Graycliff Partners has completed its first new platform investment since spinning out of HSBC last December, picking up a majority stake in Skandia. The company provides interior products and services, such as DAX foam and flammability testing services, to the aviation industry. Financing for the transaction was provided by East West Bank and Brookside Mezzanine Partners.
Private equity investment in the Air Transportation industry is catching some lift after encountering turbulence in the aftermath of the financial crisis. According to the PitchBook Platform, PE investors have invested in 108 Air Transportation-related companies since the beginning of 2007. 25 investments in the industry were completed last year, a strong rebound from a low of only 10 in 2009. So far this year, 7 deals have closed, putting 2012 slightly behind schedule to match 2011's deal pace, but there's still plenty of time left in the year for investment in the industry to really take off.
*2012 to date
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