New State Capital Partners has acquired Avex, a provider of sales and maintenance for the Daher TBM turboprop aircraft.
Avex is an exclusive distributor of new TBM aircrafts in the southwestern United States. The firm services over 1,000 TBM aircrafts and manages a maintenance and aftermarket services business.
“AVEX has been my life’s work, so selecting the next owner of the business was not a task I took lightly,” said Terry Winson Avex founder. “From our first interaction, New State clearly stood out as the best partner for AVEX. They were absolute professionals, acting with integrity at every step. I am truly excited for them, as well as for our customers and the team at AVEX. I am quite confident of their future success.”
“The acquisition of AVEX marks a new chapter for New State as we launch a broader platform focused on aviation,” said Daniel Han, senior principal at New State. “AVEX was an ideal anchor investment for this strategy, due to the strength of the business Terry and the team have built.”
Jefferies, LLC acted as advisor for New State. JANAS Associates acted as advisor for AVEX.