Directional Aviation Capital is buying Bombardier Inc.’s Flexjet unit for an undisclosed amount.
Flexjet is a fractional jet ownership services provider. It is being purchased by newly-formed Directional Aviation portfolio company Flexjet LLC. As part of the deal, Flexjet will order 85 business jets, with the option to order up to 245 jets.
Directional Aviation, a Richmond Heights, Ohio-based private equity firm that focuses only on business aviation, already owns Flight Options, which operations a private aviation fleet, and Sentient Jet, which provides private jets. The firm is also invested in Nextant Aerospace, Constant Aviation and Everest Fuel Management.
In April, the firm entered into a joint venture with Resilience Capital to acquire a stake in Aerospace Products International.
Other recent aerospace deals include Bel Fuse Inc.’s (Nasdaq: BELFA) acquisition of Array Connector Corp., and Erickson Air-Crane Inc.’s (Nasdaq: EAC) purchase of Air Amazonia Servicos Aeronauticos Ltda.