Middle market investment bank XLCS Partners has served as exclusive advisor to Salt River Aviation in its recapitalisation by Weinberg Capital Group. The transaction, completed in December 2023, was led by XLCS partner Joe Contaldo and associate Reed McMahon.
“As XLCS continues to strengthen its coverage of the global aerospace industry, we are seeing exciting things across the MRO and USM (used serviceable material) landscape, including increased private equity interest in USM businesses,” commented Contaldo.
Arizona-based Salt River Aviation specialises in the provision of auxiliary power units (APUs), APU teardown and disassembly services, APU subcomponents and other airframe components for a variety of commercial platforms including the A320 and 737 families. The company is known across the industry as the ‘APU experts,’ notes XCLS Partners.
“From the perspective of our customer and partners, this transaction will be seamless as our entire team will stay in place as we look to enhance our business,” added Greg Crill, CEO of Salt River.