Shannon Technical Services acquires Maltese aviation firm
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Aviation company Shannon Technical Services (STS) has acquired Maltese firm, Part 21 Design International for an undisclosed amount.
Founded in 2019, the Shannon company specialises in managing aircraft transitions, redeliveries, engine management and materials and logistics management for global aircraft lessors and airlines.
In 2021, the company announced ambitious expansion plans including the creation of 80 new jobs, which brought the total workforce of STS to 180 by the end of last year.
Aiming to expand even further, the aviation firm has completed the 100% purchase of Malta-based Part 21, with STS chief executive, Ben Whelan remaining in his role across the two companies.
"We will add 15-20 positions in the first year and 20-25 positions in the second year," said STS following the transaction. "We see significant market opportunities for STS and Part 21 especially given the current competitor landscape."
Part 21 specialises in the creation and supply of paint and decals as well as repairs to the aviation industry.
Speaking on the deal, Flynn O'Driscoll, who acted on the deal for STS it was "delighted to act for Shannon Technical Services on their strategic acquisition," adding that it will "introduce growth plans for Part 21 including expanding operations in both Malta and Shannon and creating upwards of 40 jobs in the next 2 years."