O2 Investment Partners, a private equity firm based in Bloomfield Hills, announced that through its subsidiary First Class Air Holdings it has made an investment in and partnered with Aviation Inflatables and Survival Products. Terms of the transaction were not disclosed.
Aviation Inflatables is an independent evacuation slide, raft, and life vest maintenance, repair, and overhaul facility headquartered in Louisville, Ky. The inflatable slides, rafts, and related products are provided for the aerospace industry.
Survival Products manufactures a series of four-to-12-person, Federal Aviation Administration (FAA)-approved life rafts with distributers and certified service and repair stations worldwide.
“First Class Air Holdings and O2 are a great fit for our organization and will help us reach our full growth potential,” says German Alvarez, founder and president of Aviation Inflatables and Survival Products. “This partnership will allow us to grow our geographic presence, make strategic investments in our organization, and enhance our capabilities for customers.”
O2 Investment Partners seeks to acquire majority interests in lower middle market business to business services, technology, and select industrial companies with the aim of taking them to the next stage of development.
“We are honored to welcome the Aviation Inflatables and Survival Products team to First Class Air Holdings,” says Charlie Miller, a senior associate at O2. “The combination of Aviation Inflatables, Survival Products, and First Class Air Holdings is highly complementary, adding proprietary MRO services, exceptional engineering capabilities, and new customer relationships to the platform. German has built a great team and terrific business and we look forward to supporting his strategic growth plans.”