Blackhawk Aerospace, a provider of engine upgrades for a variety of turboprop aircraft, has sold its majority ownership to New State Aviation Holdings, a general aviation-focused platform of private equity firm New State Capital Partners.
Terms of the transaction were not disclosed.
New State acquired AVEX, a provider of sales and maintenance for the Daher TBM turboprop aircraft, in December 2021. Gaining a majority stake in Blackhawk will allow the two companies to collaborate and further expand New State’s aviation offerings, the company says. Both companies will continue to operate independently from one another, and Blackhawk’s management will remain with the company.
“This transformative acquisition more than doubles the size of our business and allows us to expand aircraft platforms serviced,” says Chad Cundiff, New State Aviation Holdings CEO.
Blackhawk will “mesh seamlessly with AVEX,” says Daniel Han, a principal at New State and chairman of New State Aviation Holdings. “We believe this combination will build on the strengths at AVEX, expand our capabilities and enable us to provide the highest levels of service, quality, and expertise in general aviation.”
Blackhawk, based in Waco, Texas, serves the commercial and defense markets and employs more than 60 people. The company was founded in 1999 under the name Blackhawk Modifications, and subsequently added divisions for defense support, maintenance, avionics and aircraft sales.
Blackhawk has additional locations in Huntsville, Alabama, and Columbia, Missouri. A Blackhawk composites division is not included in the transition and will remain independent.
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