US-based private equity firm AE Industrial Partners (AEI) has acquired a majority stake in Yingling Aviation for an undisclosed fee.
Yingling Aviation’s chairman and CEO, Lynn Nichols and president, Andrew Nichols are to remain active leaders and investors in the newly-acquired Wichita, Kansas-based FBO and MRO.
AEI has made numerous investments in business aviation companies over recent years, such as Alpine Air, Global Jet Capital, Landmark Aviation, Solairus Aviation and StandardAero. Jon Nemo, senior partner, AEI said this investment signifies the start of the company’s plan to strengthen its services to business aviation.
“We have known Yingling Aviation and its owners for several years and are excited to be partnering with them to continue to build this leading platform serving the needs of business aircraft owners and operators,” said Nemo.
Located at Wichita’s Dwight D. Eisenhower National Airport, Yingling’s MRO services include airframe, engine, avionics upgrades, paint, interior, propeller sales and service and parts sales. Founded in 1945, the firm currently operates a 300,000sqft facility with more than 180 employees.
“Yingling Aviation is a very well-recognised brand within the business aviation market and the Wichita community,” said Lynn Nichols, chairman and CEO, Yingling Aviation. “Our partnership with AEI represents another key milestone in our growth story and we look forward to having a partner with their knowledge and operating experience in our market.”
Akerman & Co served as legal advisors to AEI on the acquisition, with Arn Mullins Unruh Kuhn & Wilson and Klenda Austerman serving as legal advisors to Yingling Aviation.
