The Mainport Innovation Fund has invested an undisclosed sum to take a stake in Netherlands-based flight simulation company Multi Pilot Simulations [MPS]. The company manufactures simulators of both Boeing and Airbus aircraft.
Mainport is backed by Netherlands-based airline KLM, Netherlands-based bank Rabobank, Netherlands-based airport operator Schiphol Group and the Technology University of Delft.
Guus Verhees, a fund manager at Mainport, said: "The founders of MPS have many years of experience in pilot training and in addition they have the right expertise to make MPS successful. The fact that recently four new B737 simulators were sold by MPS also indicates the market’s need for this type of simulator quality and price level. With our investment we want to assist in the final development of the A320 simulator and to accelerate the growth of the MPS organization."
Netherlands-based corporate finance practice Chestnut advised on the deal.
In March, the Mainport Innovation Fund sealed its first investment, buying a stake in air traffic monitoring company Casper for an undisclosed sum.