Skyridge Aviation — Investment Highlights & Exit Strategy
The investment highlights, the projected returns including the 34.7% equity IRR and 4.44× money multiple, the 7.0× EV/EBITDA exit assumption and the exit pathways available to investors.
Section 14 · Business Plan
Investment Highlights & Exit Strategy
The investment highlights, the projected returns including the 34.7% equity IRR and 4.44× money multiple, the 7.0× EV/EBITDA exit assumption and the exit pathways available to investors.
14.1 Investment Highlights
Skyridge offers institutional and strategic investors a rare
combination of structural growth, capital efficiency and a clear path to
liquidity:
- Large, fast-growing, under-served market.
Regional business aviation compounding at 8–9% per year, anchored by the
continent’s deepest pool of private wealth and a premium-skewed tourism
recovery. - Capital-efficient growth engine. The
managed-fleet model delivers operating scale and fee income without
proportionate balance-sheet expansion, structurally lifting return on
invested capital. - Diversified, resilient revenue. Five streams
spanning discretionary and contracted demand smooth the cyclicality of
luxury travel. - Conservative, defensible financials. Fully
burdened earnings, peak leverage of 1.37x, a liquidity buffer above
$12.5m, and a Year 3 break-even with ~23% headroom. - Attractive returns. Base-case 4.44x equity
multiple and 34.7% IRR, with a downside that still returns
~2.39x. - Experienced leadership and institutional
governance. A post-holder-led team and board oversight built to
the standards institutional capital requires.
14.2 Indicative Investment Terms
The terms below are indicative and provided to frame discussion;
final terms are subject to negotiation, due diligence and definitive
documentation.
| Term | Indicative basis |
|---|---|
| Total funding sought | $30.0m ($18.0m equity + $12.0m senior debt) |
| Instrument | Ordinary / preferred equity; senior aircraft-backed debt |
| Use of proceeds | Certification, fleet, bases, working capital, contingency |
| Investment horizon | 5 years to liquidity event |
| Target equity return (base) | 4.44x MOIC / 34.7% IRR |
| Exit basis | 7.0x EV/EBITDA (trade sale, sponsor or recap) |
| Governance | Board seat(s); audit-risk & safety committees; reporting |
| Capital deployment | Milestone-gated tranches |
Table 26. Indicative investment terms (subject
to negotiation and due diligence).
14.3 Use of Proceeds
The $30.0m raise is deployed against the milestone-gated plan of
Section 12: certification and launch infrastructure, the first
owned-fleet tranche, base build-out, working capital and a $4.0m
contingency. Capital is matched to milestones rather than dates,
protecting investors against funding growth ahead of proven demand.
14.4 Exit Strategy
The Company envisages a five-year horizon to a liquidity event, with
several credible routes:
- Trade sale to a strategic operator.
Consolidation among African, Gulf and global business-aviation groups
provides natural acquirers seeking regional scale, fleet and AOC-backed
market access. - Sale to a financial sponsor. Private-equity and
infrastructure investors increasingly target cash-generative
aviation-services platforms with contracted revenue. - Recapitalisation. A debt or equity
recapitalisation could return capital to early investors while retaining
upside.
At the modelled 7.0x EV/EBITDA exit — conservative against recent
sector transactions — the base case implies an enterprise value of
approximately $89.6m and equity value of $79.9m. A track record of
audited financials, a registered safety-audit standard and a contracted
revenue base will all serve to maximise exit value and the universe of
potential acquirers.
control
Exit multiples in aviation services reward contracted, recurring
revenue, fleet quality, safety pedigree and management depth. Each is an
explicit objective of Skyridge’s operating plan — managed-fleet mandates
and mining contracts build recurring revenue, the safety-audit pathway
builds pedigree, and the governance structure builds management depth —
so the Company’s day-to-day execution is also its exit-value
strategy.
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Skyridge Aviation (Pty) Ltd.