Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses, is pleased to announce the acquisition of its client, Phoenix Rising Aviation, Inc. (PRA), headquartered in Bartlesville, Oklahoma, by Saker Aviation Services (Saker), headquartered in Avoca, Pennsylvania. The acquisition closed on August 20, 2013.
PRA is located approximately 45 miles north of Tulsa, where it offers MRO (maintenance, repair, and overhaul) services specializing in Dassault Falcon jets. PRA specifically focuses on servicing Falcon jets that Dassault no longer produces. The Company competes very effectively for this business given its deep understanding of Falcon aircraft and advantageous location in Oklahoma. "On behalf of all the employees of PRA, we are pleased to join Saker and eagerly anticipate increasing and expanding our business in this new relationship," state Warren Peck, Vice President of PRA.
Managing Director Terry Mackin and Kyle Coe, along with their affiliate Fred Phillips, led the Generational Equity deal team that advised PRA on the transaction. Saker provides Fixed Base Operations (FBO) flight support services through a growing chain of US based facilities. Products include, but are not limited to, aircraft fueling, MRO, charter, hangar/tie-down, facility management, pilot support services, ground handling, operational consulting and other related services.
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