Montana Aerospace places new shares of approximately CHF152.3m

Montana Aerospace and its operating subsidiaries, a highly-vertically integrated manufacturer and supplier of system components and complex assemblies for the aerospace, e-mobility and energy sectors with worldwide engineering and manufacturing operations, have successfully placed new shares with gross proceeds of approximately CHF 152.3 million. 

A total of 5.4 million new registered shares were placed with international institutional investors, including qualified institutional buyers in the United States, in a private placement by way of an accelerated bookbuilding process. Subscription rights of the existing shareholders were excluded. The net proceeds from the share placement will be used to raise funds to be able to further accelerate organic growth and m&a activities. 

In connection with the cash capital increase, Montana Tech Components, the majority shareholder of Montana Aerospace, converted the major part of its outstanding hybrid loan in the amount of CHF 141.0 million into new Montana Aerospace shares. The new shares will be listed on the SIX Swiss Exchange. 

The advisors 

Walder Wyss acted as Swiss counsel and Listing Agent to Montana Aerospace. The team was led by Urs P. Gnos (corporate/m&a, pictured above), and further included Daniel Dedeyan (capital markets), Christian Hagen (corporate/m&a), Dzevrije Zendeli (corporate/m&a) and Jenny von Arx (corporate, m&a). 

Niederer Kraft Frey advised Joh. Berenberg, Gossler & Co KG in its capacity as Sole Global Coordinator and Joint Bookrunner and Commerzbank in its capacity as Co-Lead Manager and Joint Bookrunner. The NKF team was led by partner Till Spillmann (capital markets, pictured left), working with senior associate Deirdre Ní Annracháin and associate Corinne Russi (both capital markets).

In Germany, Montana Aerospace was advised by DLA Piper.