Corbett Keeling is pleased to announce it has advised the founders and other shareholders of Air Charter Service Group Limited (“ACS”) on the sale of a minority stake in ACS to private equity investor Alcuin Capital Partners (“Alcuin”).
ACS is a global leader in the aircraft charter market. Founded in 1990 by Chairman Chris Leach, it now employs a worldwide staff of more than 350 employees across 20 offices spanning six continents. The group offers private jet, commercial airliner and cargo aircraft charters, arranging more than 10,000 charters annually.
Christopher Leach, Co-Founder and Chairman of ACS, said: "It was a pleasure dealing with Jim Keeling and his team throughout the process. We wanted to find the right partners and to do the right deal for us – Corbett Keeling delivered just that."
Justin Bowman, Chief Executive Officer of ACS, said: “The fact that this company has grown from the basement of a house to the largest charter brokerage in the world is a huge achievement and testament to our amazing team and corporate culture. However, we are still an ambitious organisation. Our growth to date has been entirely organic and whilst we will continue to follow those strategies that have been successful in the past, we wish to accelerate our expansion through capital investments in both technology and acquisitions of complementary businesses.”
Adrian Lurie, Partner of Alcuin Capital Partners said: “Air Charter Service is a leader in its field with a great team and strong track record of profitable growth. Their plans going forward are exciting and we are looking forward to working with them in this next phase of the business’ development. Corbett Keeling’s insight and understanding of ACS were invaluable and we were delighted to work with Jim Keeling and his team to bring the deal to a successful conclusion."