CAE has finalized its 50 percent acquisition of Simcom from Directional Aviation Capital (DAC), some two months after the deal was announced, the companies said today. Under the $85 million deal, for the next 15 years CAE will also be the exclusive training services provider to six DAC-owned business aircraft operators: Flexjet, Flight Options, Flairjet, Sirio, Nextant Aerospace, and Corporate Wings. Combined, these operators have a fleet of 175 business aircraft.
Another part of the agreement calls for Simcom to purchase equipment from Montreal, Canada-based CAE, including five full-flight simulators. Two weeks ago at NBAA-BACE, Simcom said it has purchased five CAE full-flight simulators (FFSs) and flight training devices (FTDs) for the Gulfstream G650, Bombardier Challenger 350, and Embraer Phenom 300 and Legacy 500. Simcom plans to install these FFSs and FTDs in a new training center that is under development in Lake Nona, Florida.
"CAE's investment in Simcom along with our new long-term partnership will allow us to realize our vision of creating industry-leading training solutions for private aviation," said DAC principal Kenn Ricci. "CAE provides access to technology and training expertise that will allow us to better serve both internal and external customers."
According to CAE president and CEO Marc Parent, this partnership will further strengthen his company’s position in the business aviation training market.