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Provo,
UT – April 2020 / Newsmaker Alert / Alpine
Air Express, Inc. (“Alpine” or the “Company”), a logistics and transportation
company providing regional air cargo services throughout the Mountain Western
region of the United States, announces that is has acquired 27 airplanes
and associated engines, propellers, spare parts and ground support equipment
from Great Lakes Airlines. Alpine is a portfolio company of AE
Industrial Partners, LP (“AEI”), a private equity firm specializing
in Aerospace, Defense & Government Services, Power Generation, and
Specialty Industrial markets. Terms of the transaction were not disclosed.
“This acquisition is highly
strategic for our Company, significantly expanding our market presence
and ability to serve our customers,” said Michael Dancy, CEO of Alpine.
“We are excited to grow our fleet, maintenance support and spare parts
availability while also utilizing our proprietary supplemental type certificate
(STC) to convert these acquired Beech 1900D aircraft into our expanding
cargo operations.”
“We partnered with Alpine
to help the Company solidify and grow its leading market position providing
regional air cargo transportation services,” said Jon Nemo, Senior Partner
at AEI. “This acquisition is a further testament to our strategy of building
our fleet and infrastructure to meet the growing demand for regional air
cargo transportation in our targeted geographies.”
Akerman LLP served as legal
advisor to AIpine.
About Alpine Air Express
Headquartered in Provo,
Utah, Alpine is a leading Part
135 air cargo operator with a long and distinguished history providing
its customers with safe and reliable air cargo transportation services
primarily throughout attractive growth markets in the Mountain Region of
the Western United States. Alpine operates a growing fleet of aircraft
and owns a proprietary Supplemental Type Certificate (“STC”) to convert
the Beechcraft 1900D aircraft from passenger configuration to cargo configuration,
making it the largest single pilot cargo aircraft in the world. For more
information, please visit www.alpine-air.com.
About AE Industrial Partners
AE
Industrial Partners is a private equity firm specializing in Aerospace,
Defense & Government Services, Power Generation, and Specialty Industrial
markets. AE Industrial Partners invests in market-leading companies that
can benefit from its deep industry knowledge, operating experience, and
relationships throughout its target markets. Learn more at www.aeroequity.com.
Contact:
Lambert & Co.
Jennifer
Hurson
845-507-0571
Kristin
Celauro
732-433-5200 |