Market Intelligence: -Investments and Acquisitions

Spanish Private Equity Firm Announces Major Acquisition of Spanish Flight Training Group

Madrid, Spain – Sherpa Capital, the leading private equity firm in Iberia, is pleased to announce that it has acquired 80% of FlyBy, one of the largest flight training groups in Spain.

This strategic investment marks the beginning of a new growth phase for FlyBy, with an ambitious expansion plan that includes both internationalization and inorganic growth, as well as strengthening its position as a leading training center.

Statement:

“We would like to thank Alex Alvarez for the trust placed in Sherpa Capital by choosing us as a strategic partner to drive the company’s future growth, as well as our advisors in this transaction: Grant Thornton España, Pérez-Llorca M&A and Squire Patton Boggs,” Sherpa Capital said.

About Sherpa Capital
Sherpa Capital, with over 14 years of experience, is a leading private equity firm in Iberia. Its investment strategy, Operational Value, focuses on mid-sized companies with strategic and operational challenges. It manages over 350 million euros, standing out for its model of sustainable value creation through business improvements. Its team of 40 experts with deep operational knowledge works closely with portfolio companies, employing a unique methodology that allows for the development of plans tailored to different challenges. This approach ensures the scalability and long-term evolution of businesses, positioning Sherpa as a benchmark in business transformation and value creation.

Source: Sherpa Capital
Photo Credit: Sherpa Capital

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US Aviation Academy Acquires Assets of Flyt Aviation in Atlanta, Georgia

United States based US Aviation Academy (USAA), one of the largest aviation and pilot training organizations in North America which recently announced it had already enrolled more than 500 aspiring pilots to its 2024 flight training courses, is pleased to announce its acquisition of the assets of Flyt Aviation, a well-established flight school based at Falcon Field in Peachtree City, Georgia.

This acquisition marks US Aviation Academy’s expansion into the greater Atlanta area, bringing its renowned flight training programs and industry expertise to a new region in response to increasing demand for skilled pilots.

Falcon Field (KFFC) is an ideal location for the expansion, providing a state-of-the-art facility in a vibrant aviation community. The acquisition of Flyt Aviation’s assets enables US Aviation Academy to offer a full range of flight training services, from Private Pilot Certificates to advanced commercial training, in the bustling Atlanta market. With this strategic move, US Aviation Academy aims to deliver top-tier flight instruction to local and international students, creating new opportunities for individuals pursuing professional pilot careers.

“This acquisition represents a significant step forward in our mission to expand access to quality aviation training nationwide,” said Mike Sykes, CEO of US Aviation Academy. “We are excited to bring our proven training programs and experienced instructors to the Atlanta area and to provide a new gateway for aspiring pilots in Atlanta Georgia and beyond.”

The new Atlanta campus at Falcon Field will initially operate under Part 61, allowing for flexible, personalized training schedules that can accelerate students’ paths to their goals. With Part 141 certification pending FAA approval, US Aviation Academy plans to expand its offerings to meet the needs of a diverse student population, including those seeking structured, accelerated career pathways and self-examining authority.

Through the integration of Flyt Aviation’s assets, US Aviation Academy reaffirms its commitment to innovation, safety, and excellence in aviation education. The Falcon Field location will benefit from US Aviation Academy’s extensive resources and expertise, providing students with access to well-maintained aircraft, advanced training technology, and a curriculum aligned with the needs of the modern aviation industry.

About US Aviation Academy
US Aviation Academy, headquartered in Denton, Texas, is a premier flight training and aircraft maintenance education provider, serving students from around the world. Known for its rigorous training programs, experienced instructors, and commitment to student success, US Aviation Academy offers a range of courses designed to meet the demands of the aviation industry. With locations across the United States, US Aviation Academy is dedicated to preparing the next generation of skilled pilots and aviation professionals.

Source: US Aviation Academy

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US Flight Training Group Expands Network with Acquisition of Flight School Assets in November 2024

Fort Myers, Florida, USA – Paragon Flight Training, an award-winning flight training academy based at Page Field in Fort Myers, Florida, has purchased the assets of AirVentures in LaGrange, Georgia, a flight training cornerstone in the region for more than 30 years. The announcement was made by Paragon Flight President Chris Schoensee and follows the company’s 2023 entrance into the Georgia market when it began a partnership with LaGrange College to offer the college’s first program in aviation.

“At Paragon Flight, our strategic expansion plans are guided by a solid cultural fit centered on a shared vision of excellence in flight training and locations rooted in growing regional markets – and AirVentures fits the bill on both counts,” Schoensee said. “It is an established and well-respected local flight training school in a burgeoning area of Georgia and the purchase is another milestone in our company’s 18-year history,” Schoensee said.

In May of this year, Paragon Flight announced its company-wide student enrollment was at an all-time high, and in September welcomed its first full-year class of students at LaGrange College pursuing a minor in aviation using Paragon Flight’s acclaimed Professional Pilot Program (P3). The program is specifically designed to allow students to pursue other majors while simultaneously preparing for dynamic careers.

“Our entrance into Georgia with the LaGrange College partnership opened our eyes to the tremendous potential in this part of the state. With its proximity to Atlanta and the strong interest in commercial aviation careers continuing unabated, we are bullish on the opportunity to integrate AirVentures operations into Paragon Flight and significantly bolster our flight training capacity here,” Schoensee said.

The purchase price remains confidential. A second AirVentures location in Columbus, Georgia, was not part of the acquisition. The LaGrange location will begin operating under the Paragon Flight Training brand effective December 1, 2024.

Paragon Flight now has three locations, with its headquarters in Fort Myers, Florida, and a Punta Gorda location that opened in 2023 at the Punta Gorda PDG Air Center. Per a previously announced long-term strategy to add 50 Piper aircraft by the end of 2027, Paragon Flight has added 9 new Piper P100i’s already this year, with the tenth arriving this month. With more than 30 Piper P100i aircraft currently in its fleet, Paragon Flight owns approximately 15% of the Piper P100i aircraft in existence, including the milestone 100th Piper P100i.

About Paragon Flight Training
Paragon Flight is an award-winning flight academy headquartered at Page Field in Fort Myers, Florida. Holding FAA and SEVIS accreditations, the company trains commercial, professional, and recreational pilots as well as offering military pilot training for domestic and foreign governments. With multiple locations in Florida and Georgia, Paragon Flight now has more than 34,000 square feet of training facilities in the South Eastern United States.

Source: Paragon Flight Training
Photo Credit: Paragon Flight Training (shown as meta image)

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Global Pilot Training Group CAE to Increase Ownership Stake in SIMCOM Aviation Training Joint Venture and Extend Exclusive Business Aviation Training Agreement with Flexjet and its Affiliates

CAE announced that it will increase its ownership stake in its existing SIMCOM Aviation Training (SIMCOM) joint venture by purchasing a majority of SIMCOM shares from Volo Sicuro for USD $230 million, subject to customary adjustments, to be financed with CAE’s existing credit facility and cash on hand. As part of the transaction, Flexjet, LLC, a related party of Volo Sicuro, will retain a minority stake in SIMCOM following the closing, expected to take place in the coming days.

Additionally, CAE and SIMCOM will each extend their respective exclusive business aviation training services agreement with Flexjet and its affiliates by 5 years. This results in a remaining exclusivity period of 15 years for both agreements.

This significant organic investment will further solidify CAE’s presence in its core business aviation training market, increase recurring revenue streams, and reinforce its commitment to delivering world-class training solutions in business aviation. Its long-term exclusive training agreement with one of the world’s leading luxury private jet companies gives CAE even greater exposure to the rapidly growing fractional jet and charter aviation market. CAE expects this investment to be accretive to earnings and free cash flow in the first full-year post transaction.

“We are delighted to increase our investment in this core area and achieve majority ownership of SIMCOM to strengthen our position in the business aviation market, as well as extend our long-standing partnership with Flexjet, one of the leading and fastest growing private jet companies,” said Alexandre Prévost, Division President, Business Aviation. “This highlights our commitment to continuing to drive innovation and provide industry-leading technology to better serve our business aviation customers.”

“CAE has been a great partner over the years, consistently providing high-quality training and delivering a superior customer experience to all of our pilots,” said Flexjet CEO Mike Silvestro. “With this agreement, Flexjet’s 1,400+ pilots will continue to have access to state-of the-art facilities and experience world-class pilot training, enabling us to further enhance our pilots’ quality of life, both on the road, and during a pilot’s recurrent training. As demand for highly experienced, highly skilled pilots continues to rise, best-in-class training is essential to maintaining Flexjet’s unmatched safety standards. We look forward to our continued relationship and collaboration with CAE and SIMCOM long into the future.”

SIMCOM currently provides pilot training across multiple business aviation aircraft platforms, leveraging CAE’s innovative suite of training equipment, including CAE 7000XR Series full-flight simulators (FFSs) and CAE 400XR Series flight training devices (FTDs). SIMCOM operates four training centres in the United States, including its most recent state-of-the-art facility in Lake Nona, Florida.

About CAE
At CAE, we equip people in critical roles with the expertise and solutions to create a safer world. As a technology company, we digitalize the physical world, deploying software-based simulation training and critical operations support solutions. Above all else, we empower pilots, cabin crew, maintenance technicians, airlines, business aviation operators, and defence and security forces to perform at their best every day and when the stakes are the highest. Around the globe, we’re everywhere customers need us to be with approximately 13,000 employees in more than 240 sites and training locations in over 40 countries. CAE represents more than 75 years of industry firsts—the highest-fidelity flight and mission simulators as well as training programs powered by digital technologies. We embed sustainability in everything we do. Today and tomorrow, we’ll make sure our customers are ready for the moments that matter.

About SIMCOM
A privately-owned, comprehensive learning institution, SIMCOM utilizes realistic simulator-based training to provide advanced aviation training services to professional pilots, owner-operators, Part 135 operators and maintenance personnel operating in general aviation, regional, military, government and cargo operations around the world.  SIMCOM currently operates 40+ simulators and flight training devices representative of a wide range of jet, turboprop and piston powered aircraft.  The company is headquartered in Orlando, Florida.

About Flexjet
Flexjet, Inc., a global leader in private aviation, first entered the fractional jet ownership market in 1995 and is about to celebrate its 30th anniversary. Flexjet offers fractional jet ownership and leasing and is the first in the world to be recognized as achieving the Air Charter Safety Foundation’s Industry Audit Standard, is the first and only company to be honored with 25 FAA Diamond Awards for Excellence, upholds an ARG/US Platinum Safety Rating, a 4AIR Bronze Sustainable Rating and is certified at Stage 2 with IS-BAO. Red Label by Flexjet, a market differentiator, which features an ultra-modern fleet, flight crews dedicated to a single aircraft and the LXi Cabin Collection of interiors. To date there are nearly 50 different interior designs across its fleet, which includes the Embraer Phenom 300 and Praetor 500, Bombardier Challenger 350/3500, the Gulfstream G450 and G650. Flexjet’s European fleet includes the Embraer Praetor 600 and the Gulfstream G650. Flexjet’s helicopter division sells fractional, lease and on-demand charter access to its fleet of owned, operated and maintained Sikorsky S-76 helicopters which boast 55,000 hours of safe flying certified by Wyvern and ARG/US and serving locations throughout the northeastern United States, United Kingdom and Florida. Flexjet is a member of the Directional Aviation family of companies. 

Source: CAE
Photo Credit: CAE

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US Aviation Academy Expands Pilot Training Infrastructure – Acquires Flight School Assets in Atlanta

Texas, United States – based US Aviation Academy (USAA), one of the largest aviation and pilot training organizations in North America which recently announced it had already enrolled more than 500 aspiring pilots to its 2024 flight training courses, has announced in a in a strategic move to expand its footprint and meet the growing demand for professional pilot training,

US Aviation Academy has acquired the assets of a well-established flight school in Atlanta, Georgia. This new location brings a wealth of opportunities for aspiring pilots in the Southeast, enabling them to access top-tier flight training and resources. With a robust reputation for high-quality training programs across the United States, US Aviation Academy’s entrance into the Atlanta market is a welcome development for local students seeking accelerated pathways to becoming commercial pilots.

The Atlanta Flight School campus
It will initially operate under Part 61 regulations, allowing for a flexible, personalized approach to training. This setup is particularly beneficial for students who want to pursue an accelerated course of study, as Part 61 regulations typically allow for a more adaptable schedule, enabling trainees to progress at their own pace. This model has long been favored by those aiming for swift completion and professional entry into the aviation industry. For students balancing work or other commitments, Part 61 training offers an ideal blend of rigor and flexibility, keeping their career goals on track.

Working toward Part 141 certification for the Atlanta Flight School
with FAA approval pending. This certification will allow the academy to offer a structured and streamlined curriculum, designed to optimize the learning experience and meet the highest regulatory standards. Part 141 programs are particularly appealing to students aiming for financial aid, veterans’ benefits, or specific airline career tracks, as this certification often aligns with streamlined training paths and financial incentives. Once approved, the Atlanta campus will be able to attract a broader range of students seeking the benefits of a Part 141 training environment.

The acquisition of the Atlanta flight school assets
Represents US Aviation Academy’s commitment to expanding access to quality aviation training in key locations across the U.S. As one of the busiest aviation hubs in the country, Atlanta offers ideal conditions for flight training, with access to diverse airspace and a vibrant aviation community. Students at the new campus will benefit from experienced instructors, well-maintained aircraft, and a training environment that reflects US Aviation Academy’s high standards of safety and professionalism.

With the addition of the Atlanta campus, US Aviation Academy continues to make strides in providing premier aviation education options for those seeking careers in aviation. The Atlanta acquisition not only strengthens the academy’s reach but also affirms its commitment to adapting to industry needs and offering flexible training solutions. As Part 141 approval nears, the future looks bright for aspiring pilots in the Southeast.

Source: US Aviation Academy

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US Investment Bank Advises on Texas Based Flight Training Group Transaction in 2024

Thrust Flight (“Thrust” or the “Company”), a provider of professional flight training services, has been recapitalized by Summit Park and AltitudeX Aviation (“AltitudeX”). Headquartered in Addison, Texas, Thrust is a flight training school focused on serving those who aspire to be professional pilots through its Zero Time to Airline® program. Philpott Ball & Werner (PB&W) served as exclusive financial advisor to Thrust Flight.

Headquartered in Addison, Texas, Thrust is a flight training school focused on serving those who aspire to be professional pilots through its Zero Time to Airline® program. The Company was founded in 2006 as an aircraft dealer by aviators and entrepreneurs Patrick Arnzen and Stuart Stevenson. After identifying a clear need and opportunity, the Company shifted strategy to focus exclusively on serving the professional pilot training market. From its three strategic locations in Texas, including operations in Addison (Dallas), Denison (North Dallas), and Conroe (North Houston), Thrust provides a best-in-class student experience by offering access to a modern fleet of aircraft and simulator-based instruction. Students who graduate from Thrust’s program often go on to careers as airline pilots or pilots within other sub-sectors of the aviation industry.

Bob Calton, co-Managing Partner at Summit Park, said, “Patrick and his team have built a tremendous business at Thrust Flight. As their partner, we are excited to support Patrick’s vision for continued growth in the large and fragmented pilot training market. In recent years, Summit Park has been focused on the aviation and training sectors, and Thrust represents a compelling opportunity to invest behind those themes in a market with strong long-term demand drivers.”

Patrick Arnzen, CEO and Co-Founder of Thrust, said, “In seeking a growth partner for Thrust, Summit Park was a clear choice. Thrust has reached an inflection point in its growth, and Summit Park’s experience partnering with founders at a similar stage in their journey was a critical factor in my decision. Looking forward, we are eager to open new Thrust locations and continue to train and develop some of the industry’s best pilots.”

As part of the transaction, Summit Park partnered with AltitudeX, a firm of former senior aviation executives focused on middle market investments. AltitudeX will have members sit on the board and serve as a strategic advisor to the Company.

Source: Philpott Ball & Werner and Thrust Flight

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