2013 APRIL / Vol. 5 / No. 4 /
GA
11
During February this year NAC
announced the consummation
of the transaction announced
last year in which a Global
Capital consortium, including
management team members,
have bought out the 62% Imperial
Holdings shareholding in NAC.
Since its inception in
1946, NAC has remained a
leading player in the general
aviation sector in Africa and
imperial Holdings has been
the major shareholder in the
business since 1999. This
transaction concludes the sale
of the last aviation asset in the
Imperial Holdings portfolio.
Describing the transaction,
NAC CEO Martin Banner
commented, "It was a matter of
time before Imperial Holdings
exited the aviation space in
totality, following the sale of
Safair and Naturelink over
the past several years. This is
a win, win, win transaction
for Imperial Holdings, Global
Capital and the management
team. We are very excited
about the value that will be
added by our new shareholders.
Larry Nestadt will take over
as chairman of the board from
John Newbury, who remains a
shareholder and board member.
John has been a great chairman
and we are delighted to retain
his skills. We welcome Larry
and the new board members
and look forward to a fantastic
partnership as we continue
our uninterrupted profitable
trajectory of the last 67 years"
Established in 1995, Global
Capital (Pty) Limited is a
boutique Investment Banking
and Private Equity firm based
and operating in South Africa as
well as in Australia. Shareholders
of Global Capital include
Management and Investec
Bank Group. Global Capital
manages various funds, both
in South Africa and abroad
on behalf of institutional and
select private investors.
"Global Capital is excited to
be part of an established business
of the stature and heritage of
NAC. We have a passion for the
aviation industry and have been
involved in different aviation
businesses over the years.
NAC is a well-run business
and we appreciate the fact that
management have co-invested in
our consortium. We look forward
to adding value and working
together with management to
take the business to the next
level" says Larry Nestadt. ·
National Airways Corporation announces
new shareholders
Above L/R: Hennie Smit, Attie Niemann, Redmond Fowle, Gary Phillips,
John Newbury, JP Fourie, Ross Hollingworth, Andrew Dunn,
David Vinokur, Tertius Van Jaarsveld and Martin Banner.
Inset: The Chairman, Larry Nestadt.
Cessna Aircraft has announced the planned
expansion of the company's worldwide sales
force by nearly 50 percent. As part of this
effort, the company is placing an emphasis on
decentralized satellite offices in global markets
where Cessna's presence is well established or
where the company sees opportunity for growth.
"This move is another example of how
Cessna is investing in the future. With the
largest installed base of aircraft of any general
aviation manufacturer, it is imperative that both
current customers and those new to aviation
have ready access to our team of experts
before, during and after the acquisition of their
aircraft," said Scott Ernest, Cessna's president
and CEO. "Just as we've put an emphasis on
our investments with new products and our
global service network, we are continuing to
invest in our people and their connections with
our valued customers around the world."
This expansion means Cessna is now hiring
qualified sales personnel to complement the team
of professionals already in place. A full listing of
career opportunities can be found at Cessna.com. ·
Cessna Expands Global Sales Force