Provo-based Alpine Air Express Inc., a logistics and transportation company providing regional air cargo services in the Intermountain region, has acquired the assets of defunct Great Lakes Airlines. The assets include 27 airplanes and associated engines, propellers, spare parts and ground support equipment. Alpine is a portfolio company of AE Industrial Partners LP (AEI), a private equity firm specializing in aerospace, defense and government services, power generation, and specialty industrial markets. Terms of the transaction were not disclosed.
Great Lakes Airlines stopped flying in March 2018. The regional carrier struggled after the FAA tightened restrictions on the number of flight hours required for commercial pilots flying the types of planes Great Lakes was using.
“This acquisition is highly strategic for our company, significantly expanding our market presence and ability to serve our customers,” said Michael Dancy, CEO of Alpine. “We are excited to grow our fleet, maintenance support and spare parts availability while also utilizing our proprietary supplemental type certificate to convert these acquired Beech 1900D aircraft into our expanding cargo operations.”
“We partnered with Alpine to help the company solidify and grow its leading market position providing regional air cargo transportation services,” said Jon Nemo, senior partner at AEI. “This acquisition is a further testament to our strategy of building our fleet and infrastructure to meet the growing demand for regional air cargo transportation in our targeted geographies.”