New State Aviation Holdings, a general aviation-focused platform for New State Capital Partners, has announced the acquisition of Blackhawk Aerospace.
Blackhawk will join NS Aviation’s investment AVEX, which was acquired in December 2021. The two acquisitions, AVEX and Blackhawk, will operate independently but work together on expanding NS Aviation’s offerings.
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The terms of the transaction were not disclosed but Blackhawk’s management will remain with the company. Blackhawk announced the sale of the majority of its ownership to NS Aviation Tuesday. The company said the composites business was not included in the transaction and will remain independent.
Blackhawk is headquartered in Waco, Texas, and has over 60 employees. The company provides engine upgrades for a range of turboprop models and improves the aircraft’s speed, safety and climb capabilities while extending the engine life. The company was founded in 1999 and has added divisions for defense support, maintenance, avionics, composites and aircraft sales.
“We are very excited to join New State Aviation Holdings and partner with the folks at AVEX,” Blackhawk CEO Jim Allmon said. “Our family of companies shares a singular focus: to increase an aircraft’s capabilities to unrivaled heights while maintaining the highest level of safety possible. We look forward to working with Chad [Cundiff] and the rest of the New State Aviation team to further expand our services.”
Blackhawk headquarters in Waco, Texas
New State Capital Partners is a private equity firm that can invest up to $100 million in equity per transaction. New State CP has invested in over 35 companies to date.
“This transformative acquisition more than doubles the size of our business and allows us to expand aircraft platforms serviced,” CEO of New State Aviation Holdings Chad Cundiff said. “AVEX is a market leader in sales, brokerage and maintenance of the Daher TBM, and Blackhawk is the market leader in turboprop engine upgrades. Together, they will allow New State Aviation Holdings to offer a broader suite of services and meet more needs of light turbine aircraft owners, across a variety of aircraft manufacturers.”
“We are thrilled to have Blackhawk join our platform,” said Daniel Han, Senior Principal at New State and Chairman of New State Aviation Holdings.
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As the market leader in engine upgrades and STC development, Blackhawk represents a significant step towards our goal of being the premier service provider for the light turbine market. More importantly, the outstanding reputation and culture of Blackhawk, focused on people and customers first, will mesh seamlessly with that of AVEX. We believe this combination will build on the strengths at AVEX, expand our capabilities and enable us to provide the highest levels of service, quality and expertise in general aviation,” Han said.
High demand for products and services from both AVEX and Blackhawk has driven record backlogs for both companies.
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