Private equity group bolsters its portfolio with fast-growing
private aviation company
OVERLAND
PARK, Kan., July 16,
2024 /PRNewswire/ -- Global private equity group
Kompass Kapital announced today it has made a strategic investment
in private aviation company Airshare, headquartered in Kansas City. The transaction further enhances
the company's historically strong financial position and allocates
significant dollars for strategic growth and expansion initiatives.
Kompass Kapital will now lead the Airshare ownership group, with
previous investors maintaining an active role with considerable
equity positions. Terms of the transaction were not disclosed.
![Kompass Kapital Kompass Kapital](https://mma.prnewswire.com/media/2461867/Kompass_Kapital_Logo.jpg)
This investment accentuates a transformative year for Airshare.
Following the company's acquisition of the Wheels Up aircraft
management business last September, Airshare doubled in size to
nearly 600 employees while operating a fleet approaching 150
aircraft, becoming one of the largest fleet operators in
the United States. The company
offers a holistic suite of private aviation solutions, managing
aircraft nationwide and providing charter services worldwide. The
Airshare Fractional Program, featuring sales of both fractional
shares and jet cards, has continued expanding over the last 12
months. The program is now available in most of the country,
including recent entry into the Northeast and Southeast regions.
Airshare expects its fractional footprint to extend coast-to-coast
very soon.
"We are thrilled to have Kompass Kapital join the Airshare
ownership group and strongly believe its investment will have a
material impact on our future," said John
Owen, CEO of Airshare. "When we made the decision to raise
capital in support of our strategic goals, we were diligent in
defining the ideal partner for us, both professionally and
culturally. We immediately received considerable interest, but it
quickly became clear we had the perfect match just down the road in
Kompass Kapital. Kompass' reputation is impeccable, and their track
record in helping businesses flourish is well known. Additionally,
they have already demonstrated great success in partnering with our
legacy ownership group through other investments. The confidence
they've shown in Airshare is extremely validating."
"We are very excited to partner with Airshare, where we join a
talented team dedicated to serving the private aviation needs of
business and leisure customers both domestically and
internationally," said Bradley
Berger, Managing Partner of Kompass Kapital. "We invest in
people, and when evaluating the potential of any opportunity, we
start with company leadership. The executive team at Airshare is
outstanding, and they inspired us with their vision to
strategically expand the company's geographic footprint, fleet and
customer base. The growth prospects are very encouraging, and we
believe the company is uniquely positioned to further capture
market share."
Airshare is the newest addition to the assets held under
management at Kompass Kapital, featuring a diversified portfolio of
investments including operating companies, private equity funds,
partnerships, real estate, fixed income and public equity. Berger
noted the importance of ensuring the company's previous investors
remain within the new ownership structure.
"We are grateful to have the legacy investor group retain a
substantial ownership position in the company. They will
continue to play a central role in our collective success. As we
scale, we will ensure Airshare continues to delight customers with
an exceptional experience and unwavering commitment to safety every
time they fly with us," said Berger.
For nearly 15 years, Kompass Kapital has partnered with business
leaders across diverse industries who share similar values and an
entrepreneurial mindset. The company's stakeholder-centric approach
has been proven to establish meaningful, collaborative
relationships that deliver impressive results for companies at
various stages of maturity. Kompass had been interested in pursuing
an investment in private aviation during the rapid growth
experienced by the industry following the pandemic. As its
leadership began exploring options, Kompass recognized Airshare as
a unique opportunity to enter the industry with a well-established
company that shared similar values to its own.
Jefferies, LLC acted as exclusive financial advisor to Airshare.
Lathrop GPM served as legal counsel to Airshare, and Spencer Fane, LLP served as legal counsel to
Kompass Kapital.
About Airshare
Airshare fits the way you fly. Founded
in 2000 and headquartered in Overland
Park, Kan., the company offers a holistic suite of private
aviation solutions including aircraft management, fractional
ownership, jet cards, charter services and aircraft maintenance.
Airshare operates a fleet of approximately 150 aircraft through its
aircraft management and fractional programs. The company provides
aircraft management and charter services nationwide, while offering
fractional ownership and jet cards in dedicated regions with its
fleet of Challenger 350/3500s and Phenom 300s. Airshare has
received IS-BAO Stage 3 and ARGUS Platinum designations, meeting
the highest international standards for safe flight operations. For
more information, visit www.flyairshare.com.
About Kompass Kapital
Kompass Kapital is a
Kansas City-based private equity
group with a diversified portfolio of passive and active
investments across various industries and business sectors.
Featuring a global footprint of over 100 investments throughout
North America, Central America and Europe, Kompass Kapital invests in people who
create value and deliver results. Founded in 2010, Kompass Kapital
positions their partners for growth by providing targeted support
through a dynamic range of business services including corporate
affairs, finance, human resources, investments, legal, marketing,
operations, and technology services. To find out more, visit
www.kompasskapital.com.
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SOURCE Airshare