13 December 2016

Air Partner plc

Acquisition of Clockwork Research Limited

Air Partner plc, the global aviation services group, is pleased to announce the acquisition of Clockwork Research Limited ("Clockwork Research"), a leading Fatigue Risk Management consultancy (the "Acquisition").  

The Acquisition is being funded from Air Partner's existing cash resources and is expected to be earnings enhancing in its first full year of ownership. In its unaudited results for the year-ended 30 June 2016, Clockwork Research reported revenue of £707,000.

The Acquisition is aligned to Air Partner's strategic plan and Clockwork Research will become part of the group's Consulting & Training division alongside Baines Simmons.  

Clockwork Research was founded in 2005 by Paul Jackson PhD MSc BSc and Alexandra Holmes PhD BSc Hons and has grown to become a recognised leader in the specialist area of Fatigue Risk Management Systems, combining a scientific understanding of the impact of human fatigue on safety-critical operating environments with extensive industry experience and an appreciation of commercial realities. 

Clockwork Research delivers innovative and effective Fatigue Risk Management solutions for clients across various sectors of the aviation industry, including commercial air transport, business jets, cargo operations, air medical and search and rescue services, as well as regulatory authorities. In addition to projects in the aviation sector, over the last 11 years Clockwork Research has expanded its project activities into other safety-critical operating environments such as the Oil & Gas and Mining sectors. 

Clockwork Research customers include Aer Lingus, Air Astana, Air France, BA CityFlyer, BP, Cathay Pacific, Civil Aviation Authority, CHC, easyJet, Flybe, Jet2.com, Newmont Mining, Norwegian Air Ambulance, Norwegian Airways, Qatar Airways, REGA, Repsol Sinopec, Shell, Southwest Airlines, TAP Portugal, Titan Airways, TNT, Trans-Maldivian Airways, Virgin Atlantic, and Wizz Air, plus other corporate and commercial entities, regulatory bodies and government organisations across various sectors.

Mark Briffa, Chief Executive of Air Partner, said: "I am delighted to welcome Paul, Alexandra and the rest of the Clockwork Research team to Air Partner. Clockwork Research has a fantastic reputation in the specialist field of Fatigue Risk Management Systems and is well placed to work closely with Baines Simmons, our Aviation Safety Consulting & Training experts, enabling Air Partner to further enhance and extend the services and advice it offers its clients. We look forward to supporting the team in the years ahead as they work for customers around the world to address and improve a critical element of day to day operational safety risk." 

Managing Director Dr Paul Jackson and Research Director Dr Alex Holmes said: "We founded Clockwork to help our clients manage fatigue risk by providing practical solutions, supported by high quality research. Eleven years later we have worked with over 50 airlines and provided training to many more. The whole Clockwork team is really excited to be joining the Air Partner group, which will enable us to enhance our offer to our clients and meet the increasing demand for our services we anticipate in the coming years."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/ 2014.

ENDS

About Air Partner:

Founded in 1961, Air Partner is a global aviation services group that provides worldwide solutions to industry, commerce, governments and private individuals. The Group has two divisions‎: (a) Broking division, comprising air charter broking and remarketing through the Air Partner and Cabot brands respectively; and (b) Consulting & Training division, via the aviation safety consultancy Baines Simmons. For reporting purposes, the Group is structured into four divisions: Commercial Jets, Private Jets, Freight (Broking) and Baines Simmons (Consultancy & Training). The Commercial Jet division charters large airliners to move groups of any size. Cabot Aviation, which is formed within the Commercial Jet division, provides comprehensive remarketing programmes for all types of commercial and corporate aircraft to a wide range of international clients. Private Jets offers the company's unique pre-paid JetCard scheme and on-demand charter. Air Partner Freight charters aircraft of every size to fly almost any cargo anywhere, at any time. Baines Simmons is a world leader in Aviation Safety Consulting which specialises in aviation regulation, compliance and safety management. Air Partner is headquartered alongside Gatwick airport in the UK. Air Partner operates 24/7 year-round and has 20 offices globally. Air Partner is listed on the London Stock Exchange (AIR) and is also ISO 9001:2008 compliant for commercial airline and private jet solutions worldwide.  www.airpartner.com

About Clockwork Research:

Founded in 2005 by Paul Jackson PhD MSc BSc and Alexandra Holmes PhD BSc Hons, Clockwork Research is a leading fatigue risk management consultancy. Clockwork Research delivers innovative and effective fatigue risk management solutions for clients across various sectors of the aviation industry, as well as other safety-critical operating environments, such as the Oil & Gas and Mining sectors. The company's approach is founded upon a scientific understanding of the impact of human fatigue on safety-critical operations, combined with extensive industry experience and an appreciation of commercial realities. The Clockwork Research team comprises a core group of experienced professionals (psychologists, physiologists and safety professionals) based in London, who are supported by experts in in the USA, Europe, Middle East and Australia. Clients include Aer Lingus, Air France, BA Cityflyer, BP, Cathay Pacific, Civil Aviation Authority, CHC, easyJet, Flybe, Newmont Mining, Norwegian Air Ambulance, Qatar Airways, REGA, Repsol Sinopec, Shell, TAP Portugal, TNT, Trans-Maldivian Airways and Virgin Atlantic. Clockwork Research was acquired by the Air Partner group in December 2016 and sits within its Consulting & Training division alongside Baines Simmons. www.clockworkresearch.com