Chicago-based Priester Aviation has acquired Mayo Aviation in Colorado under an arrangement between the two family-owned aircraft management and charter companies. Each company will still maintain separate brands but work with greater scale and sharing of resources.
Priester Aviation expects increased efficiencies with the acquisition, but said this will not result in staff reductions from either company. “By coming together, we will be able to do more for all of our clients with the same energy and engagement they have enjoyed for decades,” said Priester chairman and CEO Andy Priester. “We will also be able to offer more opportunities to our teams. Together, we will develop a vision of who we can all become, and from that, success in the marketplace will follow.”
Mayo was established in 1978 and will remain under the leadership of second-generation owner Bill Mayo. Mayo said the acquisition serves to bring together two companies with similar values, including an emphasis on relationships with their clients.
“In Priester, we see a company that focuses on the same elements we do. Our parents and families understood that this is a customer-based business,” Mayo said. “The legacy that they built is on display every day, in every interaction. It was important to have a relationship that goes beyond numbers. Heritage matters.”
The acquisition, financial terms of which weren’t disclosed, is expected to be completed by year-end.