PA Consulting Group has signed an agreement to acquire Nyras Limited, the international aviation consultancy. Nyras is the only consultancy in the air transport industry authorised by the Financial Conduct Authority (FCA) to undertake commercial and transactional advisory services in the aviation sector. Nyras will bring new capabilities to PA, and enable the global aviation team to offer additional support to an industry facing significant change and disruption.
Chris Lynch, who leads the Transport, Travel and Logistics business at PA Consulting Group, comments: “This agreement will further enhance PA’s offer to new and existing clients particularly in the areas of complex strategic and operational change and business restructuring in aviation. It will also complement our developing position in the related Aerospace and Defence industries, led by Richard Deakin. Nyras offer deep expertise in areas of increasing market significance, such as slot transactions, leasing management and fleet advisory, including financial advisory services, authorised by the FCA. Clients include international airlines, such as British Airways, Finnair, Etihad, Flybe, TUI Travel and Aer Lingus, as well as other industry leaders, ranging from Dubai Airports through to Amadeus IT Group and the Saudi General Authority of Civil Aviation. When you add Nyras’ strategic capabilities and deep industry knowledge to our existing strength and breadth, we have an industry-leading offer to our clients”.
Nyras CEO Richard Davey, who will join PA to lead the new Aviation business, comments: “We see this as a tremendous opportunity to forge a distinctive partnership; combining two highly experienced global industry teams and capitalising on the wide ranging resources and technology know-how that PA already offers the sector. We believe that our cultures are extremely compatible, enabling the combined team to be successful for current and future clients. The new partnership gives Nyras the opportunity to scale up its operations and be part of PA’s highly regarded aviation business. Nyras clients will benefit from broader expertise in the aviation consulting areas where PA have already developed an extensive track record”.
CLOSING LEGAL STATEMENT
Completion of the acquisition is subject to customary closing conditions. Terms of the deal were not disclosed.