Claret Capital involved in SRT bid

The Irish Times reports today that senior management at SR Technics in Dublin are believed to have joined up with private equity group Claret Capital to make a bid for some of the business at Dublin airport.

SRT's management are believed to be working on a plan which would save approximately 500 of the 1,100 jobs when the operation at Dublin ariport is shut by the Swiss parent in the coming months. Last week the team are believed to have approached Claret Capital who have been advising on a bid which would see SR Technics invest capital in the project - a sum equivalent to the redundancy payment of those concerned. An equity injection from Claret Capital hasn't been ruled out. Claret are 25% owned by the family of Senator Fergal Quinn and are behind JetBird, the proposed Very Light Jet (VLJ) taxi operator which intends commencing business out of Cologne later this year.

Both the IDA and Enterprise Ireland are understood to have hired an external consultant to evaluate upwards of 16 proposals received to date for parts of the SRT business.