An alliance of Capitol Meridian Partners and The Sterling Group has agreed to acquire PrimeFlight Aviation Services from funds managed by investment company Carlyle.
The deal consideration was not made public.
PrimeFlight offers mission-critical fuelling, de-icing, and ground handling services to airlines and airports.
It delivers these services through its subsidiaries, including PrimeFlight Cargo, PrimeFlight GSE Maintenance, Skytanking, Aviation Cleaning Supply, Prime Appearance, and ProFlo Industries.
The Texas-based firm has a primary presence in the North American and European markets.
With around 12,000 employees, it operates across nearly 235 stations worldwide.
PrimeFlight CEO Dan Bucaro said: “This is an exciting time for PrimeFlight as we have significantly expanded our operations outside of North America, continue to execute on new business wins, and we have a strong pipeline of continued growth through our global footprint.
“We look forward to partnering with Capitol Meridian Partners and The Sterling Group in this evolution.”
Completion of the deal is subject to customary closing conditions.
Capitol Meridian Partners partner and co-founder Adam Palmer said: “We are thrilled to once again partner with the PrimeFlight management team in support of the company’s next phase of growth.
“PrimeFlight represents a unique opportunity to partner with a management team for a second time on the same platform. We are excited to invest behind the company in support of its organic and inorganic growth strategy, during a time in which the aviation industry is continuing its strong recovery from the pandemic.”