Japanese Conglomerate Acquires Idaho Airplane Manufacturer
Quest Aircraft Company has signed an agreement for its acquisition by Setouchi Holdings Inc., a member of Tsuneishi Group. Tsuneishi Group is a well-established global entity headquartered in Hiroshima, Japan with roots in the shipbuilding, transportation and related industries.
“We are very excited to have a strong organization such as Tsuneishi Group believe in Quest, our products and our philosophy and invest its resources in the company,” said Sam Hill, Quest Aircraft CEO. “Over the last few years, we have experienced steady growth and with new financial capitalization and a shared understanding of the potential opportunities in the marketplace for expansion, we are looking forward to significant growth for Quest in the years ahead.”
Setouchi Holdings, Inc. is one of the key entities of Tsuneishi Group, and its involvement in the aviation industry began with its subsidiary company, Setouchi Trading, Inc., which is an authorized Kodiak dealer.
Quest will remain headquartered in Sandpoint, Idaho, as will the manufacturing operations. The existing leadership team, led by Sam Hill, will continue to oversee and manage the organization. As production ramps up and growth in other areas of the company increases, plans for both physical and personnel expansion will be developed and implemented.
“Quest has positioned itself to be attractive to outside investors to help us grow the company, and we feel we have the perfect fit with Tsuneishi Group,” continued Hill. “They have extensive experience in manufacturing along with other global capabilities which will benefit us greatly. In addition, their corporate philosophy is similar to ours in how they treat their customers and employees and in how they view their place in the world.
“They also believe strongly in the Kodiak, and want to help us make Quest the leading manufacturer of single-engine turboprops in the world,” Hill added. “We are very enthusiastic about the future.”
Quest Aircraft Company, headquartered in Sandpoint, Idaho, is the manufacturer of the Kodiak, a 10-place single engine turboprop airplane, designed for STOL use and float capability. It offers proven turbine reliability with the Pratt & Whitney PT6 turbine engine, can take off in under 1,000 feet at full gross takeoff weight of 7,255 lbs and climb at over 1,300 feet per minute.
Kodiaks are in operation around the world in key market segments including personal use, Part 135 operations, government, and humanitarian organizations. The Kodiak is certified in 17 countries, with several additional certifications imminent.
(Images from file)
ANN's Daily Aero-Linx (05.02.24)
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