Canadian private equity firm Fulcrum Capital Partners has sold its ownership interest in Skyservice Investments Inc, a Canadian provider of business aviation services. The exit resulted from Skyservice’s acquisition by InstarAGF Asset Management, announced today. Founded in 1986, Skyservice in late 2012 secured a $22 million investment from Fulcrum, which facilitated a management buyout. Since then, the company experienced “substantial” growth through expansion of services and operations in existing and new locations, Fulcrum said. Vancouver-based Fulcrum is currently investing from Fulcrum Capital Partners V, which raised $344 million in 2015.
Fulcrum Capital Partners Sells Equity Ownership Position in Skyservice
Toronto, Ontario (September 18, 2017) Fulcrum Capital Partners (Fulcrum) is pleased to announce the sale of its equity ownership interest in Skyservice Investments Inc. (Skyservice). The sale occurred as part of a transaction whereby InstarAGF Asset Management Inc. acquired a majority equity ownership interest in Skyservice.
Skyservice, which was founded in 1986, operates three complementary divisions: Fixed-base operations (FBO), aircraft management services and aircraft maintenance. Skyservice manages the largest, most diverse fleet of aircraft in Canada and is frequently ranked as a top provider of FBO services by industry publications such as Professional Pilot Magazine and Aviation International News Magazine.
Fulcrum acquired its equity stake to support a management buyout of Skyservice in December 2012. Since that time, Skyservice has experienced substantial growth through expansion of services and operations in existing and new locations. This transaction marks the conclusion of a tremendously rewarding partnership for all stakeholders and the start of a new partnership that is poised to grow Skyservice’s leadership position in the industry.
“Fulcrum has been a valuable partner to management in helping guide the business since 2012,” said Marshall Myles,
Chairman and Chief Executive Officer of Skyservice. “We are also grateful for the significant role Fulcrum played in the process of finding a new partner which positions Skyservice for continued long-term success.”
About Fulcrum Capital Partners
Fulcrum Capital Partners is an independent private equity firm focused on the Canadian middle market. Fulcrum has invested more than $1 billion over the past two decades and is currently investing from its fifth private equity fund with $344 million in committed capital. Fulcrum has helped build and grow more than 100 mid-market companies by providing strategic, operational, financial and M&A expertise. Fulcrum maintains a national presence with multiple offices across Canada. Visit www.fulcrumcapital.ca to learn more.
Skyservice is a dynamic Canadian aviation organization that is dedicated to the core principles of safety and service. With over 30 years of experience, Skyservice is the leader in the Canadian business aviation market. With a diverse team of aviation experts and a commitment to exceptional service and outstanding levels of safety, Skyservice has earned its world-class reputation for excellence in aviation. At each of its four FBO locations in Toronto, Calgary, Montreal and Ottawa, Skyservice is dedicated to a full range of business aviation services, leading the industry in each of the following core business competencies: Aircraft Maintenance, Aircraft Management, Charter, FBO, Aircraft Sales and HondaJet Sales. Visit www.skyservice.com today to learn more.
About InstarAGF Asset Management
Launched in 2014, InstarAGF is an independent alternative asset management firm with an emphasis on North
American middle-market opportunities in the infrastructure sector and other alternative real asset categories. InstarAGF, which makes direct investments and co-investments with like-minded investors and strategic partners, is a joint venture between Instar Group Inc., a company owned by Gregory J. Smith, and AGF Management Limited, one of Canada’s largest independent investment management firms. For more information: www.instaragf.com
Photo courtesy of Skyservice Investments Inc