Terms Of Of The Deal Were Not Announced
The rotorcraft-focused private equity investor Hawke Capital
Partners announced today that it reached agreement to acquire
substantially all of the assets of Keystone Med-Flight Services,
LLC, based in Morgantown, PA. All maintenance for Keystone's air
medical customers will be provided by sister subsidiary Uniflight,
in one of its 3 MRO facilities located in Grand Prairie, TZX,
Reading, PA and Rome, NY. In addition, the addition of Keystone
Med-Flight to the Hawke Capital collection of rotorcraft business
creates the fourth operating entity, adding to existing
subsidiaries Uniflight, Aviation Services Unlimited which provides
non-EMS Part 135 and Part 133 flight services, and Hawke Aircraft
Holdings, Inc. Keystone Med-Flight operates a Part 135 certificate
with EMS Operations Specifications.
Joe Hawke, Chairman of Hawke Capital and President and CEO of
Uniflight, said, "The addition of Keystone Med-Flight to the Hawke
Capital family of companies marks a very special moment in the
development of our business. It enables us to reconnect with one of
the most experienced and well regarded leadership teams in the HEMS
industry, and it will undoubtedly provide the opportunity to expand
even further our Northeastern U.S. operations. In addition, it
represents a unique opportunity to resurrect the Keystone brand
that was so beloved by the Flight Services customers for the 25
years that the division was in operation. We could not be happier
about the opportunity to partner with Rick Hinkle, or his partners
in Keystone Med-Flight, Jack Hustwit and Steve Weinert."
Rick Hinkle, President of Keystone Med-Flight, added, "It is
very rewarding to have reached the point that we can publicly
announce this transaction. Joe Hawke and I worked closely together
when we were both involved with Keystone Helicopter Corporation,
and, to borrow Yogi Berra's phrase, it has been "déjà
vu all over again" watching Hawke Capital acquire Uniflight and
develop its holdings in the helicopter industry. We are excited
about having the opportunity to once again serve our customers with
the same high quality of service that they became accustomed to at
Keystone. The backing of Hawke Capital and the MRO support from
Uniflight will ensure that we can make good on that promise."
Hawke Capital Partners is led by an Advisory Board chaired by Joe
Hawke. Board members include Greg A'slinger, Paul Rayhill, and,
with this acquisition, will expand to include Rick Hinkle. HCP
continues to seek complementary acquisitions that will expand both
the MRO and flight service lines of its operating subsidiaries.
Debbie Ginn-Frost
In a related development, Uniflight, LLC announced that it has
hired Debbie Ginn-Frost to become its Director of Customer
Relationship Management at the headquarters of its flagship MRO
operations in Grand Prairie, Texas. Ms. Ginn-Frost has 32 years of
rotorcraft maintenance, repair and support (MRO) experience and is
one of the most accomplished executives in the area of parts,
logistics support and aftermarket fleet support in the helicopter
industry.
"I am really excited to join Uniflight in this new role as
Director of Customer Service Management," she said. "It will once
again give me the opportunity to provide the broad-based support to
my loyal customers whom I have known in some cases for decades and
whose fleets it has been a passion for me to care for. It is also
rewarding to be able to join a growing business in a time when so
many other businesses are not hiring."
ANN's Daily Aero-Linx (04.16.24)
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