Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, has announced the sale of its client, Keenan Technical Industries (KTI), to Flightcheck Commercial Aviation Services (a portfolio company of Lineage Capital). The acquisition closed on December 15, 2023. Since its founding in 1990, Keenan Technical Industries (KTI) has been a full-service provider of aircraft maintenance services to airline operators at Bradley International Airport (BDL) in Windsor Locks, Connecticu and, starting in 2022, at Manchester-Boston Regional Airport (MHT).
Headquartered in Bensenville, Illinois, Flightcheck Commercial Aviation Services (Flightcheck) was founded in 2004 and provides line maintenance, de-icing and ground handling services for domestic and international cargo and commercial airlines. With the addition of KTI, Flightcheck's geographic footprint spans ten locations across the United States.
“The acquisition of KTI marks an exciting milestone for Flightcheck,” said Wayne Jimerson, Flightcheck's CEO and President. “KTI established a strong regional market position by providing best-in-class customer service and demonstrating an unwavering commitment to safety, making this a compelling opportunity to expand Flightcheck's footprint into the Northeast region and deliver top-quality services to our customers across multiple locations. We are very pleased to welcome KTI mechanics to the Flightcheck family.”
Lineage Capital (Lineage) is a Boston-based private equity firm that invests exclusively in owner-managed businesses. Lineage's unique partnership approach provides business owners with significant liquidity, while enabling them to retain a meaningful ownership stake in their company and continued control of the board of directors. Lineage focuses on high-quality, lower-middle- market businesses with EBITDA greater than US$4 million (£3.15 million) that desire a value-added partner to facilitate their future growth and success.
