UK-listed private equity firm 3i and its minority buyout partner Star Capital have made four and a half times their money after agreeing to sell SR Technics, an aircraft services company.

Dubai-based Istithmar, Abu Dhabi-based Mubadala Development and Dubai Aerospace Enterprise have acquired Zurich-based SR Technics for SFr1.4bn (€1bn). SR Technics is an independent provider of overhaul and repair services for aircraft, components and engines.