Dallas-based private equity firm Trive Capital has entered into a partnership with Field Aerospace.
Field has three facilities in the US and Canada, and specializing in aircraft integration, engineering, modification, and support services for government, aerospace, and defense customers. It specializes in aircraft modification and parts manufacturing with a focus on special-mission aircraft including the DHC-8, Challenger, and Gulfstream platforms.
As part of the transaction, Trive provided a structured capital solution to buy out minority shareholder and former Chairman, Dan Magarian, and to support future growth initiatives of the business.
“The directors and shareholders of Field are delighted to welcome Trive” said Field president and CEO John Mactaggart. “When we purchased Field Aviation in 2012 and ASES in 2015, we planned further acquisitions to enhance the organic growth of Field. Trive not only adds welcome expertise to the leadership of the Company but will bring a fresh perspective to Company growth and open further acquisition opportunities. The remaining original shareholders see this as a logical step in the growth of Field.”
“Field is a differentiated business with highly specialized engineering services that has experienced significant growth over that past decade,” said Magarian. “I am proud of the Company’s accomplishments during this time and am eager to watch its continued success and expansion with Trive’s involvement.”
“Trive has deep experience investing into aerospace and defense businesses and was fortunate to have developed a relationship with the Field ownership team over several years. Field has built an impressive set of capabilities that position it to capitalize on increased spending for modified, special mission aircraft used in ISR data collection,” said David Stinnett, Partner at Trive Capital. “Moreover, our ability to facilitate an innovative structured capital solution and quickly close this complex transaction in the middle of challenging macro-economic conditions, demonstrates Trive’s ability to creatively deploy capital in the current market.”
Hensoldt UK has been chosen by Navantia UK to provide key systems for the UK Royal Fleet Auxiliary’s (RFA) three…
Embraer delivered its 1800th E-Jet aircraft with the handover of third E190-E2 to Royal Jordanian Airlines at Embraer’s facility in…
Havelsan, a Turkiye software and systems company, has attained the European Union Aviation Safety Agency (EASA) Level D certification for…
ST Engineering Marine Ltd, a subsidiary of ST Engineering, has secured a contract with the Singapore Ministry of Defence for…
Airbus Helicopters has secured a contract with Brunei's Ministry of Defence for the procurement of six H145M helicopters. “We are…
Following the official launch last March, AirAsia Cambodia flew its inaugural domestic flight today, marking a major step in the…
Global passenger demand, measured in revenue passenger kilometers (RPKs), was up 13.8% in March this year compared to the same…
Exel Composites, a Finnish composites manufacturer, announced a collaboration with French airship designer and operator Flying Whales. The partnership aims…
Pratt & Whitney Canada (P&WC) and the state-owned airline of Angola, TAAG Angola Airlines E.P., have entered a six-year agreement…
Indonesia’s Ruang volcano erupted again on Tuesday (Apr. 30), leading to the cancellation of flights and closure of airports in…
Defense Technology Institute (DTI) Thailand has delivered two prototypes of the 105mm light howitzer CS/AH2 to the Artillery Battalion, Artillery…
Airbus has announced the launch of the Pléiades Neo Next programme, aimed at bolstering its high-resolution Earth observation satellite constellation,…
Eve Air Mobility joins Japan’s Advanced Air Mobility (AAM) Public-Private Committee, as announced by the company’s press release on Tuesday…
ACIA Aero Leasing, headquartered in Dublin, Ireland, announced the successful delivery of one of two ATR 72-500 Bulk Freighters to…
One TPS-P14ME Mobile Air Surveillance Radar System from Japan was officially handed over to the Philippines Air Force (PAF). The…
Skyllence, an international air charter broker, announced the appointment of Kestutis Abarius as Head of Sales on Monday (Apr. 29).…
Qatar Airways and the United Nations High Commissioner for Refugees (UNHCR) have reaffirmed their commitment to aiding the most vulnerable…
The Philippines Coast Guard (PCG) is set to acquire an additional five Multi-Role Response Vessels (MRRVs) from Japan. These vessels…
Korean Air is set to open a new daily route connecting Seoul Incheon with Macau starting 1 July 2024, as…
Qatar Airways Cargo announced the opening of its advanced Animal Centre and the relaunching of its Next Generation Live product…
All Nippon Airways (ANA) and Air India, India's national flag carrier, have established a commercial agreement to initiate a codeshare…
Saab has completed the delivery of another GlobalEye Airborne Early Warning and Control (AEW&C) aircraft to the United Arab Emirates…
In what seems to be a continuation of Vietnam’s Defence Minister General Phan Van Giang's visit to South Korea in…
GD Helicopter Finance (GDHF), a Dublin-based helicopter leasing and finance company, has secured a contract with Airbus Helicopters and GDAT,…
Indian Low-Cost Carrier (LCC) IndiGo has announced a firm order for 30 Airbus A350-900 aircraft in what is its first…
Racer demonstrator, developed by Airbus Helicopters as part of the European Research Clean Sky 2 initiative, has completed its inaugural…
Lockheed Martin Australia has secured an AUD$500 million contract with the Australian Department of Defence to develop the country’s future…
Artemis Aerospace has announced the addition of a hub in Singapore following the launch of two similar sites in the…
ZeroAvia announced plans to offer key components from its hydrogen-electric engines to fellow innovators in the clean aviation industry on…
Challenge Group has announced the launch of Challenge Technic's specialised A-CHECK line at its hangar facility in Hannover on Wednesday…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.