In another example of private equity flowing into the business aviation support market, Chicago-based private investment firm Granite Creek Capital Partners has made an investment in Odyssey Aviation U.S., which operates FBOs at Florida’s Kissimmee Gateway Airport and at Detroit-area Willow Run Airport.
Granite Creek’s investment—the amount of which was undisclosed—supports a broader recapitalization of the company with Equivu Capital, the investment arm of Odyssey CEO Salvatore Calvino, becoming the majority shareholder of the company.
As well, Granite Creek partners Mark Radzik and Jim Clark will join Odyssey’s board of directors.
“I am pleased to welcome Granite Creek on joining us in investing in Odyssey,” said Calvino, who runs Odyssey’s U.S. operations along with president Ken Allison. “Granite Creek’s growth capital investment will help the company continue to meet the needs of its existing customers, capitalize on growing demand for private aviation, and broaden the footprint of Odyssey across the United States.”