Elevate Holdings has purchased the US-based Keystone Aviation for an undisclosed sum, with an aim to broaden its aircraft management services.
Keystone Aviation offers certified aviation maintenance as well as aircraft charter and management services.
This deal combines the wide-ranging international client bases of both companies.
Following the takeover, Elevate Holdings will focus on expanding its managed fleet, with a goal to establish itself as the fifteenth largest aircraft management business in the US.
Elevate Holdings will also strengthen its service category by acquiring the Keystone Aviation maintenance and repair organisation as part of this deal.
Elevate Holdings CEO Greg Raiff said: “Elevate Holdings and Keystone Aviation are both focused on delivering outstanding white-glove service and mission-critical solutions to our clients.
“We believe the business aviation industry needs a provider large enough to deliver benefits at scale to its clients without sacrificing the personal touch so critical in a high-end service business. Together our teams will continue delivering high-touch experiences with more business aviation options than ever before.”
After integration, the staff of Keystone Aviation will continue to work together with the Elevate Holdings team.
Meanwhile, the Keystone Aviation divesting company, TAC Air, will stay involved as a strategic partner.
As part of the agreement, any aeroplane under Elevate Holdings management will gain ‘preferred access’ at all 16 TAC Air fixed-base operator (FBO) sites in the country.
Furthermore, Keystone Aviation – Salt Lake City (SLC) will carry out its operations from a new client access terminal at the Salt Lake City International Airport.
It will also operate from satellite centres in Scottsdale, Arizona (KSDL), and Provo, Utah (KPVU).
Created in 2003, Elevate Holdings delivers air transportation, travel consultancy and aircraft management services.
In related developments, AerCap Holdings completed the purchase of General Electric’s GE Capital Aviation Services (GECAS) last November.