AVEX, a provider of sales and maintenance for the Daher TBM turboprop aircraft in North America, has been acquired by private equity firm New State Capital Partners from founder, Terry Winson, who is retiring.

Established in 1985 with operations in California and Colorado, AVEX is the exclusive distributor of new TBM aircraft in the southwestern United States. With more than 1,000 TBM aircraft currently in service, the company also manages a maintenance and aftermarket services business that provides a one-stop solution and a high level of customer service to TBM owners across the country.

"AVEX has been my life's work, so selecting the next owner of the business was not a task I took lightly," says Winson. "From our first interaction, New State clearly stood out as the best partner for AVEX. It was absolutely professional, acting with integrity at every step. I am truly excited for it, as well as for our customers and the team at AVEX. I am quite confident of their future success."

"Today marks a wonderful milestone in the growth of AVEX," adds president Guy Eichberg. "We are all energised by the skill, resources and strategic guidance that New State can add to an already terrific company. AVEX has been preparing for this transition for years, and we could not have picked a better partner in New State."

"The acquisition of AVEX marks a new chapter for New State as we launch a broader platform focused on aviation," says senior principal Daniel Han. "AVEX was an ideal anchor investment for this strategy, due to the strength of the business Terry and the team have built. Given the strong and enduring trends within business and general aviation, we see exciting growth potential across the sector, and for AVEX in particular. We look forward to partnering with the team to further build on AVEX's legacy of excellence and will be actively seeking additional acquisitions within the space."