Phoenix Aviation (Kenya) (PHN, Nairobi Wilson) has been acquired by Frontier Services Limited, a wholly-owned subsidiary of Hong Kong-based DVN (Holdings) Limited, in a deal valued at USD14million.
In a statement, DVN said the acquisition of Phoenix and its aviation assets accelerates its objective of becoming a pan-African secure logistics and transportation provider to multinational and local corporations active in exploration and mineral resources operations, as well as to governmental and non-governmental organizations.
Mr. Gregg Smith, Chief Executive Officer of DVN, said: "The founders of Phoenix are some of the pioneers of the legendary Kenyan aviation sector. By selling the business to us they are trusting that we will take it into our family of companies, where we will work with their very experienced and talented operating team, to expand the fleet and its maintenance operations. We are delighted to extend our presence within the Kenyan aviation and business communities."
Through the transaction, Phoenix will become a subsidiary of DVN.
DVN also holds a 49% stake in Kijipwa Aviation Limited, another Kenya-based aviation and logistics provider.
Phoenix has operated throughout Africa from its headquarters at Wilson Airport in Nairobi, Kenya since 1994. The company's principal business activities include regional cargo and passenger flights, MRO operations, search and rescue operations, air ambulance services, and VIP transport. It operates a diverse fleet of Cessna Aircraft Company (Wichita Cessna Aircraft Field) private jets and props, Beechcraft turboprops and a Eurocopter AS350 B3.
