Houlihan Lokey served as Financial Advisor to Jet Support Services, Inc.
JSSI(R) Shifts Ownership for the Future
CHICAGO, June 11, 2008 /PRNewswire via COMTEX/ -- Jet Support Services, Inc. (JSSI(R)) announced today that R.H. Book LLC and 1848 Capital Partners LLC, two leading private equity firms, have acquired the Company. The agreement, reached between the shareholders of JSSI and Bob Book, Chairman of R.H. Book LLC, and principals of 1848 Capital Partners LLC, was finalized at the end of May.
The new owners plan to expand JSSI’s market share and broaden the Company’s extensive line up of hourly cost maintenance guarantee programs for business aircraft engines and airframes.
"We have grown this business from an idea and a few partners to over one hundred dedicated employees and more than fourteen hundred great customers," commented John F. Haskins, President and CEO of JSSI since its inception in 1989. "Our success will only continue, along with the service and commitment level from the entire JSSI team."
"We are very excited about the potential we see to expand the JSSI enterprise," explained Joseph DaGrosa, Jr., a Partner of 1848 Capital Partners LLC. "The success that JSSI has experienced indicates the superb leadership and customer focus they have provided over the years. We will continue to build on the JSSI reputation and vision for the future."
JSSI began 19 years ago by offering turbine engine programs and subsequently expanded into entire airframe coverage with its exclusive Tip-To-Tail(R) series. Providing the most extensive hourly maintenance coverage in the industry, JSSI continues to expand the Tip-To-Tail program, and, by teaming with aircraft manufacturers and developing relationships with major corporations, JSSI continues to add value to its JSSI customer relationships.
JSSI’s customer service is its number one focus for the future. Significant enhancements to MyJSSI.com and the creation of a new relationship-based Client Services team will streamline and improve the way aircraft operators do business with JSSI.
R.H. Book LLC and 1848 Capital Partners LLC will look for additional ways to develop and expand JSSI’s programs to cover even more airframes and engines especially in light of recent and projected overall industry growth.
Founded in 1989, JSSI is the only independent provider of hourly cost maintenance programs for aircraft engines and airframes. JSSI provides its customers with comprehensive, flexible and affordable financial tools for managing the often unpredictable costs of operating and maintaining nearly all types of turbine-powered aircraft, including jets, turbo-props and turbine powered helicopters. JSSI serves customers globally and manages maintenance services through its worldwide network of technical advisors. For more information please visit http://www.askjssi.com.
Contact: Marj DeLong
SOURCE Jet Support Services, Inc.
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