M&A Deal Summary

Southwest Acquires Morris Air

On December 1, 1993, Southwest acquired aerospace company Morris Air from Weston Presidio for 134M USD

Acquisition Highlights
  • This is Southwest’s 1st transaction in the Aerospace sector.
  • This is Southwest’s 2nd largest (disclosed) transaction.
  • This is Southwest’s 2nd transaction in the United States.
  • This is Southwest’s 1st transaction in Utah.

M&A Deal Summary

Date 1993-12-01
Target Morris Air
Sector Aerospace
Buyer(s) Southwest
Sellers(s) Weston Presidio
Deal Type Add-on Acquisition
Deal Value 134M USD

Target

Morris Air

Salt Lake City, Utah, United States
Morris Air was a regional discount airline based in the Western United States.

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Buyer(S) 1

Buyer

Southwest

Dallas, Texas, United States

Category Company
Founded 1967
Sector Airlines
Employees74,081
Revenue 26.1B USD (2023)
DESCRIPTION
Entrance to Southwest's corporate headquarters in Dallas, Texas.
Entrance to Southwest's corporate headquarters in Dallas, Texas.

Southwest is a discount airline serving the US market. Southwest serves more then 100 destinations in 40+ states, the District of Columbia, the Puerto Rico, and five near-international countries via wholly owned subsidiary, AirTran Airways. Southwest was formed in 1967 and is based in Dallas, Texas.


DEAL STATS #
Overall 2 of 5
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Utah) 1 of 1
Country (United States) 2 of 5
Year (1993) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1987-07-30 Muse Air

Dallas, Texas, United States

Muse Air is a regional airline serving the southwest US. The Company was originally established in 1981 and headquartered in Dallas, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-21 ATA Airlines

Indianapolis, Indiana, United States

ATA Airlines was a discount airline that operated primarily in the East Coast of the US. It was formed in 1973 and went bankrupt in 2008.

Buy $8M

Seller(S) 1

SELLER

Weston Presidio

Boston, Massachusetts, United States

Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Weston Presidio is a private investment firm focused on providing growth capital to later stage companies. The Firm looks to commit $10 to $50 million per investment to support growth initiatives, recapitalizations, and management-led buyouts. Sectors of interest include consumer products/services, business services, manufacturing and industrial, media/publishing, healthcare and technology. The Firm prefers to act as the lead investor, but will consider investing in select non-control minority positions. Weston Presidio was formed in 1991 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 52
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 1 of 23
State (Utah) 1 of 1
Country (United States) 1 of 49
Year (1993) 1 of 1
Size (of disclosed) 15 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-10-06 Lion Beverage

Wilkes-Barre, Pennsylvania, United States

Lion Beverage is a full-service contract manufacturer of specialty beverages including energy drinks, non-alcoholic brewed beverages, better-for-you sodas, and craft beer. Lion Beverage offers brewing, blending, canning, bottling, and packaging services for an array of customers including large national beverage brands. Lion Beverage is based in Wilkes-Barre, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1996-01-01 Lion Beverage

Wilkes-Barre, Pennsylvania, United States

Lion Beverage is a full-service contract manufacturer of specialty beverages including energy drinks, non-alcoholic brewed beverages, better-for-you sodas, and craft beer. Lion Beverage offers brewing, blending, canning, bottling, and packaging services for an array of customers including large national beverage brands. Lion Beverage is based in Wilkes-Barre, Pennsylvania.

Sell -