Artá Capital acquires Aviaction to scale Spanish aircraft MRO ops

Artá Capital has reached an agreement with Buenavista Equity Partners to acquire 100% of the share capital of Spain's Aviaction — a transaction that marks Buenavista’s exit after more than five years of supporting the company’s development.

Buenavista’s involvement in Aviaction began in 2019 with the acquisition of AIRE, a firm specialized in the maintenance of commercial aircraft interiors. Since then, it has driven an ambitious buy & build project that incorporated Air Clean Textil and Servitec, thereby strengthening the group’s capabilities. The integration of Servitec represented a key milestone, as it significantly expanded the company’s line maintenance offering for aircraft.

The deal marks a clear commitment to scale a niche MRO platform focused on cabin interiors and line maintenance services, with implications for capacity, service quality, and airport network reach across Spain.

Aviaction, which operates under the AIRE and Servitec brands, brings more than 25 years in the business and reported approximately €27 million in 2024 revenue, a step up from 2019 levels. The company has built a robust line-maintenance footprint at key Spanish hubs, offering integrated cabin solutions that airlines rely on to minimize aircraft grounding time. The step to become a fully independent platform is expected to unlock deeper collaboration with major carriers and OEMs in Western Europe.

The investment is Artá Capital Fund III's fourth platform deployment since closing in late 2024 with around €400 million to back Iberian market opportunities. The family of AIRE and Servitec customers benefits from a strategic alignment with Aviaction’s leadership, who will continue to steer day-to-day operations. Juan Antonio Carrasco, Aviaction’s chief executive, will remain at the helm, guiding the next phase of growth as Artá Capital provides governance and capital for expansion, digitalization, and potential add-ons in the sector.

Advisory support for the sellers and buyers was provided by a cross-border team, led by Deloitte Corporate Finance for Artá Capital, with EY and Eversheds Sutherland adding transactional rigor. Buenavista Equity Partners engaged Greenhill and Mizuho, complemented by Deloitte Transaction Services and Addleshaw Goddard for diligence and closure processes. The involvement of premier advisory firms underscores the deal’s scale and its significance for the Iberian aerospace services ecosystem.

The deal aligns with a broader trend of consolidation in Spain’s aerospace maintenance and repair niche, where mid-market players seek scale advantages, improved asset utilization, and standardized service platforms. Aviaction’s cabin-maintenance and on-wing capabilities position it well to capture additional airline contracts and to pursue regional expansion, leveraging AIRE and Servitec synergies while integrating new service lines to support fleet diversity across carriers operating in Iberia and beyond.

From a market perspective, the transaction signals robust investor appetite for industrial services tied to aviation, particularly platforms with established airport footprints and a proven maintenance track record.