Wheels Up Acquires Gama Aviation LLC (Gama Aviation Signature)

Alba Wheels Up and Southfield Capital Acquire John A. Steer Co.

January 11, 2024

Logistics & Distribution

Alba Wheels Up, backed by Southfield Capital, has acquired John A. Steer Co., a Philadelphia-based customs brokerage and logistics provider founded in 1905. The deal expands Alba's geographic footprint and service capabilities in customs brokerage, freight forwarding and trade-compliance services for highly regulated end markets such as food, beverage and chemicals.

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.

West Star Aviation Acquires Jet East from Gama Aviation

November 6, 2023

Aerospace & Defense

West Star Aviation, a portfolio company of The Sterling Group, has acquired Jet East from Gama Aviation. The deal brings together two business-aviation MRO providers to expand geographic coverage, AOG/mobile capabilities, and heavy- and line-maintenance services (transaction announced in Nov 2023; reported sale price ~US$131 million).

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.

TRM Equity Acquires Assets of Gamma Aerospace, LLC

March 2, 2023

Aerospace & Defense

TRM Equity II acquired substantially all of the assets of Gamma Aerospace, LLC on March 2, 2023. Gamma Aerospace, a Mansfield, Texas-based manufacturer of multi-contoured formed and multi-axis machined aerospace components with three production facilities and over 200 employees, will be operated by TRM with a focus on operational improvement and stabilizing performance amid post-COVID supply and labor challenges.

Wheels Up Acquires Air Partner plc

April 1, 2022

Transportation

Wheels Up Experience Inc. has completed its all-cash acquisition of U.K.-based Air Partner plc for 125 pence per share, valuing the business at approximately $109 million. The deal expands Wheels Up's international footprint and adds group charter, freight, and aviation safety & security services to its product portfolio; Air Partner will continue to operate from its Gatwick headquarters and retain its leadership team.