Private equity group Kompass Kapital today said it made a strategic investment in private aviation company Airshare; both businesses are headquartered in Kansas City. Kompass Kapital will now lead the Airshare ownership group, with previous investors maintaining an active role with considerable equity positions. Terms of the transaction were not disclosed.
"We are thrilled to have Kompass Kapital join the Airshare ownership group and strongly believe its investment will have a material impact on our future," said Airshare CEO John Owen. "When we made the decision to raise capital in support of our strategic goals, we were diligent in defining the ideal partner for us, both professionally and culturally.
"We immediately received considerable interest, but it quickly became clear we had the perfect match just down the road in Kompass Kapital. Kompass' reputation is impeccable, and their track record in helping businesses flourish is well known. Additionally, they have already demonstrated great success in partnering with our legacy ownership group through other investments. The confidence they've shown in Airshare is extremely validating."
Kompass Kapital managing partner Bradley Berger said he is "very excited" about the partnership. "We invest in people, and when evaluating the potential of any opportunity, we start with company leadership. The executive team at Airshare is outstanding, and they inspired us with their vision to strategically expand the company's geographic footprint, fleet, and customer base. The growth prospects are very encouraging, and we believe the company is uniquely positioned to further capture market share," he noted.
The companies have called the investment part of a “transformative year for Airshare.”
Following the company's acquisition of the Wheels Up aircraft management business in September, Airshare doubled in size to nearly 600 employees while operating a fleet approaching 150 aircraft, becoming one of the largest fleet operators in the U.S.