Private equity investor AE Industrial Partners has acquired a majority interest in Alpine Air Express, a logistics and transportation platform providing regional air cargo services throughout the Western United States.
As part of this transaction, AEI has partnered with the company's existing shareholders, including Michael Dancy who will continue in his role as CEO of Alpine.
"Demand is steadily growing for reliable air transportation to support increasing shipments and specialty cargo throughout the US," said Jeff Hart, a vice president at AEI. "AEI has been strategically focused on establishing a platform within this market and will continue to invest in Alpine's infrastructure, while pursuing strategic growth opportunities that will allow the Company to even better serve its customers."
Michael Dancy, CEO of Alpine, added:"AEI is a perfect partner for us given their deep industry knowledge and experience working with unique, growing platforms throughout the aviation marketplace.
"We look forward to our partnership with AEI as we enter our next chapter of growth and execute on key strategic initiatives."
Akerman served as legal advisor and KPMG served as financial advisor to AEI.
The terms of the transaction were not disclosed.