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Moelis Capital Buys Flightstar Aircraft

Moelis Capital Partners, the PE arm of Moelis & Co., has bought Flightstar Aircraft Services. Financial terms weren’t announced. Jacksonville, Fla.-based Flightstar provides maintenance, repair and modification services to operators of transport category aircraft.


Moelis Capital Partners (MCP), the private equity
business affiliated with Moelis & Company, today announced the acquisition of
Flightstar Aircraft Services (“Flightstar”), a leading provider of maintenance, repair and
modification services to operators of transport category aircraft, including air carriers,
cargo companies and aircraft lessors.

Headquartered on Cecil Field in Jacksonville, Florida, Flightstar is a Federal Aviation
Administration (FAA) registered Part 145 repair station with a class IV rating, and has
commensurate licenses with the Civil Aviation Administration of China, and the
European Aviation Safety Agency. The Company’s services include all levels of
scheduled maintenance from daily line checks to heavy depot level maintenance, as well
as passenger-to-freighter conversions on certain classes of Boeing aircraft. Currently, the
Company has full tooling capabilities for B717, B727, DC9, MD80, B737, B757 and B767
aircraft. Flightstar operates out of two adjacent hanger facilities on Cecil Field with over
335,000 square feet under roof and one million square feet of ramp space. Prior to the
acquisition, Flightstar was owned by management and affiliated investors.

“We are excited about this partnership and believe it will help us grow and better meet
the needs of our customers,” said Jerry Hernandez, Co-Founder and President of
Flightstar Aircraft Services. “There is tremendous opportunity ahead for Flightstar and
with MCP we believe we have found a partner that is excited to support the Company in
achieving its goals.” Mr. Hernandez will continue in his role as President and, along
with other members of the management team, will retain a significant equity ownership.

Kurt Larsen, Managing Partner of Moelis Capital Partners, said, “We were impressed by
Flightstar’s strong leadership team, successful track record, blue-chip customer base and
dynamic culture. Led by Jerry Hernandez, the Company has built a reputation for providing high-quality services, employing a hands-on management style with an
emphasis on meeting the customer’s expectation no matter what it takes. We’re
particularly excited by the Company’s growth prospects and we look forward to
working with this talented management team.”

JetCapital served as advisor to MCP on the transaction, and Parr Brown Gee & Loveless
served as legal counsel to MCP. SunTrust Bank, in continuance of its relationship with
Flightstar, provided the senior debt financing.


For more information about Flightstar, please visit

Moelis Capital Partners is a middle market private equity firm founded in 2007 in
connection with the formation of Moelis & Company, a global independent investment
bank. Moelis Capital Partners manages $700 million of committed private equity capital
and specializes in traditional private equity investments in the middle market. For more
information, please visit