Salt River Aviation, LLC

Salt River Aviation, LLC logo

Company Background:

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.

Services Provided:

Acquisition Services

Situation

Weinberg Capital Group engaged Candlewood Partners to serve as its advisor and investment bank to evaluate the potential acquisition of Salt River Aviation. Weinberg is a family office experienced in acquiring lower middle market companies with a broad investment portfolio across various industries. Weinberg sought Candlewood's partnership in executing on the entire process of acquiring its new portfolio company.

Transaction Overview

Candlewood provided holistic acquisition support to Weinberg, beginning with an initial evaluation of and due diligence on Salt River’s business, leading financial underwriting, sourcing and managing the debt capital raise, and review, support and negotiation of acquisition and financial agreements. Working with Weinberg, Candlewood arranged a strong capital structure to position the business for future growth. Candlewood’s comprehensive approach was fundamental in helping Weinberg Capital with assessing the viability of the acquisition and setting the stage for the successful integration and management of Salt River Aviation under Weinberg Capital Group’s ownership. In addition, Steve Latkovic, Candlewood’s Managing Partner, joined SRA’s Board of Managers to continue supporting Weinberg and plans for future growth at SRA.

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Candlewood Partners, LLC

Established 2001

Cleveland Office:
(216) 472-6660

600 Superior Ave. East
Suite 1800

Cleveland, OH 44114

New York Office:
(212) 655-9310

477 Madison Avenue
Suite 600

New York, 10022

South Florida Office:

220 Congress Park Dr
Suite 210

Delray Beach, 33445

Securities offered through Candlewood Securities LLC, Member FINRA, Member SIPC. Check the background of this firm on FINRA’s Broker Check.

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