River Capital Represents Piedmont Aviation Services, Inc., American Beechcraft Company and Transportech Corp. in a Sale to The Carlyle Group
River Capital, an Atlanta-based private investment firm, has represented Piedmont Aviation Services, Inc. (“Piedmont Aviation”), American Beechcraft Company (“American Beechcraft”) and Transportech Corp (“Transportech”) in their sale to affiliates of The Carlyle Group. Piedmont Aviation operates general aviation facilities serving the corporate, charter and private aviation markets in North Carolina and Virginia. The Company also provides maintenance and overhaul services, charter services, flight training, and aircraft sales. American Beechcraft Company operates general aviation facilities in Leesburg, Virginia. Transportech operates general aviation facilities Raleigh, North Carolina. During 1997, the combined companies recorded revenues of approximately $156 million comprised of fixed based operations, aircraft sales, maintenance and overhaul, and charter management.
River Capital is one of the oldest firms of its type in the Southeast and has acquired companies in a broad range of industries with combined annual revenues in excess of $600 million. River Capital primarily invests in light manufacturing, distribution and select service companies with purchase prices of $10 million to $50 million. For add-on acquisition candidates, the firm will consider companies with a purchase price less than $10 million.