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.”
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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
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