. Considering the progress of the program, this is the best time for Leonardo to proceed with the acquisition ".
Andreas Loewenstein, CEO of Kopter, said: “It is extraordinary to have a solid player like Leonardo as our industrial investor. By joining Leonardo we will get support to complete our development in many aspects, while remaining an innovative and efficient actor in the field of single-engine helicopters ".
For the finalization of the contract Leonardo was assisted by EY and Gatti Pavesi Bianchi. Lynwood was assisted by Hogan Lovells.
