Elliott Aviation has reached a partnership agreement with North Carolina-based investment group Summit Park, which has taken a majority interest in the US aviation services company.
Elliott Aviation provides aircraft maintenance, avionics, paint, interior, parts, accessories, FBO services and appraisals for mid-sized jets and turboprops from three locations in Moline, Illinois; Des Moines, Iowa; and Eden Prairie, Minnesota. It owns aircraft sales and brokerage brand Elliott Jets as well as manufacturing brand Elliott Technologies.
Summit Park co-founder Bob Calton says: “Elliott Aviation has a long-standing reputation for providing first-class service to the business aviation industry. We are excited to begin our partnership with Greg Sahr and the leadership team, and look forward to capitalising on numerous avenues of growth that they have identified for the business. Importantly, given Elliott's rich legacy as a family-owned business, we are pleased that Wynn Elliott will retain an ownership position in Elliott in partnership with us.”
Wynn Elliott adds: “As a family-owned business, we have strived throughout our 80 plus year history to provide the highest levels of quality and service for our customers, and we are excited about pursuing additional growth opportunities in partnership with Summit Park.”
Greg Sahr, who will be taking over as CEO, adds: “Elliott is well-positioned to continue gaining share through our differentiated service offerings, and we believe Summit Park is the ideal partner to help accelerate growth. We were drawn to Summit Park's experience in growing founder-owned businesses into larger enterprises, and look forward to collaborating with its team during our next chapter.”