Moelis Capital Partners, the private equity arm of Moelis & Company, acquired Flightstar Aircraft Services, a Jacksonville, Fla.-based provider of maintenance, repair and modification services to operators of transport category aircraft, including air carriers, cargo companies and aircraft lessors.
The acquisition aims to help the company grow and better meet the needs of its customers.
Led by Jerry Hernandez, Co-Founder, who will continue in his role as President and, along with other members of the management team, will retain a significant equity ownership, the company provides a range a range of services including all levels of scheduled maintenance from daily line checks to heavy depot level maintenance, as well as passenger-to-freighter conversions on certain classes of Boeing aircraft.
Flightstar currently has full tooling capabilities for B717, B727, DC9, MD80, B737, B757 and B767 aircraft, operating out of two adjacent hanger facilities on Cecil Field with over 335,000 square feet under roof and one million square feet of ramp space.
Prior to the transaction, the company was owned by management and affiliated investors.