Elevate Holdings, Inc. announced the acquisition of U.S.-based Keystone Aviation, a provider of aircraft charter, management and certified aviation maintenance services. The strategic combination unites two well-established aviation companies with extensive international client bases and long histories of serving the business aviation needs of corporate, government, individual and higher education clients.
By bringing together both entities, Elevate Holdings will continue growing its managed fleet and become the fifteenth largest aircraft management business in the United States. As a part of the acquisition, the company is also acquiring the Keystone Aviation long-standing maintenance and repair organization, allowing it to expand its service category.
“Elevate Holdings and Keystone Aviation are both focused on delivering outstanding white-glove service and mission-critical solutions to our clients,” said Greg Raiff, CEO of Elevate Holdings. “We believe the business aviation industry needs a provider large enough to deliver benefits at scale to its clients without sacrificing the personal touch so critical in a high-end service business. Together our teams will continue delivering high-touch experiences with more business aviation options than ever before.”
Aaron Fish, current Keystone Aviation Chief Operating Officer, will lead the new organization as President. Keystone Aviation employees will continue working alongside the Elevate Holdings team as the companies integrate, while TAC Air, the Keystone Aviation divesting company, will remain involved as a strategic partner. Any aircraft under Elevate Holdings management will enjoy preferred access at all 16 U.S.-based TAC Air FBO locations. Additionally, as a part of the transaction, Keystone Aviation – SLC will operate from a new, dedicated client access terminal at the Salt Lake City International Airport and satellite facilities in Scottsdale, Ariz. at KSDL and Provo, Utah at KPVU.
“Together, our combined teams will deliver the required high-touch approach to aircraft management — the growing business aviation sector is demanding,” said Fish. “Elevate Holdings has always been a supportive partner, and we are thrilled to continue this relationship filling existing gaps and the current lack of personalization in the business aviation industry.”
