Jet Edge International Raises $60 Million
Leading Aviation Services Platform Receives Strategic Investment from Solace Capital Partners to Support Continued Growth
VAN NUYS, Calif., Feb. 28, 2019 /PRNewswire-PRWeb/ -- Jet Edge International, a leading aviation services platform and top ten charter operator in the United States, today announced it has raised $60 million in equity and debt that will be used to fund a number of strategic initiatives. The investment round was led by Solace Capital Partners, a Los Angeles-based private equity firm.
Jet Edge has grown significantly over the past several years and currently manages a fleet of more than 50 large-cabin and super-midsize aircraft, including Bombardier, Dassault, Embraer, and one the world's largest collections of Gulfstream jets. After moving into its brand-new headquarters last year in the heart of the Van Nuys Airport, complete with two modern hangars and state of the art offices, Jet Edge recently expanded in New Jersey's Teterboro Airport, adding 40,000 square feet of hangar space and 4,000 square feet of office space. The company will use the proceeds of this investment to continue its growth by building out additional infrastructure in both new and existing markets, as well as by offering additional value-added services to its aircraft owners and charter clients.
"The new partnership between Jet Edge and Solace Capital is about continuing our commitment to offering our clients the highest levels of service and safety," said Jet Edge CEO Bill Papariella. "With a strong position in key markets including Southern California, Florida, and the New York metropolitan area, we are excited to continue to build our footprint and portfolio of services for our customers, and are thrilled that Solace Capital supports our vision of becoming a global force in the industry."
"Jet Edge is a market leader in private aviation and is well-positioned within the fastest-growing segments of the industry," said Christopher Brothers, Managing Partner at Solace Capital. "We are pleased to support the company through its next phase of growth."
Jefferies LLC served as the exclusive financial advisor to Jet Edge. Michelman & Robinson LLP served as legal advisor to Jet Edge and O'Melveny & Myers LLP served as legal advisor to Solace Capital.
About Jet Edge International
Jet Edge International is a premier aviation management platform that provides a full suite of services to aircraft owners, including flight operations, charter services, in-house maintenance and repairs, and assistance with aircraft sales and acquisitions. The company currently manages a fleet of more than 50 large-cabin and super-midsize aircraft for both corporations and ultra-high net worth individuals. Jet Edge is a Top 10 charter operator in the United States and adheres to the three most prominent safety standards in the industry: ARG/US Platinum Rating, Wyvern Wingman Recommendation and the International Standard for Business Operations (IS-BAO) Stage 3 certification. The Company currently employs more than 425 employees and is based in Van Nuys, California. For more information please visit: http://www.flyjetedge.com.
About Solace Capital
Solace Capital is a private investment firm focused on constructive investing in lower-middle market companies in the United States and Canada. Solace Capital provides flexible equity and debt solutions for established businesses and seeks to leverage its extensive expertise to provide financial stability, lead operational improvements and drive performance growth in its portfolio companies while generating attractive risk-adjusted returns for investors. Solace Capital's principals have on average 25 years of relevant investing experience across various sectors and invested over $5 billion across over 100 companies. Launched in 2014, the firm has approximately $640 million of assets under management with offices in Los Angeles and New York. For more information please visit: http://www.solacecap.com.
SOURCE Jet Edge
Share this article