Bakers, CC handed SR technics sale roles

Baker & McKenzie and Clifford Chance acted in the SFr1.6bn (£690m) sale of technical services company SR Technics. A provider of technical services to aircraft, Zurich-based SR Technics was originally a subsidiary of Swissair, but was sold to private equity houses 3i and Star Capital in 2002. In the latest deal 3i and Star Capital sold SR Technics to a consortium of United Arab Emirates investors, including Mubadala Development and Dubai Aerospace Enterprise (DAE). Bakers acted for 3i and Star Capital, led by Zurich private equity partner Marcel Giger. Clifford Chance advised the consortium, led by private equity partner Simon Cooke. SR Technics' management was advised by Swiss firm Niederer Kraft & Frey and Cleary Gottlieb Steen & Hamilton.