March 5, 2019
US aviation services platform Jet Edge International has raised $60 million in equity and debt that will be used to fund a number of strategic initiatives. The investment round was led by Solace Capital Partners, a Los Angeles-based private equity firm.
Jet Edge has grown significantly over the past several years and currently manages a fleet of more than 50 large cabin and super-midsize aircraft including Bombardier, Dassault, Embraer and Gulfstream jets. After moving into its new Van Nuys airport headquarters last year, where it has two modern hangars and offices, the company recently expanded in New Jersey's Teterboro airport by adding 40,000 sq ft of hangar space and 4,000 sq ft of office space. It will use the proceeds of this investment to continue its growth by building additional infrastructure in both new and existing markets, as well as by offering additional value-added services to its aircraft owners and charter clients.
“The new partnership between Jet Edge and Solace Capital is about continuing our commitment to offering our clients the highest levels of service and safety,” says Jet Edge CEO Bill Papariella. “With a strong position in key markets in southern California, Florida and the New York metropolitan area, we are excited to continue to build our footprint and portfolio of services for our customers, and are thrilled that Solace Capital supports our vision of becoming a global force in the industry.”
“Jet Edge is a market leader in private aviation and is well-positioned within the fastest-growing segments of the industry,” adds Solace Capital managing partner Christopher Brothers. “We are pleased to support the company through its next phase of growth.”
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Jet Edge International
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