A majority share in air cargo specialist Alpine Air Express has been acquired by AE Industrial Partners LP (AEI), a private equity investor specialising in aerospace and defence, power generation and specialty industrial businesses.
As part of this transaction, AEI has partnered with the company's existing shareholders including Michael Dancy, who will continue in his role as CEO of Alpine.
Headquartered in Provo, Utah, Alpine is a Part 135 air cargo operator with a long history providing its customers with safe and reliable air cargo transportation services primarily throughout the mountain region of the western United States. Today, it operates a fleet of over 40 aircraft, and it recently developed a proprietary STC to convert the Beechcraft 1900D aircraft from passenger configuration to cargo configuration, making it the largest single pilot cargo aircraft in the world. This STC offers Alpine a competitive advantage that should enable it to capture greater market share.
“AEI is a perfect partner for us, given its deep industry knowledge and experience working with unique, growing platforms throughout the aviation marketplace," says Alpine CEO Michael Dancy. “We look forward to our partnership as we enter our next chapter of growth and execute on key strategic initiatives.”
AEI partner Jon Nemo adds: “Alpine is a leader in its regional air cargo market, possessing a unique geographic presence, strong customer relationships, a growing aircraft fleet and a reputation for reliability and safety. This leadership position has been driven by the company's strong management team, with whom we are excited to partner in the company's next chapter of growth."
AEI VP Jeff Hart says that air cargo demand is growing: “We have been strategically focused on establishing a platform within this market and will continue to invest in Alpine's infrastructure, while pursuing strategic growth opportunities that will allow the company to even better serve its customers.”