M&A Deal Summary

Directional Aviation Capital and Next Sparc Growth Partners Acquire Flexjet

On September 5, 2013, private equity firm Directional Aviation Capital and growth capital firm Next Sparc Growth Partners acquired transportation company Flexjet from Bombardier for 185M USD

Acquisition Highlights
  • This is Directional Aviation Capital’s 3rd and Next Sparc Growth Partners’ 1st transaction in the Transportation sector.
  • This is Directional Aviation Capital’s and Next Sparc Growth Partners’ largest (disclosed) transaction.
  • This is Directional Aviation Capital’s 4th and Next Sparc Growth Partners’ 2nd transaction in the United States.
  • This is Directional Aviation Capital’s 2nd and Next Sparc Growth Partners’ 2nd transaction in Ohio.

M&A Deal Summary
Date 2013-09-05
Target Flexjet
Sector Transportation
Buyer(s) Directional Aviation Capital
Next Sparc Growth Partners
Sellers(s) Bombardier
Deal Type Divestiture
Deal Value 185M USD

Target

Flexjet

Richmond Heights, Ohio, United States
website
Flexjet offers a range of private-jet services including: fractional ownership, leasing, charter memberships and aircraft management. Flexjet was founded in 1995 and is based in Richmond Heights, Ohio.

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Buyer(S) 2

Buyer

Directional Aviation Capital

Investor Investor

website

Category Private Equity Firm
Founded 1981
Size Large
Type Sector Focused
DESCRIPTION

Directional Aviation Capital is a private investment and holding company focused on the aviation sector. Specific areas of interest include fractional jet ownership, jet cards, charter, fleet management, remanufacturing, and aviation parts distribution. Directional Aviation Capital was established in 1981 and is headquartered in Cleveland, Ohio.

DEAL STATS #
Overall 4 of 5
Sector (Transportation) 3 of 3
Type (Divestiture) 2 of 2
State (Ohio) 2 of 2
Country (United States) 4 of 5
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-14 Sentient Jet

Quincy, Massachusetts, United States

Sentient Jet is a private aviation company involved in providing expert service and renowned safety. Sentient Jet was formed in 1999 and is based in Quincy, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-19 Simcom

Orlando, Florida, United States

Simcom is a privately-owned, comprehensive learning institution, SIMCOM utilizes realistic simulator-based training to provide advanced aviation training services to professional pilots, owner-operators, Part 135 operators and maintenance personnel operating in general aviation, regional, military, government and cargo operations around the world. Simcom was founded in 1989 and is based in Orlando, Florida.

Buy -
Buyer

Next Sparc Growth Partners

Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 2 of 12
Sector (Transportation) 1 of 1
Type (Divestiture) 1 of 1
State (Ohio) 2 of 4
Country (United States) 2 of 11
Year (2013) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-18 COMS Interactive

Hudson, Ohio, United States

COMS Interactive LLC offers software solutions that help healthcare facilities more effectively treat and monitor their patient population. The company’s software dramatically reduces hospital readmissions, improves patient quality of life, enhances communication among providers, and reduces payer costs. COMS Interactive was founded in 2009 and is based in Hudson, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Vitalia

Saint Charles, Missouri, United States

Vitalia is a colorful spectrum of age-targeted lifestyle communities offering a range of living options from 55+ villas and independent living to assisted living and memory care. Vitalia is based in Saint Charles, Missouri.

Buy -

Seller(S) 1

SELLER

Bombardier

Dorval, Quebec, Canada

website

Category Company
Founded 1902
Sector Aerospace
Employees15,200
Revenue 6.9B USD (2022)
DESCRIPTION

Bombardier together with its subsidiaries, manufactures transportation equipment worldwide. Bombardier was founded in 1902 and is headquartered in Dorval, Canada.

DEAL STATS #
Overall 1 of 9
Sector (Transportation) 1 of 2
Type (Divestiture) 1 of 7
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 2
Size (of disclosed) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1990-06-29 Learjet

Wichita, Kansas, United States

Learjet is an aerospace manufacturer of business jets for civilian and military customers based in Wichita, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-01 BRP

Valcourt, Quebec, Canada

BRP is a global designer, developer, manufacturer, distributor and marketer of powersports vehicles. Its portfolio of brands and products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am all-terrain and side-by-side vehicles, Spyder roadsters, Evinrude outboard engines, as well as Rotax propulsion systems. BRP was founded in 1937 and is based in Valcourt, Canada.

Sell $879M
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