Daher look to acquire Quest Aircraft CompanyJuly 16th, 2019 Comments Off on Daher look to acquire Quest Aircraft Company
Daher will acquire Quest Aircraft Company, manufacturer of the Kodiak utility aircraft.
In a major step to develop Daher’s airplane manufacturing business, the company is to acquire U.S.-based Quest Aircraft Company, which builds Kodiak 100 utility aircraft.
With this transaction, Daher strengthens two of its strategic pillars by: reinforcing its aircraft manufacturing business and consolidating the company’s leading position in the turboprop segment by widening the product family; and achieving a major milestone in the growth of its North American industrial and services operations.
The Kodiak 100 is a 10-seat, unpressurized, entry-level aircraft in the single-engine turboprop category. It originally was created for humanitarian missions in developing countries and is an agile and robust aircraft capable of operating on uneven and ultra-short runways, while offering optimal safety.
Certified in 67 countries and with more than 270 aircraft in operation, the Kodiak 100 is flown worldwide by air-taxi, recreational and leisure operators, along with businesses, pilot-owners and humanitarian organizations. To date, Daher has delivered some 940 TBM family aircraft to international owners and operators.
Quest Aircraft Company is situated in the U.S. state of Idaho and has a staff of 240 people. The company’s facility location is in the northern portion of Idaho, adjacent to Sandpoint Airport.
Through this major acquisition, Daher is enhancing its presence in the general and business aviation segment – with the Kodiak 100 joining its TBM 940 and TBM 910 very fast turboprop aircraft.
In addition to expanding Daher’s development and purchasing synergies, the Quest Aircraft Company’s acquisition offers excellent commercial, technological and geographical complementarities. With more than 150 years of know-how, Daher now intends to invest in Quest’s production platform to offer an enhanced services and sales network.
The family-owned Daher Group ultimately plans to develop synergies with the two aircraft product lines, introducing technologies and functionalities for Kodiak aircraft that have contributed to the successes achieved by the TBM.
“In addition to making Daher the world’s seventh largest aircraft manufacturer in business aviation, it provides us with our first industrial site in the United States, thereby reinforcing Daher’s position as a Tier-1 aerospace equipment and systems manufacturer, as well as a logistics and services provider,” explained Daher CEO Didier Kayat.
Patrick Daher, the Daher Chairman, added: “Quest was built on a foundation of values that are common to our two companies, with a focus on excellence and with the commitment to a high-quality, extremely robust product. As a powerful and maneuverable aircraft – used particularly for humanitarian missions that provide aid to isolated communities – the Kodiak 100 perfectly complements our TBM product range and is fully in line with Daher’s long-term vision as a company committed to the future of aviation.”
Quest CEO Robert Wells: The know-how of Quest and Daher opens the potential for rapid growth, with the combined operation becoming a key international player. Our teams share the values for craftsmanship and quality, as underscored by Quest’s motto: “Built by hand in Sandpoint, Idaho.”
The acquisition’s closing is expected to be completed by the end of 2019, subject to approval by the appropriate authorities in both countries.