Leonardo announced that it has signed a contract with Lynwood AG to acquire 100% of Kopter Group AG, which is based in Mollis in the canton of Glarus. The acquisition will allow the Italian helicopter manufacturer to “further strengthen its worldwide leadership and position in the rotorcraft sector”.
Leonardo calls Kopter’s SH09, a new single-engine helicopter, a “perfect fit” for its state-of-the-art product range, adding that Kopter’s expertise will also help drive “future developments towards more disruptive technologies”, including hybrid/electric options. The acquisition will also now replace a planned investment aimed at developing a new single-engine helicopter.
“With this acquisition, we will bring on board innovative skills and technologies that will complement our own and will also contribute to keeping us at the forefront of innovation and competitiveness while maintaining our financial solidity,” says Leonardo CEO Alessandro Profumo.
Kopter will act as an autonomous legal entity and competence center within Leonardo’s helicopter division.
The purchase price consists of a $185 million fixed component plus an earn-out mechanism linked to certain milestones starting from 2022. The transaction is expected to close during the first quarter of 2020.
According to Martin Groenberg, CEO of the Zurich-based Lynwood AG, now is the right time for Leonardo to take over Kopter “as they are a perfect match for Kopter at this stage of development”.
Andreas Löwenstein, Kopter’s CEO, is excited to have gained such a solid industrial investor. “Within Leonardo, we get the support to finalize our development on various fronts while keeping the ability to remain the agile single-engine pioneer that we are.