US-based light jet brokerage company jetAVIVA has entered an agreement to acquire aviation sales firm Kansas Aircraft (KAC) for an undisclosed sum.
The deal follows jetAVIVA’s recent closing of $20m in equity investment to help further develop the company’s offerings and capability.
Last year, both jetAVIVA and KAC traded more than 120 airplanes, including piston, turboprop and jet aircraft.
Upon completion of the deal, the combined entity is expected to support jetAVIVA’s positions in the pre-owned Citation and Embraer markets, as well as the turboprop and piston aircraft markets.
jetAVIVA CEO Cyrus Sigari said: "Since our inception, it has been jetAVIVA’s core mission to make our clients’ and stakeholders’ dreams come true. As we enter our tenth year of business, we have made it our goal to extend that mission to include more segments in the general aviation industry.
"KAC shares our core values of integrity, trust and service above self, making the acquisition a very natural fit for us."
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By GlobalDataAs part of the deal, KAC CEO Tim White has been named as a managing partner for jetAVIVA with immediate effect. jetAVIVA sales vice-president Dustin Cordier has also been named as a managing partner of the combined entity.
After the merger, KAC president and owner Dianne White has assumed the role of customer experience vice-president.
Following the integration, KAC will continue to focus on high-end piston and turboprop aircraft.
For the last 25 years, the company has been providing knowledge and expertise in the products of various aviation groups such as Piper, Cessna and Beechcraft.
