Wheels Up Acquires Air Partner plc

Aero 3, Inc. (GenNx360) Acquires Skywheels Ltd.

November 14, 2023

Aerospace & Defense

Aero 3, Inc., a GenNx360 Capital Partners portfolio company and parent of AeroRepair, Aircrafters and Hemico, has acquired Skywheels Ltd., a Cheshire, England-based wheel and brake repair and overhaul provider for the aviation industry. The acquisition adds a U.K./EMEA footprint to Aero 3's existing North American network and is intended to expand Aero 3's product, parts exchange and MRO capabilities across Europe.

Delta, Certares and Knighthead Provide $500M Recapitalization Facility to Wheels Up

August 15, 2023

Transportation

Delta Air Lines, Certares Management LLC and Knighthead Capital Management LLC (via CK Opportunities) agreed to provide a $500 million facility — $400 million term loan plus a $100 million liquidity facility from Delta — to Wheels Up to support the company’s business transformation. As part of the recapitalization, Wheels Up will issue Class A common stock to participating lenders (who are expected to own ~95% post-transaction) to stabilize operations and accelerate the company’s path to profitability.

The Partner Companies Acquires UPG from Turnspire Capital Partners

February 27, 2023

Manufacturing

Turnspire Capital Partners announced that an affiliate has sold portfolio company UPG Company, LLC (UPG) to The Partner Companies, LLC. UPG is a Houston-based designer, manufacturer and assembler of engineered, mission‑critical components serving data center, healthcare, energy and diversified industrial end markets; terms were not disclosed. UPG operates facilities in Houston, Wales (United Kingdom) and Suzhou (China).

Global Partners LP Acquires Wheels (Consumers Petroleum of Connecticut)

February 17, 2022

Retail

Global Partners LP (NYSE: GLP) completed the acquisition of the Wheels retail fuel and convenience-store assets from Consumers Petroleum of Connecticut (Wheels), adding ~26–27 convenience-store locations and associated fuel supply agreements in Connecticut (and NY). The deal expands Global’s Northeast retail footprint and supply network; several sites were divested under an FTC consent order.

Wheels Up Acquires Gama Aviation LLC (Gama Aviation Signature)

March 2, 2020

Transportation

Wheels Up completed the acquisition of Gama Aviation LLC (d/b/a Gama Aviation Signature) on March 2, 2020, bringing Gama’s aircraft management and private charter operations into Wheels Up’s owned and managed fleet. The deal integrates Gama’s Part 135 operator capabilities and personnel to expand Wheels Up’s aircraft management, charter offerings and overall operational footprint while retaining Gama operations in Shelton, Connecticut.

Platinum Equity Affiliate Acquires Wesco Aircraft and Combines It with Pattonair

January 9, 2020

Aerospace & Defense

An affiliate of Platinum Equity completed the acquisition of Wesco Aircraft Holdings Inc. for approximately $1.9 billion and immediately combined Wesco with Platinum Equity portfolio company Pattonair. The combination creates a roughly $2.4 billion, global aerospace supply-chain and distribution business headquartered in Valencia, California, with operations across 17 countries and more than 4,000 employees to expand scale, product breadth and supply‑chain capabilities.