Private equity firm New State Capital Partners has acquired Avex, an authorized distributor and recommended service center of Daher TBM turboprops in the southwestern U.S. With locations at Camarillo Airport in California and Rocky Mountain Metropolitan Airport in Broomfield, Colorado, Avex was founded in 1985.
“Avex has been my life’s work, so selecting the next owner of the business was not a task I took lightly,” said president Terry Winson. “From our first interaction, New State clearly stood out as the best partner for Avex.”
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
New State Capital senior principal Daniel Han said the acquisition serves as the launch platform for the firm’s investment in the aviation industry. “Avex was an ideal anchor investment for this strategy, due to the strength of the business Terry and the team have built,” said Han. “Given the strong and enduring trends within business and general aviation, we see exciting growth potential across the sector, and for Avex in particular. We look forward to partnering with the team to further build on Avex’s legacy of excellence and will be actively seeking additional acquisitions within the space.”
Source: AIN Online
Can’t stop reading? Read more
BNP Paribas gathers €540m for GP stakes strategy targeting private capital managers
BNP Paribas gathers €540m for GP stakes strategy targeting private capital managers BNP Paribas...
Carlyle plans structured financing to seed flagship Carlyle Partners IX fund
Carlyle plans structured financing to seed flagship Carlyle Partners IX fund Carlyle is exploring...
CVC secures €3.7bn financing for Global Sport Group backed by KKR and Pimco
CVC secures €3.7bn financing for Global Sport Group backed by KKR and Pimco CVC Capital Partners...