New Ownership For Quest Aircraft

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Quest Aircraft, which builds the Kodiak turboprop in Sandpoint, Idaho, has been acquired by Setouchi Holdings, the company announced on Tuesday. Setouchi, which has been an authorized Kodiak dealer, is part of the Tsuneishi Group, an international company based in Japan, which is mainly involved in shipbuilding. "We are very excited to have a strong organization such as Tsuneishi Group believe in Quest, our products and our philosophy, and invest its resources in the company," said Sam Hill, CEO of Quest. "Over the last few years, we have experienced steady growth, and with new financial capitalization and a shared understanding of the potential opportunities in the marketplace for expansion, we are looking forward to significant growth for Quest in the years ahead."

Quest's headquarters and manufacturing operations will remain in Sandpoint, the company said. The existing leadership team will continue to oversee and manage the organization. As production ramps up and growth in other areas of the company increases, plans for both physical and personnel expansion will be developed and implemented. "Quest has positioned itself to be attractive to outside investors to help us grow the company," said Hill. "We feel we have the perfect fit with Tsuneishi Group." The Kodiak is a single-engine, 10-seat airplane designed for STOL use and float capability. It can take off in less than 1,000 feet at full gross takeoff weight of 7,255 pounds.