Jet Edge (EDG, Van Nuys) has acquired Columbus-based rival JetSelect Aviation (VJA, Columbus John Glenn, OH), expanding its fleet of large-cabin and long-range private aircraft to include a bolstered range in the super-midsize cabin class, it said in a statement dated January 14.
Jet Edge, which provides services to aircraft owners including operations, charter services, in-house maintenance, and assistance with sales and acquisitions, currently manages a fleet of more than 85 Gulfstream Aerospace, Bombardier Aerospace, Dassault Aviation, Boeing, and Embraer aircraft. JetSelect, meanwhile, focuses on Challenger 604, Gulfstream G450, Falcon 900EX, and Global 5000 aircraft types.
The acquisition will also provide “more elevated private jet charter options for consumers and corporations across the country as Jet Edge expands both east- and west-coast as well as midwest and central operations,” the statement said. “Jet Edge’s point-to-point charter fleet will also now be offered by two complementary aircraft series, Bombardier Challenger and Gulfstream GIV/GV aircraft.”
"The Jet Edge acquisition of JetSelect Aviation creates diversity in our managed aircraft fleet as well as expanding our domestic hub locations across the US," Chief Executive at Jet Edge Bill Papariella told Corporate Jet Investor magazine. About the geographical reach it enhances for Jet Edge, he gave Dallas as one example.
JetSelect will be integrated into Jet Edge. It will maintain its Columbus-based operations, while Jet Edge has pledged to retain all of its existing team members.
"Retaining valuable talent is always a priority," Papariella said. "All key talent at JetSelect has been given two-year retainment bonuses."
Los Angeles-based private equity firm Solace Capital Partners invested USD60 million in Jet Edge in February 2019, and Jet Edge first started talks with JetSelect six months later.
“Having a minority private equity sponsor has afforded us the opportunity to consistently be opportunistic about how we grow the business within aviation,” Papariella told Corporate Jet Investor.
