Funds managed by global investment firm Carlyle are to sell PrimeFlight Aviation Services (PrimeFlight), a provider of essential aircraft, passenger, and security-related services to commercial airline, airport, cargo, and general aviation customers, to Capitol Meridian Partners and The Sterling Group.
Financial terms of the transaction, which is expected to close by Q3 2023 upon satisfaction of customary closing conditions, have not been disclosed.
The Sterling Group and Capitol Meridian Partners have acquired the business in a 50/50 partnership.
Latham & Watkins, LLP is serving as legal counsel to PrimeFlight and Carlyle, and Morgan Stanley & Co LLC and Jefferies, LLC served as financial advisors to PrimeFlight. McDermott Will & Emery is serving as legal counsel to Capitol Meridian Partners and The Sterling Group.
