Ellex Raidla has advised Magnetic MRO, a global provider of technical care for aircraft operators and lessors, on a bonds issue worth a total of EUR 8 million.
According to Ellex, the capital raised by the bond issue will be used to acquire a competitor operating in the same industry and expand Magnetic MRO’s business. In February 2019 Nasdaq announced that the bonds of Magnetic MRO were admitted to trading to the Nasdaq Baltic First North by Nasdaq Tallinn.
Magnetic MRO CEO Risto Maeots commented: “Magnetic MRO has expanded rapidly in the last couple of years. Despite our fast growth, we hold a very small percentage of the global aircraft maintenance market and there is a lot of room for us to gain a bigger market share. Furthermore, our expansion plans are supported by the industry’s overall stable growth.”
Ellex Raidla’s team consisted of Partner Raino Paron and Senior Associate Helen Ratso.