Aircraft performance improvements company Blackhawk Aerospace has sold its majority ownership to New State Aviation Holdings, the general aviation-focused platform of the middle-market private equity firm New State Capital Partners.
Blackhawk joins New State's anchor aviation investment, AVEX, a provider of sales and maintenance for the Daher TBM turboprop aircraft, which was acquired in December 2021. AVEX and Blackhawk will continue to operate independently, while working together to expand New State's aviation offerings. Blackhawk's management will remain with the company.
Headquartered in Waco, Texas with more than 60 employees, Blackhawk provides engine upgrades for a broad range of turboprop models, improving an aircraft's speed, safety and climb capabilities while extending engine life. The company serves customers worldwide in the commercial and defence markets. Blackhawk was founded in 1999 as Blackhawk Modifications and added divisions for defence support, maintenance, avionics, composites and aircraft sales by establishing locations in Huntsville, Alabama and Columbia, Missouri. Its experienced team and expansive capabilities have given it the opportunity to serve as a one-stop-shop for all things turboprop-related worldwide. Blackhawk's composites business is not included in the transition and will remain independent.
“We are very excited to join New State Aviation Holdings and partner with the folks at AVEX,” says Blackhawk CEO, Jim Allmon. “Our family of companies shares a singular focus: to increase an aircraft's capabilities to unrivalled heights while maintaining the highest level of safety possible. We look forward to working with Chad [Cundiff] and the rest of the New State Aviation team to further expand our services.”
“This transformative acquisition more than doubles the size of our business and allows us to expand aircraft platforms serviced,” adds New State Aviation Holdings CEO Chad Cundiff. “AVEX is a market leader in sales, brokerage and maintenance of the Daher TBM, and Blackhawk is the market leader in turboprop engine upgrades. Together, they will allow New State Aviation Holdings to offer a broader suite of services and meet more needs of light turbine aircraft owners, across a variety of aircraft manufacturers.”
“We are thrilled to have Blackhawk join our platform," says Daniel Han, senior principal at New State and chairman of New State Aviation Holdings. “As the market leader in engine upgrades and STC development, Blackhawk represents a significant step towards our goal of being the premier service provider for the light turbine market. More importantly, the outstanding reputation and culture of Blackhawk, focused on people and customers first, will mesh seamlessly with that of AVEX. We believe this combination will build on the strengths at AVEX, expand our capabilities and enable us to provide the highest levels of service, quality, and expertise in general aviation.”
Strong demand for AVEX and Blackhawk products and services has driven record backlogs for both companies and signals a bright future for New State Aviation Holdings.