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HIG Capital completes sale of Amerijet

HIG Capital has sold its portfolio company Amerijet Holdings to an affiliate of ZS Fund, a middle market focused private equity firm.

Since its founding in 1974, Amerijet has grown from a small charter service operator to the leading provider of cargo and logistics solutions to the Caribbean and Latin America.
 
It operates a fleet of 10 aircraft, offering scheduled and charter cargo services and transporting over 200 million pounds of freight annually. The company maintains its main cargo and flight hub in Miami, a network of field offices throughout the US, and has over 200 agents across 137 countries. The company is headquartered in Fort Lauderdale, Florida.
 
“HIG has been an ideal and patient partner over the past 15 years,” says David Bassett, the founder of Amerijet. “HIG supported Amerijet through numerous strategic initiatives since investing in the company in 2001, enabling Amerijet to access new markets, expand capacity and continue to offer our customers an unparalleled level of service. Amerijet is well positioned for its next phase of growth with ZS Fund L.P. and Vic Karjian, the incoming CEO.”
 
“It has been personally and professionally rewarding to work with David Bassett and the dedicated management team at Amerijet,” says Jeff Zanarini, managing director at HIG. “The company has outperformed our expectations due to management’s excellent execution of a strong strategic vision. As a result, Amerijet generated strong revenue and EBITDA growth, which resulted in an outstanding investment outcome for management, HIG and its investors. We look forward to seeing Amerijet continue its success.”

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