Patria sells its shareholding in Engines Service Partners Svenska AB

Recently Recotech AB has acquired GSE Partners AB and its subsidiary ES Partners Svenska AB (ESP). All three companies have a common history and heritage in the aviation industry, and are located in Arboga Science Park in Sweden.

Connected to this ownership change Patria has sold its minority shareholding of 19.9% of ESP to Recotech AB. ESP offers tailor-made services in engine life cycle support and is active in small aero-engine maintenance, employing currently 12 highly skilled specialists.

Patria welcomes the Recotech full ownership of ESP with satisfaction as it will give synergy effects and power to growth for the company and gives also a wider range of services and offers to customers. Patria is looking forward to working in close cooperation with the new Recotech Group as a reliable service provider in the Nordic region.                                                                                   

Patria is a defence, security and aerospace group with international operations delivering its customers competitive solutions based on own specialist know-how and partnerships. Patria is owned by the State of Finland and the European Aeronautic Defence and Space Company EADS N.V.

Recotech AB apply repair and manufacturing techniques from the aircraft engine maintenance  industry and make them useful and profitable for a greater number of types of industrial applications, such as the power generation, offshore and manufacturing industry. Recotech can support customers with manufacturing of complete components and equipment, improving existing components, as well as carry out complete repairs and overhauls.

Contact persons:

Patria
Mr Lassi Matikainen, President, Aviation                
Mobile: +358 40 869 3351

Recotech AB
Bo Martin Tell, CEO and owner                                 
Mobile: +46 76 78 11  500