River Capital and Management Acquire Piedmont Aviation Services, Inc.
River Capital, an Atlanta-based private investment firm, has acquired Piedmont Aviation Services, Inc. (“Piedmont Aviation”) from US Airways. The purchase price was not disclosed.
Piedmont Aviation Services, Inc., based in Winston-Salem, North Carolina, operates general aviation facilities serving the corporate, charter and private aviation markets. The Company also provides maintenance and overhaul services, charter services, flight training, and aircraft sales.
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.