Blackhawk Aerospace, a 60-employee aircraft modification company based in Waco, Texas, announced today it has sold its majority ownership to private equity firm New State Aviation Holdings. The financial firm’s “anchor aviation investment” is Avex, a sales and support company focusing on Daher TBM turboprops.
Self-described as a “middle-market” private-equity platform, New State will retain Blackhawk management and, as with Avex, enable the newly acquired company to continue to operate independently. Terms of the transaction were not revealed.
Founded in 1999 as Blackhawk Modifications, the Texas company engineers and performs engine upgrades for several turboprop models, including the Beechcraft King Air series. The modifications “improv[e] an aircraft’s speed, safety, and climb capabilities, while extending engine life,” according to Blackhawk. Worldwide customers include the commercial and defense markets. Since its inception, Blackhawk has added divisions for defense support, maintenance, avionics, composites and aircraft sales by acquiring businesses located in Huntsville, Alabama, and Columbia, Missouri.
Blackhawk CEO Jim Allmon said, “Our family of companies shares a singular focus: to increase an aircraft’s capabilities to unrivalled heights while maintaining the highest level of safety possible. We look forward to working with Chad [Cundiff] and the rest of the New State Aviation team to further expand our services.”
ditto Tecnam press release comment…