New Piper's Changing Owners, a Little | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 11.20.17

Airborne-Unmanned 11.21.17

Airborne 11.22.17

AMA Drone Report 11.16.17

Airborne 11.17.17

Airborne-YouTube

Airborne 11.20.17

Airborne-Unmanned 11.21.17

Airborne 11.22.17

AMA Drone Report 11.16.17

Airborne 11.17.17

Tue, Jul 15, 2003

New Piper's Changing Owners, a Little

New Piper Has New Money, Possibly New Owner

Since last night, the rumors have been flying; now, we know something: American Capital Strategies Ltd., out of Bethesda (MD), has purchased a large portion (rumored to be about 3/4) of New Piper's debt. In real money, that comes to about $130 million.

That transaction means two things: the airplane company will have some cash to work with; and American Capital is well on its way to being the owner of record of New Piper.

The announcement, as we informed you early this morning, was made by New Piper's President, Chuck Suma, at a very special press conference in New York city. He was enthusiastic: "The American Capital investment is a major step in the right direction for New Piper," he told assembled financial reporters.

American Capital's Managing Director (and Senior VP), Gordon O’Brien, seemed happy with the deal, and with New Piper's management: "The exceptional leadership of The New Piper management team, the company’s strong dealer network, its dedicated and skilled workforce were major factors in deciding to invest additional capital in the company." He continued, "We have watched Chuck Suma and his team rebuild New Piper into an innovative leader in general aviation, despite what has been a particularly tough economic climate."

It looked like the right company, at the right time, O'Brien continued. "We think New Piper is now poised to become even stronger as the economy -- and general aviation, in particular -- rebound."

After all the dust settles in a couple weeks, will any of the 800 or so former employees be recalled? It may be too early to tell, but President Suma did not rule out the possibility. After all, that's what a recovery plan is all about -- and, as New Piper has new money, and the industry itself is actually starting to stagger to its feet, why not?

FMI: www.newpiper.com; www.american-capital.com

Advertisement

More News

Airborne 11.22.17: AOPA Plays Icon Apologist, Lancair Mako, Mooney Ovation Ultra

Also: Airbus A380 Deal, Acting PM Belize In A/C Accident, Hartzell Propeller, Crop Duster Shooting ANN’s senior editorial staff was stunned to read a recent article by the AO>[...]

Airborne 11.22.17: AOPA Plays Icon Apologist, Lancair Mako, Mooney Ovation Ultra

Also: Airbus A380 Deal, Acting PM Belize In A/C Accident, Hartzell Propeller, Crop Duster Shooting ANN’s senior editorial staff was stunned to read a recent article by the AO>[...]

Aero-News: Quote of the Day (11.23.17)

"We take great pride in our Goodyear Blimp crews teaming up with the U.S. Marine Corps Reserve to support Toys for Tots." Source: Paul Fitzhenry, senior vice president, Global Comm>[...]

AMA Drone Report 11.16.17: Drone Registration, Drone Journalists Jailed

Also: Terror Advisory, DRL Sim, SureFly Octocopter, Space Needle Drone Pilot, FAI-ASFC World Fly-In Expo A bill that includes a return to civilian drone registration has been inclu>[...]

ANN Wishes Our Readers, Listeners And Viewers A VERY Happy Thanksgiving Holiday

Yes... We Will Be On A Holiday Schedule For The Rest Of Week As the Aero-News staff observes the US holiday of Thanksgiving on Thursday, we wanted to let our readers know that ANN >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC