Concentric Equity Partners And Northaven Capital Partners Announce Sale Of Airway Services To Takkion
CHICAGO, Oct. 20, 2021 /PRNewswire/ -- Concentric Equity Partners ("CEP"), the direct investing arm for Financial Investments Corporation, and Northaven Capital Partners ("NCP"), a family office backed investment firm, announced the sale of Airway Services LLC ("Airway" or the "Company"), a provider of utility scale wind energy project repair, maintenance, and construction services, to Takkion TP&L Holdings LLC.
Founded in 2009, Airway Services has become one of the nation's top independent service providers for both leading wind energy OEMs and asset owners throughout the U.S. Over the last 12 years, the Airway team has provided on-demand technical staffing, project management, maintenance, and operations solutions for utility-scale renewable energy projects. "Airway has grown rapidly by maintaining its focus on integrity, safety, quality, and customer service" said Adam Lucas, Vice President at Concentric Equity Partners.
The sale of Airway marks the end of a two-year partnership between CEP, NCP, the Company, and its CEO, Chase Hord, where Airway significantly grew its base of skilled technicians and partnerships with leading industry OEMs, entered new end markets in the renewable energy sector, and expanded its mission critical service offering. "Finding, backing and empowering a first-class management team is half the battle" said Barrett Lidji, a Partner at Northaven Capital Partners, "and the Airway team and culture continues to thrive".
"We are proud to have expanded an organization committed to serving both customers and employees and are pleased to have Takkion carry our mission forward," said Rob Swartz, Partner at Northaven Capital Partners and Operating Partner at Concentric Equity Partners.
"We are ecstatic to join forces with the Takkion team," said Chase Hord, CEO of Airway. "The foundation of our success continues to be from the results of having and developing a strong team with best-in-class technicians. We continue to take an 'old school' approach to the service business by exemplifying high integrity, accountability, and transparency with our customers and stakeholders. The combination of our organizations will bring a history of strong customer relationships, unique service offerings, and the ability to leverage strategic solutions to the growing renewable services market."
Cascadia Capital LLC and Foley & Lardner LLP represented and acted as financial advisor and legal counsel, respectively, to Concentric Equity Partners, Northaven Capital Partners, and Airway Services on the transaction. Vinson & Elkins LLP acted as legal counsel to Takkion.
About Concentric Equity Partners:
Concentric Equity Partners is a private investment firm that partners with leading middle market companies by providing capital and strategic advisory to accelerate long term value creation. Concentric's approach is simple: support entrepreneurs and operators by providing the resources required to achieve extraordinary results. The firm's investment team is made up of individuals with distinguished track records as operators and professional investors across a variety of growth oriented middle market companies.
Concentric Equity Partners is the direct investing arm of Financial Investments Corporation, a private asset management firm and family office with over $2 billion in investment commitments under management. Financial Investments Corporation was founded in 1994 by father and daughter Harrison and Jennifer Steans and has been partnering with private companies for more than 25 years.
You can learn more at www.ficcep.com.
About Northaven Capital Partners:
NCP is a multi-family office backed Texas investment firm focused on management buyouts, partner buyouts, and growth capital investing both control and minority equity. Northaven Capital is an operationally focused firm investing in lower middle market companies with strong potential for growth. We focus on collaborative partnerships with experienced, driven, and ethical management teams to build alignment and drive value. Our principals have deep experience as operators and deal professionals across various industries and transaction sizes. Northaven Capital has a long-term investment horizon to support meaningful, long-term growth.
You can learn more at www.NorthavenCapital.com.
SOURCE Concentric Equity Partners
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