News Release

Jet Edge International raises $60 million

Jet Edge International, a leading aviation services platform and top ten charter operator in the United States, today announced it has raised $60 million in equity and debt that will be used to fund a number of strategic initiatives. The investment round was led by Solace Capital Partners, a Los Angeles-based private equity firm.

Jet Edge has grown significantly over the past several years and currently manages a fleet of more than 50 large-cabin and super-midsize aircraft, including Bombardier, Dassault, Embraer, and one the world's largest collections of Gulfstream jets. After moving into its brand-new headquarters last year in the heart of the Van Nuys Airport, complete with two modern hangars and state of the art offices, Jet Edge recently expanded in New Jersey's Teterboro Airport, adding 40,000 square feet of hangar space and 4,000 square feet of office space. The company will use the proceeds of this investment to continue its growth by building out additional infrastructure in both new and existing markets, as well as by offering additional value-added services to its aircraft owners and charter clients.

“The new partnership between Jet Edge and Solace Capital is about continuing our commitment to offering our clients the highest levels of service and safety,” said Jet Edge CEO Bill Papariella. “With a strong position in key markets including southern California, Florida, and the New York metropolitan area, we are excited to continue to build our footprint and portfolio of services for our customers, and are thrilled that Solace Capital supports our vision of becoming a global force in the industry.”

“Jet Edge is a market leader in private aviation and is well-positioned within the fastest-growing segments of the industry,” said Christopher Brothers, managing partner at Solace Capital. “We are pleased to support the company through its next phase of growth.”

Jefferies LLC served as the exclusive financial advisor to Jet Edge. Michelman & Robinson LLP served as legal advisor to Jet Edge and O'Melveny & Myers LLP served as legal advisor to Solace Capital.