November 29, 2019

Avia Prime, an investee company of Hartenberg Holding, has been announced as the winner of the privatization process for JAT Tehnika, the leading Serbian MRO company.

JAT Tehnika operates as dominant MRO (maintenance, repair and overhaul) provider at the Nikola Tesla Airport in Belgrade. In two hangars it operates 14 maintenance lines with the capability to accommodate also wide-body aircraft, including two parallel Boeing 747-400. JAT Tehnika capabilities include maintenance of Boeing 737 Classic, NG and MAX, Airbus A320 CEO, ATR 42/72 and Sukhoi RRJ 95 with respective engine shop and painting capabilities. In 2018 JAT Tehnika recorded revenues of 25m EUR and currently has more than 800 employees.

“We are glad that we will invest in JAT Tehnika and we can invite European airlines operators for maintenance to Belgrade. We see many opportunities coming from consolidating the MRO facilities in Europe. We can offer our customers more slots, in-house workshops, painting and capabilities for different aircraft checks, line maintenance in various locations. Aviation market changes constantly and the last two years in Europe show that only strong, modern and flexible MRO companies can withstand the swift changes on the market.” – says Piotr Kaczor, CEO if Avia Prime.

“We see how much we can do together and that’s why we are proud to enter Avia Prime Group. Cooperation with such a reputable European partner will provide for further infrastructural and technological development.” – adds Miroslav Musulin, Managing Director of JAT Tehnika.

“This is the first transaction for Hartenberg in Serbia. Entering a new market will open new opportunities for our other investee companies. With the acquisition of JAT Tehnika, Avia Prime builds up and will become one of the biggest independent MRO groups in Central and Eastern Europe. Using wide range of facilities and capabilities, we are flexible and able to provide complex scale of services for any European airlines” – said Dejan Kostić, Investment Manager, leading this acquisition at Hartenberg.

The transaction is subject to regulatory approvals. After finalization of the transaction, Avia Prime will consist of three independent MRO’s – Adria Tehnika located in Slovenia, JAT Tehnika in Serbia and Linetech in Poland. The combined portfolio of clients will consist of more than 100 airlines and operators. Total capacity will increase to 34 separate maintenance slots for narrow-body aircrafts. Avia Prime holds the certificates for Boeing 737CL, NG, MAX, Boeing 767, Airbus A320 CEO & NEO, CRJ Family, and Embraer 130, 145, 170, 190 along with business jet versions of the above. Some of the key customers include Lufthansa Group, Air France, SAS, Easy Jet, Finnair, Norwegian, Nordstar and TUI. Total hangar capacity in four locations (2x Poland, Slovenia and Serbia) is approximately 50 thousand square meters.  Avia Prime (without JAT Tehnika) should exceed 56 million EUR in sales in 2019 and employ more than 800.

About Hartenberg: www.hartenbergcapital.com

About JAT Tehnika: www.jat-tehnika.aero/en/

About Avia Prime: www.aviaprime.cz

Contact: info@hartenbergcapital.com