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Specialist staffing agency Resource Group Ltd and Lufthansa Technical Training GmbH have reached an agreement that as of close of business on 31 December 2011 Resource Group would acquire all the share capital in their Joint Venture Company, Lufthansa Resource Technical Training Ltd (LRTT) and take full control of the business.
On 1 January 2012 Lufthansa Resource Technical Training Ltd was rebranded as LRTT Ltd.
Resource Group and LRTT will be maintaining their close ties with Lufthansa Technical Training GmbH (LTT) via Cooperation and Licensing Agreements which will see both organisations continue to utilise their respective strengths and expertise to support each other in the delivery of training services and products where required.
Resource Group and Lufthansa Technical Training set up LRTT as a joint venture in 2003. Since this time LRTT has established itself as a provider of EASA Part 147 approved fundamentals training. A UK CAA approved company, LRTT provides EASA Part 66 Category A1, A3, B1.1, B1.3 and B2 courses to aircraft engineers and is based at the Cotswold Airport in the UK at a purpose built training facility which includes a maintenance hangar.
LRTT is a strategic investment for Resource Group and will join its Air Traffic Control, Electronic Warfare and UAS training businesses in delivering quality training to the aviation and aerospace markets.
John Larkin, Managing Director at Resource Group commented "we plan further investment in LRTT during 2012 which will lead us to increase the scope of LRTT services supplied and the geographic markets served. We will be working closely with the staff at LRTT to integrate the training school into our group of companies during 2012."
Ian Fitzpatrick, LRTT General Manager, added "LRTT has firmly established its brand and reputation in the civil and military aviation training sectors and the ability to train engineers for helicopters as well as fixed wing aircraft further diversifies the LRTT portfolio. This exciting development and the faith shown in the LRTT model by the shareholders of Resource Group represents an excellent opportunity to grow the service offering and the business both locally and Internationally."
Deal metrics were not made available.