Summit Park is pleased to announce it has completed a majority recapitalization of Elliott Aviation, LLC (“Elliott” or “the Company”), a provider of maintenance, repair and overhaul (“MRO”), fixed based operations (“FBO”) services, and aircraft sales and brokerage services to the business aviation industry.

Headquartered in Moline, Illinois, and founded in 1936, Elliott serves as one of the business aviation industry’s most trusted brands, providing a diverse suite of services primarily to mid-cabin turboprop and business jet aircraft operators. Elliott’s one-stop MRO service offering includes airframe maintenance, avionics maintenance and upgrade, paint, interior repair and retrofit, and several other related services. This one-stop offering is critical to customers who seek to limit aircraft downtime with each maintenance visit. Elliott’s best-in-class customer service and industry-renowned brand attract a large, diverse base of aircraft operators from across North America. The Company operates primarily out of its flagship facility in Moline, IL, but also provides services from its other facilities in Eden Prairie, MN, and Des Moines, IA. Under the Elliott Jets brand, the Company also provides used aircraft sales and brokerage and is an authorized dealer of new TBM aircraft in several Midwestern states.

“As a family-owned business, we have strived throughout our 80+ year history to provide the highest levels of quality and service for our customers,” said Wynn Elliott, Chairman of Elliott. “We are excited about pursuing additional growth opportunities in partnership with Summit Park.”

“Elliott Aviation has a long-standing reputation for providing first class service to the business aviation industry,” Bob Calton, Co-Founder of Summit Park said. “We are excited to begin our partnership with Greg Sahr and the leadership team of Elliott and look forward to capitalizing on numerous avenues of growth that they have identified for the business. Importantly, given Elliott’s rich legacy as a family-owned business, we are pleased that Wynn Elliott will retain an ownership position in Elliott in partnership with us.”

Greg Sahr, CEO of Elliott, added, “Elliott is well-positioned to continue gaining share through our differentiated service offering, and we believe Summit Park is the ideal partner to help accelerate growth. We were drawn to Summit Park’s experience in growing founder-owned businesses into larger enterprises, and look forward to collaborating with their team during our next chapter.”

The transaction is the fourth platform investment in Summit Park’s third fund, Summit Park III. Stellus Capital Management, LLC provided the debt financing for the transaction, and Elliott was represented by Harris Williams, a Richmond-based investment banking firm.

About Summit Park

Summit Park is a Charlotte, North Carolina-based private investment firm focused exclusively on the lower middle market. The firm invests across a range of industries, including business and consumer services, light manufacturing and value-added distribution in the Eastern half of the United States. The firm’s capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan. For more information, visit www.summitparkllc.com. 

About Elliott Aviation

Elliott Aviation has been developing and delivering aviation solutions to their partners for over 80 years. As one of the longest-standing companies in aviation, they offer a complete menu of high-quality products and services including aircraft sales (as Elliott Jets), avionics service & installations, aircraft maintenance, accessory repair & overhaul, paint & interior. Serving the business aviation industry nationally and internationally, they have facilities in Moline, IL, Des Moines, IA, and Minneapolis, MN. The company is a member of the Pinnacle Air Network, National Business Aviation Association (NBAA), General Aviation Manufacturers Association (GAMA), National Air Transportation Association (NATA), and the International Aircraft Dealers Association (IADA). For more information, visit www.elliottaviation.com.