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The Hubbell Group, ICR Inc. and Prosek Partners are handling the merger of Flexjet, the global leader in the private aviation space, and Horizon Acquisition Corp.
The deal, which is valued at $3.1B, is expected to close in Q2 2023 will have Flexjet trading on the New York Stock Exchange.
Flexjet offers fractional jet ownership and leasing via its “storefronts” that include Flexjet, Sentient Jet, FXAIR, PrivateFly and Sirio.
The company’s subscription-based revenues flow from about 10K contracts with ultra-high net worth individuals and Fortune 500 companies.
Flexjet is projected to chalk up 2022 revenues of $2.3B and adjusted EBITDA of $288M.
It will earmark proceeds of the Horizon transaction to fund fleet acquisition, geographic growth and terminal/support facilities expansion.
The Hubbell Group’s Nicholas Parmelee and ICR's Tom Cook and Brian Ruby handle Flexjet, while Prosek Partners’ Nadia Damouni represents Horizon.
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Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
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