CAE has acquired Oxford Aviation Academy (OAA), an industry-leading provider of aviation training and crew sourcing services for C$314 million.

This acquisition strengthens CAE's leadership and global reach in civil aviation training by increasing its training centre footprint, growing its Ab-Initio flight training network and extending its portfolio by adding OAA's Parc Aviation, the global leader in pilot and maintenance crew sourcing for airlines and leasing companies.

“We are very excited about this acquisition as it enables us to offer our customers more locations and additional training capacity as well as a new service for pilot and maintenance crew sourcing. We have greatly enhanced CAE's industry-leading position with the addition of two of the industry's strongest brands in Ab-Initio aviation training and crew sourcing: Oxford Aviation Academy and Parc Aviation,” said Marc Parent, CAE's President and CEO.

“Civil aerospace market fundamentals are strong and we are increasing our position at an opportune time. With this acquisition, CAE responds to market demand with an increased footprint and a complete end-to-end solution for commercial aviation,” he added.

The acquisition strengthens CAE's position in capturing the long-term and growing market demand for aviation professionals.

Oxford Aviation Academy (OAA) had revenues of approximately C$280 million during CAE's fiscal year 2012 and the purchase price represents approximately 9 times OAA's EBITDA during the same period. The acquisition will be accretive to CAE's earnings in fiscal year 2014.

CAE has financed the acquisition with a new senior unsecured credit facility.