Aviation services company Central Flying Service (CFS) in Little Rock, Arkansas, has been acquired by venture capital firm Tricoastal Ventures in a 100 percent stock transaction. CFS, based at Bill and Hillary Clinton National Airport, is Arkansas’s oldest aviation company. Founded and owned by the Holbert family, it offers Part 145 MRO, aircraft management, and charter. It also incorporates a flight training business.
Outgoing CEO Richard Holbert said CFS is "in the right hands” with Tricoastal, adding that the 82-year-old company’s “unique and lasting brand we created will continue to serve our great people and this community for decades to come.”
Tricoastal is a capital investment firm with a focus on commercial aviation. Partners Phil Jordan and Herb Knight will serve as CFS’s CEO and chief operating officer, respectively. They will focus on capitalizing on CFS’s existing capabilities and expanding to additional locations and adjacent markets. “We have big plans for the company, and we have the right team to maintain a culture of quality and excellence while extending our reach,” Jordan said.
Tricoastal also will leverage its ownership of Texas-based aircraft dealers American Kodiak and Volare Air for CFS to provide authorized maintenance for Kodiak and Tecnam aircraft owners.