Simtech sells stake to private equity companies
New investors plan to expand scope of flight simulation and pilot training specialist firm
Simtech’s Bob Sheehan (right) in a flight simulator at the company’s Dublin Airport Logistics Park headquarters. Photograph; Dara Mac Dónaill
Simtech runs flight simulation and pilot training from a custom-built facility in Dublin Airport Logistics Park. A number of airlines, including Aer Lingus, use its service and it trains pilots from Ireland, Britain, Europe, the Middle East and Asia.
Mr Keogh, the company’s chief executive, confirmed on Monday that Renatus and Martello have taken a stake in the business. Its new investors want to expand the company by exploiting the current growth in aviation.
“We both wanted to ensure the business we had built was preserved and that any incoming partner would bring the necessary industry expertise and capital to scale the business and realise its full potential,” Mr Keogh said.
Martello specialises in aviation, leisure and property investments. Douglas Brennan, who has a background in aviation finance, established the company.