Candlewood Partners is pleased to announce its role as the financial advisor in the recent acquisition of Salt River Aviation, LLC by Weinberg Capital Group (WCG). This acquisition marks a significant milestone in WCG’s expansion into the aviation services sector, particularly in the niche Auxiliary Power Units (APU) market.
Salt River Aviation, established in 2006, has earned a stellar reputation as an APU expert. The company offers a comprehensive range of services, including APU teardown and disassembly, providing APU subcomponents, and other essential airframe parts. Salt River Aviation has become an integral player in the aviation ecosystem, catering to maintenance, repair, and overhaul providers (MROs), OEMs, airlines, lessors, and aftermarket distributors.
Weinberg Capital Group, a seasoned family office, has a diverse investment portfolio spanning various industries. Their decision to acquire Salt River Aviation aligns with their strategy of investing in well-positioned lower middle market companies. They sought Candlewood Partners’ expertise to facilitate this strategic move.
Candlewood played a comprehensive role in this acquisition, starting from the initial evaluation and due diligence of Salt River’s operations to leading the financial underwriting process. Our team expertly managed the sourcing and arrangement of the necessary debt capital while also supporting and negotiating the acquisition and financial agreements. This holistic approach was crucial in helping Weinberg Capital with assessing the viability of the acquisition and ensuring a smooth transition.
This acquisition is a testament to Candlewood’s commitment to providing bespoke financial solutions and strategic advice. Steve Latkovic, Candlewood’s Managing Partner, has further solidified this partnership by joining the Board of Managers at SRA, poised to support Weinberg and the company’s future growth plans.
Salt River Aviation, LLC is a niche provider of Auxiliary Power Units (“APU”), APU teardown and disassembly services, APU subcomponents, and other airframe parts and components. Founded in 2006, Salt River Aviation is known throughout the industry as APU experts, acting as a holistic supplier of APUs, components, and services related to the entire aviation ecosystem including maintenance, repair, and overhaul providers (MROs); OEMs; airlines; lessors; and aftermarket distributors.
Weinberg Capital Group is a family office that seeks to acquire well-positioned lower middle market companies. They have experience investing across a broad range of industries including manufacturing, business services, aviation services, consumer products, and value-added distribution. They pride themselves on combining financial expertise with strong operating backgrounds capable of supporting management teams. Working closely with owners and management, they establish a true partnership to determine the proper strategy to maximize the company’s opportunities and build the business.
Candlewood Partners is a Cleveland, New York, and South Florida-based boutique investment bank and advisory firm. Since 2001, Candlewood has supported the needs of middle market companies worldwide, successfully tackling complex engagements that others cannot.