PE Deals

Carlyle exits PrimeFlight Aviation Services

Both The Sterling Group and Capitol Meridian Partners executives noted growth opportunities in PrimeFlight.

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  • The transaction is expected to close by Q3 2023
  • The buyers, Sterling Group and Capitol Meridian Partners, will have a 50-50 partnership
  • PrimeFlight completed 20 acquisitions under Carlyle control

Carlyle announced today that it was exiting PrimeFlight Aviation Services to Capitol Meridian Partners, a Washington DC-based PE firm, and The Sterling Group, headquartered in Houston.

Although financial terms were not disclosed, The Sterling Group and Capitol Meridian Partners will have equal control of PrimeFlight.

PrimeFlight Aviation, based in Sugar Land, Texas, is a global provider of essential aircraft, passenger and security-related services to commercial airline, airport, cargo and general aviation customers.

The company operates across 235 airports globally, providing a suite of services through its network of subsidiaries, including PrimeFlight Cargo, PrimeFlight GSE Maintenance, Prime Appearance, ProFlo Industries, Skytanking and Aviation Cleaning Supply.

With more than 20 years in business, the company employs roughly 12,000 employees across its global footprint, with primary operations in North America and Europe.

“We are grateful to have had the opportunity to partner with Dan Bucaro and the entire management team to lead the transformation of PrimeFlight,” said Doug Brandely, managing director at Carlyle.

“The PrimeFlight team expertly navigated an unprecedented time in the commercial aerospace industry to deliver substantial growth. Over the course of our partnership, we completed 20 acquisitions to build a global aviation services platform. PrimeFlight has an impressive runway for future growth, and we look forward to seeing the Company’s continued success,” added Brandely.

Dan Bucaro, PrimeFlight CEO, said the company has a strong pipeline of continued growth through its global footprint.

Both The Sterling Group and Capitol Meridian Partners executives noted growth opportunities in PrimeFlight.

Greg Elliott, partner of The Sterling Group said: “We have partnered with Dan Bucaro as either CEO or Chairman on nine companies over the past 20 years. Dan and his team of industry veterans have built a tremendous platform for growth in PrimeFlight. We look forward to our continued partnership.”