Guangzhou Hangxin Aviation Technology’s full acquisition of Magnetic MRO has earned a high recognition in the Baltic States.
The partnership that was formed in the beginning of 2018 was recognized during the annual Baltic M&A and Private Equity Forum 2018, this time held in Tallinn, Estonia from October 18th – 19th. As part of the networking event, four awards were handed out during the Baltic M&A and Private Equity Awards Ceremony.
Hangxin’s acquisition of Magnetic MRO won the award of the Baltic M&A Deal of the Year 2018. The deal was valued at EUR 43.17 million and provides an opportunity for Magnetic MRO to expand into Asia.
In its category, Hangxin and Magnetic MRO beat out Erimitazas UAB’s acquisition of Bauhof Group AS; and Vienna Insurance Group AG’s acquisition of Seesam Insurance AS.
Magnetic MRO’s CFO Astrit Viisma-Kass was on hand at the event to accept the award.