Posted: October 20, 2021 at 4:21 p.m. CDT|Update: 1 hour ago
CHICAGO, 20 October 2021 / PRNewswire / – Concentric Equity Partners (âCEPâ), the direct investment arm of Financial Investments Corporation, and Northaven Capital Partners (âNCPâ), a family office backed investment firm, announced the sale from Airway Services LLC (“Airway” or the “Company”), a provider of repair, maintenance and construction services for large-scale wind projects, to Takkion TP&L Holdings LLC.
Founded in 2009, Airway Services has grown to become one of the nation’s leading independent service providers for major wind power equipment manufacturers and asset owners in the United States. Over the past 12 years, the Airway team has provided on-demand technical staff, project management, and operations solutions for large-scale renewable energy projects. âAirway has grown rapidly by maintaining the focus on integrity, safety, quality and customer service,â said Adam lucas, vice-president at Concentric Equity Partners.
The sale of Airway marks the end of a two-year partnership between CEP, NCP, the Company and its CEO, Hunt the Horde, where Airway has considerably developed its base of qualified technicians and its partnerships with the main equipment manufacturers in the industry, entered new end markets in the renewable energy sector and broadened its range of essential services. âFinding, supporting and empowering a first-class management team is half the battle,â said Barrett Lidji, a partner at Northaven Capital Partners, “and the Airway team and culture continue to thrive.”
âWe are proud to have developed an organization committed to serving both customers and employees and we are delighted that Takkion is continuing our mission,â said Rob swartz, partner at Northaven Capital Partners and operational partner at Concentric Equity Partners.
“We are delighted to join forces with the Takkion team,” said Hunt the Horde, CEO of Airway. âThe basis of our success continues to lie in having and developing a strong team with the best technicians. We continue to take an âold-fashionedâ approach to the service industry by exemplifying high integrity, accountability and transparency. with our customers and stakeholders. The combination of our organizations will bring a history of strong customer relationships, unique service offerings and the ability to leverage strategic solutions for the growing renewable services market.
Cascadia Capital LLC and Foley & Lardner LLP represented and acted as financial advisor and legal counsel, respectively, to Concentric Equity Partners, Northaven Capital Partners and Airway Services in connection with the transaction. Vinson & Elkins LLP acted as legal counsel to Takkion.
About Concentric Equity Partners:
Concentric Equity Partners is a private investment firm that partners with leading mid-market companies in providing capital and strategic advice to accelerate long-term value creation. Concentric’s approach is simple: to support entrepreneurs and operators by providing the resources necessary to achieve extraordinary results. The company’s investment team is made up of individuals with distinguished backgrounds as professional operators and investors in a variety of growth-oriented mid-market companies.
Concentric Equity Partners is the direct investment arm of Financial Investments Corporation, a private asset management firm and family office with over $ 2 billion in investment commitments under management. Financial Investments Corporation was founded in 1994 by a father and daughter Harrison and Jennifer Steans and has been working in partnership with private companies for over 25 years.
You can find out more about www.ficcep.com.
About Northaven Capital Partners:
NCP is a supported multi-family office Texas Investment company focused on executive buyouts, partner buyouts and growth capital investing both controlling and minority stakes. Northaven Capital is an operating company that invests in high growth potential lower middle market companies. We focus on collaborative partnerships with experienced, motivated and ethical management teams to create alignment and drive value. Our managers have extensive experience as operators and transaction professionals in various industries and transaction sizes. Northaven Capital has a long term investment horizon to support significant long term growth.
You can find out more about www.NorthavenCapital.com.
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SOURCE Concentric Equity Partners
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