PAI Partners, Fondo Italiano d’Investimento-backed PAI Partners and Fondo Italiano d’Investimento acquires Mecaer Aviation Group

The founding families of Mecaer Aviation Group are reinvesting alongside new backers PAI Partners and Fondo Italiano d’Investimento, which have signed a binding agreement to acquire the Italian aerospace supplier from Fondo Italiano Consolidamento e Crescita and Stellex Capital Management.

Headquartered in Borgomanero, Italy, Mecaer designs and manufactures flight-critical systems — including flight control, actuation and landing systems — for helicopters and business jets, alongside cabin interiors and maintenance services.

Revenue reached €242 million in 2025, roughly double the level when FICC invested in 2021, driven by organic expansion and selective acquisitions.

PAI is investing through its PAI Mid-Market Fund II, marking the fund’s second deal after environmental monitoring provider Orion.

Fondo Italiano is backing the transaction, its fourth investment.

The sponsors plan to work with CEO Marco Acca and Chairman Bruno Spagnolini to support the company’s presence on current and new aircraft platforms, pursue consolidation opportunities in aerospace, and expand in Italy, Europe and North America.

LGT Capital Partners is co-investing.

The sellers were advised by Lazard and KPMG Corporate Finance (financial) and Latham & Watkins (legal).

PAI and FII were advised by BNP Paribas and Mediobanca (financial), A&O Shearman (contractual/legal due diligence), Cleary Gottlieb (financing legal), New Deal Advisors (financial due diligence), Chiaravalli e Associati and Atoz (tax), BCG (business due diligence), Ramboll (ESG/EHS/climate due diligence), and Marsh (insurance due diligence and W&I).

The transaction is expected to close later this year following regulatory approvals.