West Star Aviation, a Portfolio Company of The Sterling Group, to Combine with Jet East, a Gama Aviation Company

ST. LOUIS, Oct. 17, 2023 /PRNewswire/ -- West Star Aviation ("West Star"), a portfolio company of The Sterling Group ("Sterling"), has signed a definitive purchase agreement to combine with Jet East in the coming weeks following a shareholder meeting of Jet East's parent company, Gama Aviation Plc. West Star is a leading provider of maintenance, repair, and overhaul ("MRO") services to the business aviation industry providing maintenance, modification, and other services to aviation customers. Jet East provides MRO services as well and focuses on supporting fractional and managed fleet operators. Capabilities include an expansive 'Aircraft on Ground' ("AOG") mobile repair technician network, line maintenance operations, heavy maintenance facilities, and other complementary services.

"This combination represents a truly unique opportunity to bring together two completely complementary businesses in terms of capabilities and geographic footprint," said Jim Rankin, CEO of West Star Aviation. "Most importantly, the cultures of both organizations proudly prioritize customer service and a commitment to our people."

"Joining forces with West Star provides so much optimism for everyone involved. As a combined entity, we will be able to provide unparalleled service and support to our collective customer-base with greater depth in providing maintenance solutions. The combination enhances opportunities for our talented workforce as our capabilities increase in size and scope. I am incredibly proud of our team, and the opportunity to partner with West Star is truly amazing," said Stephen Maiden, CEO of Jet East.

"We win for our customers, employees, and vendor partners by continuing to invest in the best talent, people, and capabilities. We couldn't be more excited about welcoming the entire Jet East family to West Star," added Greg Elliott and John Griffin, Board Members of West Star Aviation.

This partnership will bring together two of the best teams in business aviation that together will become stronger through added scale and expanded capabilities. Customers and vendors should expect no change while leaders of each organization work together on longer-term integration planning.

Latham & Watkins LLP served as legal counsel and Jefferies, LLC served as a financial advisor to West Star.

About West Star Aviation

West Star Aviation specializes in airframe repair and maintenance, engine repair and maintenance, major modifications, avionics installation and repair, interior refurbishment, paint, parts, surplus avionics sales, window repair and accessory services. The company also provides complete FBO services for transient aircraft at its East Alton and Grand Junction facilities. West Star provides services at four primary locations in East Alton, Illinois; Grand Junction, Colorado; Chattanooga, Tennessee; and Perryville, Missouri, as well as fifteen mobile repair bases and satellite MRO facilities. West Star also provides parts distribution and composite repair services through its Avant and DAS businesses respectively. For more information, please visit weststaraviation.com.

About Jet East, a Gama Aviation Company

Jet East, A Gama Aviation Company, is one of the nation's leading aviation maintenance providers. The company specializes in scheduled maintenance, on-demand mobile maintenance for unscheduled events, paint and interior completions and provides related services in the areas of structural repairs, composite work, and non-destructive testing (NDT). With a deeply talented workforce, Jet East is available to meet customer maintenance needs with on-demand service and coast to coast coverage in the U.S and in certain international markets. An expansive AOG Mobile Maintenance team operates with a 24/7 Dispatch Team and compliments the company's maintenance hangars in North Carolina, New York, New Jersey, Florida, Texas, California, Illinois, and Nevada. For more information, please visit jeteastgama.com.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $1 billion. Sterling has sponsored the buyout of 66 platform companies and numerous add-on acquisitions for a total transaction value of over $22.0 billion. Sterling currently has over $6.1 billion of assets under management. For further information, please visit www.sterling-group.com.

Past performance is no guarantee of future results and all investments are subject to loss.

SOURCE West Star Aviation, Jet East, and The Sterling Group, L.P.

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