Milbank LLP has advised the shareholders, notably Munich-based family office SFO and also the reinvesting member of management, on the sale of Nayak-LM GmbH and its subsidiaries (“Nayak” or “Nayak Group” or “Nayak Aircraft Services”) to Chequers Capital and on an agreed co-investment of Nayak’s management team. The transaction is subject to regulatory approval and expected to close in Q1 2024. Nayak Aircraft Services is a leading independent European aircraft safety and line maintenance provider generating EUR 120 million in revenues with 1000+ employees active across 50+ airport stations. Milbank comprehensively advised the shareholders and Nayak’s management team on the corporate and tax aspects of the transaction. The Milbank team was led by partner Michael Bernhardt (Corporate/M&A) and included partners Matthias Schell (Tax) and Alexander Rinne (Antitrust) as well as special counsel Sebastian Dexheimer and associates Sarah-Maria Resch, Leonard Mittmann, Josephine Schuster (all Corporate/M&A) and Nils Bremer (Antitrust).