West Star Aviation has successfully reached an investment partnership with Norwest Equity Partners (NEP), a leading middle market investment firm founded in 1961.
Norwest has made a significant investment in West Star Aviation, one of the world’s largest and fastest growing independent providers of Maintenance, Repair, and Overhaul (MRO) and related services to the business aviation industry. The transaction was completed on April 28, 2016.
“On behalf of the entire West Star team, we are confident that our new partnership with NEP will help us successfully achieve our next level of growth. In partnership with NEP, our operating philosophy will remain grounded in our strong technical expertise, experienced employees, attention to detail, and a constant focus on customer service and satisfaction,” stated Robert Rasberry, West Star Aviation CEO.
Tim DeVries, NEP Managing General Partner, stated, “West Star’s solid business model and industry leading management team have helped to establish extremely high barriers to entry within the business aviation maintenance market. West Star has done a great job to earn a global reputation as a highly valued, ‘go-to’ MRO services provider, and we’re going to work hard to leverage their existing growth momentum along with our combined NEP capital and resources to further build and grow the company.”
In addition to its facilities in East Alton, IL; Grand Junction, CO; and Chattanooga, TN, West Star Aviation runs maintenance operations at Aspen-Pitkin County Airport in Aspen, CO; Chicago Executive Airport in Chicago, IL and Centennial Airport in Denver, CO. The company also provides complete FBO services for transient aircraft at its newly remodeled East Alton and Grand Junction facilities.
“From expanding service capabilities and facilities to key contracts and strategic growth initiatives, West Star is well-positioned for continued success. The right team is also in place to help lead the way,” Todd Solow, NEP Partner, said.