Monday, December 23, 2024

Harris Williams Advises West Star Aviation on its Sale to The Sterling Group

Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised West Star Aviation (West Star), a portfolio company of Norwest Equity Partners (NEP), on its sale to The Sterling Group (Sterling). West Star is a leading independent provider of maintenance, repairs and operations (MRO) services to the business aviation industry. The transaction was led by Chris Rogers, Doug Kinard, David Jones, Evan Clark and Kevin Winton of the Harris Williams Aerospace, Defense & Government Services (ADG) Group.

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“It was a pleasure working with the West Star and NEP teams on this transaction,” said Doug Kinard, a managing director at Harris Williams. “This is the second time we have worked with West Star, and it has been impressive to watch the company more than double in size under NEP’s ownership and firmly establish itself as the go-to provider of MRO services for every major airframe type in business aviation.”

“West Star represents another marquee transaction for Harris Williams in the business aviation sector,” added Chris Rogers, a managing director at Harris Williams. “From leading FBOs and maintenance providers, to supply chain management and distribution businesses, we have seen firsthand how strong investor interest is in this sector. We expect business aviation to continue to be an active sector for M&A in the foreseeable future.”

West Star is a leading independent provider of MRO services to the business aviation industry. The company services business jets manufactured by every major aircraft OEM. West Star’s comprehensive capabilities at multiple locations and expansive industry expertise enable the company to fully support business jet owners and operators globally.

Founded in 1961, NEP is a leading middle market investment firm with offices in Minneapolis and West Palm Beach, Florida. NEP invests equity capital in companies that are leaders in their industry with a proven business model which have demonstrated the ability to generate profits. NEP is currently investing NEP X, a $1.6 billion fund.

Founded in 1982, Sterling is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $750 million. Sterling has sponsored the buyout of 61 platform companies and numerous add-on acquisitions for a total transaction value of over $14 billion. Sterling recently closed its fifth investment fund with $2 billion in commitments and currently has over $5.7 billion of assets under management.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc.

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